The cryptocurrency industry has been abuzz with a newly launched trading market. Since completing its token sale, Fetch.AI has gathered a lot of attention and a significant value increase. Even today, the Fetch.AI price is still in the green, although there is some genuine selling pressure on Binance. This has not deterred traders whatsoever, but a much higher value may not necessarily be reached this week.
Fetch.AI Price Surge Isn’t Over
It is rather uncommon for newly released tokens to get traded on the biggest cryptocurrency exchange within the same week. In the case of Binance, however, the company tries its hand at doing things a bit differently from other competitors. With a successful token sale completed in mere seconds, the demand for Fetch.AI is genuine. How long that “hype” will continue to drive the price, is a very different matter altogether.
In the past 24 hours, the Fetch.AI price continues its bullish trend which first materialized yesterday afternoon. Although its price ranged from $0.35 to $0.47, it currently sits at $0.422. This push is primarily fueled by $124m in trading volume, which is rather significant. Especially for a token which only came to market a few days ago, this volume is impressive. FET Is also not listed on CoinMarketCap at this time.
On social media, very few people are talking about the technical prowess of FET or why it is worth investing in other than potential quick profits. Blackhan compares all recently conducted ICOs and notes a remarkable trend. Fetch.AI has hit a high ATH, but the current level is still close to it. As such, a potential new ATH can be reached pretty quickly.
— ฿lackhan (@Blackhan07) March 1, 2019
Lunar Express is also keeping a very close eye on this market. Although the FET chart doesn’t necessarily look that great, they still claim a bullish divergence is forming right now. Trusting the advice of pump signal groups is not necessarily a smart idea, although it seems unlikely traders won’t try to push the value higher at some point.
FET reached our target + we can see bullish divergence! ??#binance #FET #bitcoin #bnb #fetusdt #trading #TradingSignals #cryptocurrencymarket #cryptocurrency #crypto #fetchai pic.twitter.com/wTg9R326m9
— Lunar Express (@AskLunarExpress) March 1, 2019
Rodge_Amsterdam is always chasing pumps, by the look of things. While that is a troublesome approach and almost a guaranteed way of losing money, it appears to work out quite well where Fetch.AI is concerned. Claiming it will pump again pretty soon is never solid advice by any means, as no market can be predicted in an accurate manner.
— Rodge_Amsterdam (@AmsterdamRodge) March 1, 2019
All things considered, it seems the FET momentum is far from over. Whether or not it will swing up or down over the weekend, will be on a lot of people’s mind. Considering how the token is primarily traded on Binance, any sort of momentum can occur when people least expect it. If this trading volume keeps up, things may not look half bad.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.