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Breakout Rally in AI tokens FET and PHB anticipate 2x Surge
This week, AI tokens made a surprising bullish return following the bull run in meme coins and top altcoins. During the bull run, these small-cap altcoins represent a successful entry opportunity.
Furthermore, as the broader market recovers, Fetch.AI and Phoenix tokens are poised for the next phase of recovery. Let’s take a closer look at their price charts and determine the upside possibilities.
Will FET Token Surpass $2?
With a downtrend in the daily chart, the FET token forms a descending channel, almost reaching the psychological limit of $1. The sudden V-shaped reversal in the AI token results in a failed breakout of the falling channel.
The sudden 41% jump undermines last week’s collapse and recovers the 200D EMA and the $1.50 mark. Currently, the FET token is trading at $1.6570 with an intraday gain of 9.99% to create another bullish engulfing candle.
According to the Fibonacci level, the uptrend is approaching the 50% Fibonacci level and the 50D EMA. A bullish breakout of this level can push the AI token to break out of the descending channel.
In that case, the uptrend of FET token price can peak at $3.20, an increase of almost 100%.
Will Phoenix AI Token Break the Trendline?
With a lower trend formation on the 4-hour chart, PHB token price reveals a moving downtrend. However, the recent recovery anticipates a bullish breakout as it surpasses the 50EMA on the 4-hour chart and the 23.60% Fibonacci level.
AI token price 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 general resistance trend line.
A bullish break of the resistance trendline can push the AI token price up to the $3.12 level.