#soitumlum #05 #FET
Founded in 2017 and launched through an IEO on Binance in March 2019, Fetch.AI is an artificial intelligence (AI) lab building a decentralized, open, permissionless machine learning network with a cryptocurrency economy. Fetch.ai democratizes access to AI technology with a permissionless network where anyone can connect and access secure datasets using automated AI to perform tasks leveraging its global data network.
The Fetch.AI model stems from use cases like optimizing DeFi trading services, traffic networks (parking, small mobility vehicles), smart grids, travel - basically any complex digital system relying on large-scale datasets.
Fetch.ai is designed to search, create, deploy, and train digital twins and is an essential part of smart contracts and oracles on the platform.
Through the use of FET, users can build and deploy their own digital twins on the network. Developers, by paying with FET tokens, can access machine learning-based utilities to automatically train digital twins and deploy collective intelligence on the network.
(data taken from coinmarketcap)
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From a technical analysis perspective.
In my personal assessment, this stock has lost its long-term hold position, and can only be traded on the waves, so I will not set a profit target too far away.
Just pumped one step and is currently returning for a nice re-accumulation, waiting for the price to return to the support zone and starting to look for signs of low volume, reversal candles, patterns... supporting the uptrend then enter the trade.
Cut loss when the price breaks through the support zone of 1.6 (~8 - 10%)
The nearest support zone currently: 1.658 - 1.744
Short-term price target: 2.5588 - 2.770
Medium-term price target: 3.803 - 4.845
