Breakout Rally in AI Tokens FET and PHB Teases 2x Surge
The post Breakout Rally in AI Tokens FET and PHB Teases 2x Surge appeared first on Coinpedia Fintech News
This week, the AI tokens made a surprising bullish comeback following the bull run in the meme coins and the top altcoins. With the bull run, these low-cap altcoins present a breakout entry opportunity.
Further, as the broader market recovers, the Fetch.AI and Phoenix tokens are ready for the next stage of recovery. Let’s have a closer look at their price charts and determine the upside chances.
Will FET Token Surpass $2?
With a declining trend in the daily chart, the FET token forms a falling channel, cracking to almost the $1 psychological mark. The sudden V-shaped reversal in the AI token results in a failed breakdown of the falling channel.
The sudden 41% jump undermines the downfall last week and reclaims the 200D EMA and the $1.50 mark. Currently, the FET token trades at $1.6570 with an intraday gain of 9.99% to make another bullish engulfing candle.
As per the Fibonacci level, the uptrend is approaching the 50% Fibonacci level and the 50D EMA. A bullish breakout of this level can boost the AI token to surpass the falling channel.
In such a case, the uptrend in the FET token price can reach the $3.20 peak, almost a 100% surge.
Will The AI Token Phoenix Break The Trendline?
With a lower high trend formation in the 4H chart, the PHB token price reveals a downtrend in motion. However, the recent recovery teases a bullish breakout as it surpasses the 50EMA in the 4H chart and the 23.60% Fibonacci level.
The AI token price has increased by 20%, with an intraday gain of 4.36% to form consecutive green candles. With the rounding reversal, the uptrend is ready to challenge the overhead resistance trendline.
A bullish breakout of the resistance trendline can pump the AI token price to the $3.12 mark.
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