Is This Chart a buying Opportunity? What is Happening With FET and GRT?
Fetch (FET), GRT and Waves Coin at a glance! All three altcoins are extremely popular right now. So which coins can be considered promising in the short term? We have researched the answer to this question in detail for you.
Other Profit Opportunities
Some altcoins have given cryptocurrency investors huge profits in the last 2 months. So much so that they almost made them forget about the winter of 2022. In particular, Fetch (FET) Coin surged over 1000% after ChatGPT was launched in late November 2022. That was quite a big rally. All investors showed great interest in FET Coin in the process as well.
Opportunity to Buy Altcoins?
Bitcoin price has dropped below $24,800 and risk appetite has waned for the time being in light of the important developments that will continue this week. Altcoins are also slightly below their February highs. So are current prices a buying opportunity for FET, GRT and Waves? On the bitcoin front, BTC needs to close above the $25,200 zone for altcoins to rise. So what is the outlook for altcoins?
Fetch (FET) Coin Analysis
Bosch, one of the world’s leading technology and services providers, in partnership with Fetch Web3, announced the creation of a new foundation that will provide $100 million for an artificial intelligence (AI) and Internet of Things (IoT) funding program. Bosch and Fetch AI will initially lead the foundation’s board of directors, but plan to expand leadership over time to include other “key participants” from industry. The purpose of the foundation is to fund companies and firms in the industrial artificial intelligence space. Selected companies will receive investments over a three-year period.
Bosch is a $513 billion company with nearly half a million employees worldwide, and Fetch is a token with a market cap of just $1.4 billion. The company has been one of the biggest beneficiaries of the artificial intelligence craze, and it looks like that will continue with these new moves.
The price couldn’t hold above $0.6. However, if bitcoin recovers and prices in today’s news from Bosch, it could rise above this level and run towards the $1 target. In the short term, support at $0.4 is important and the bullish outlook remains.
Chart (GRT) Coin Analysis
Increasing Chinese headlines have led to a rally in altcoins like GRT Coin these days. While the price was around $0.06 in December, it has now surpassed $0.21. Although the trading volume is in double digits, there was no major drop in the price today. If Bitcoin remains strong, it could retest the $0.22 level. In the short term, the $0.14 support remains important.
Waves (WAVES) Coin Analysis
WAVES Coin has been in trouble since it reached the ATH level. However, as many bad actors have disappeared from the market, those spreading FUD for Waves Coin have also fallen silent. At the time of writing, the price has fallen 62% from the ATH level above $95 to $2.85. In the short term, the uptrend can continue as long as it stays above $2.23. Prices above $3 will trigger an attractive rally. This week, the upcoming Fed minutes, PCE data and FOMC members’ statements will determine the market. Investors need to be cautious as Bitcoin’s failed resistance tests could open the door for an interim correction with positive data.
Please note that the information provided here is for educational and informational purposes only and should not be construed as investment advice. It is important to conduct your own research and consult with a financial advisor before making any investment decisions.