Sohrab Khawas
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.
