Two leading artificial intelligence-focused blockchain projects, Fetch.ai (FET) and Singularity (AGIX), have registered powerful double-digit price spikes this week as altcoin momentum persists. Both tokens currently sit among the crypto market’s top daily gainers on mounting optimism.
Riding high on the back of broader bullish sentiment, Fetch.ai has specifically exploded close to 20% higher over the last 24 hours. The move propelled FET to tag new all-time highs around $1.67 in early trading, smashing through previous ceilings.
Per analysts, the parabolic ascent does necessitate some cooling off after reaching such overbought conditions. But despite expecting minor consolidation near highs, technicals suggest the steep rally still maintains underlying fuel to extend once consolidation subsides.
Fetch.ai looks to be in a textbook bullish rising wedge currently that often forms the basis of strong trend continuation. Although resistance caps the pattern normally, excessive buying pressure can force breakouts higher, as appears to be the case here. The bulls simply need to defend recent lows during any stabilization to maintain upside energy.
AGIX gains similar value as FET
The narrative holds similarities with blockchain rival SingularityNET, whose AGIX token gained comparable traction this week. After lagging in a tight consolidation previously, AGIX rallied over 15% to convincingly overcome its symbolic $1 resistance marker to kickstart its own breakout now.
Analysts anticipate singularity stretching upwards to tag new record peaks beyond $2 in the near future as momentum picks up with MACD momentum having crossed into positive bullish territory and rising volumes. Sustained trade activity above its established range looks set to unlock outsized upside as upside targets open up more.
So while last week’s fervor cooled across crypto markets recently, appetite persists for assets like FET and AGIX as optimism endures towards decentralized AI innovation. With strong demand tailwinds still buffering both projects presently, their outlooks forecast further upside in the coming sessions on strengthening the technical legs underpinning that vision.
