- The FET crypto has delivered a year-to-date (YTD) return of 208.84%.
- The current price of Fetch.ai is performing 36.55% below the all-time high level.
- A decline of 52.72% has been observed in the trading volume of FET tokens in the last 24 hours.
Launched in 2019, Fetch.ai (FET) is an artificial intelligence (AI) lab that democratizes access to AI technology with a permissionless network. The project focuses on building an open, permissionless, decentralized machine-learning network with a crypto economy.
After delivering massive positive profitability in February and March 2024, the FET token price experienced bearish sentiments in April 2024. The price faced a decline of 32.39% in April and is showing a positive approach from buyers in the current month.
FET Crypto, Performance, Supply Changes, Valuation & Distribution
Regarding the market cap, Crypto has placed itself among the world’s top 55 most dominant cryptocurrencies. Compared to the last seven days, Fetch.ai price has outperformed the global cryptocurrency market. However, the FET token is underperforming compared to the similar Ethereum ecosystem cryptocurrencies.
The community behind this AI project reflects 93% bullish sentiments today. FET tokens had a maximum supply of 2.54 billion, of which 848 million are currently in circulation. The current market cap of the cryptocurrency stands at $1.87 Billion, and the total diluted market cap is assumed to be at $2.54 billion.
The initial distribution of the Fetch.ai (FET) tokens is broadly allocated into the following categories:
![FET](https://themarketperiodical.com/wp-content/uploads/2024/05/image-195.png)
The cryptocurrency has 80,036 active token holders, of which the top 3 holders collectively own 63.51% of the circulation supply. Fetch.ai: staking ranks 3rd in terms of holdings with 80.61 Million tokens. The number one wallet address has over 1.47 Billion FET tokens.
Technical Analysis of the Fetch.ai (FET/USD)
![FET](https://themarketperiodical.com/wp-content/uploads/2024/05/image-196-1024x447.png)
The long-term bullish outlook lies above the key exponential moving averages. However, the current price slipped between the 50-day and 200-day EMAs, indicating uncertainty in the short term.
FET price has shown bullish reactions from the $1.56 decisional demand zone. Afterward, the price reflected a 70% bullish rally to the $2.69 supply level. The current price is struggling between the $1.56 and $2.69 levels. Breakout/breakdown of any of those levels can lead the price in that direction.
Furthermore, the relative strength index (RSI) line is moving closer to the 50-, mark middle band. It shows weak momentum in current price strength. The RSI line is moving at the 46.54 mark.
Summary
The FET crypto price has been experiencing initial profit booking since March 28, 2024. The crypto created an all-time high price level of $3.47 that day. Fetch.ai price fell to the $1.56 decisional demand zone. The Breakout/breakdown of $1.56 and $2.69 levels can lead the price in that direction.
Technical Levels
At the time of writing, the $2.69 level is a resistance, and the $1.56 level is the next support. Breaking any of those levels can lead to a price pullback in that particular direction.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.