Fetch.ai (FET) price pumped more than 8 percent in the last 24 hours to hit a new all-time high (ATH) of around $3.39. Trading around $3.26 on Friday during the mid-London session, the FET price does not have any major resistance ahead and, thus it is likely to continue in a bullish outlook.
Furthermore, the mid-cap altcoin is focused on democratizing artificial intelligence (AI) technology through a permissionless network. With the notable growth of the AI industry around the world, the Fetch.ai network is well-positioned to grow shortly.
Fetch.ai Rebrands via the Superintelligence Alliance
Earlier this week, Fetch.ai announced its merger with other titans of decentralized AI technology including SingularityNET and Ocean Protocol. Once the hyped merger takes place, the combined value of the new Superintelligence Alliance under the $ASI coin is expected to be around $7.5 billion. Consequently, the new Superintelligence Alliance can take on big tech firms already venturing into the same AI sector.
Meanwhile, the Fetch.ai and SubgularityNET communities are expected to vote on the token merger proposal soon.
What Next for FET Price Action
Since the breakout from a cup with a handle base earlier this year, FET price has pumped more than 500 percent. On the lower time frames, the FET price broke out of a bullish flag in the past 24 hours. As a result, the FET price needs to consistently have a weekly close above $3.1 to maintain a bullish trend towards $4 in the near term.
