Fetch.AI experiences a surge to new highs; the sustainability of FET rally is under question Meanwhile, Borroe Finance secures millions in a presale centered on the AI narrative

The AI narrative continues to drive excitement in the cryptocurrency market during this bull cycle. Coins with a focus on artificial intelligence, such as Render Token (RNDR), have experienced significant price surges, with RNDR seeing a remarkable 70% increase in the last 30 days. Among these AI-focused tokens, Fetch.ai (FET) stands out by soaring 26% today and nearly 200% over the past month.

Fetch.ai Price Momentum

At the time of writing, FET is trading around $1.64, marking a 26% jump in price today. Over the last 30 days, FET has surged by close to 200%, rising from $0.55 levels. With a current market cap around $1.3 billion, FET is nearing its all-time high.

Technical analysis reveals that after a period of sideways trading from early December to mid-February, FET broke out of this channel about 10 days ago, signaling a shift into "discovery mode." The price is now exploring new ranges and setting new highs as it continues its upward trend.

Technical Indicators Analysis for FET

Examining the technical indicators, FET appears positive both in the short term and long term. The 200-day moving average (MA) is currently around $0.48, suggesting a bullish long-term trend. The DEMA 9 close stands at $1.59, indicating strong upward momentum in the short term. The daily Relative Strength Index (RSI) sits at 61, depicting bullish momentum without being overextended.

Big Sell-off Caution

A significant FET holder, DWF Labs, has recently deposited 1 million FET to Binance at $1.414 per token, translating to a profit of $6.49 million from FET trades. Such substantial selling activities by major holders like DWF Labs raise caution that the price of FET may experience pullbacks if more whales decide to take profits.

Borroe Finance Funding Success

Meanwhile, Borroe Finance, a new AI project in the ICO phase, has raised $3 million in its presale. With the ROE token price at $0.019 currently and set to increase to $0.020 in the next stage, Borroe Finance aims to assist Web3 businesses in overcoming financial limitations by offering an AI-based invoice discount NFT marketplace. This innovative approach enables companies to tokenize future revenue streams into NFTs, providing them with immediate funding while allowing investors to support projects they believe in.

By leveraging blockchain technology, AI-powered risk analysis, and smart contracts, Borroe Finance simplifies financial transactions, making funding quick, seamless, and reliable without the burdens of traditional paperwork.

Web3 companies can mint NFTs representing various revenue streams on the Borroe Finance platform, then list them at a discount on the marketplace, allowing for instant capital acquisition. The integration of AI, oracles, and liquidity pools positions Borroe Finance as a platform for investors seeking exposure to innovative projects within the evolving Web3 landscape.

Future Expectations

Amid Fetch.ai's impressive price rally and Borroe Finance's innovative fundraising model gaining traction, the AI sector in crypto remains dynamic and promising. As more projects incorporate artificial intelligence to address challenges in Web3, both FET and Borroe Finance stand out as potential choices in this budding trend.

Expectations are high for the continued growth of the AI narrative throughout this bull run, with a rise in projects aiming to leverage AI to enhance experiences for Web3 users and businesses. It's essential to exercise caution in the volatile cryptocurrency market and conduct thorough research before investing.