Fetch.ai (FET) and SingularityNET (AGIX) prices have defied gravity in the past few days as traders anticipate the upcoming Superintelligence (ASI) launch. The AGIX token was trading at $0.7125, its highest swing since June 12th. It has soared by over 51% from its lowest point this month.
FET and AGIX rise ahead of ASI merger
Fetch.ai price, on the other hand, has soared to $1.7, its highest level since June 20th. It has also surged by more than 50% from its lowest point this month, making it one of the best performing cryptocurrencies in the market.
The key driver for the AGIX and FET price rally is the upcoming merger, which will also include Ocean Protocol. The merger will produce The Artificial Superintelligence Alliance whose token will be ASI.
Initially, on July 1st, the three tokens will maintain the FET name and then transition to the ASI token. In the first phase, the project’s name will transform to Artificial Superintelligence while the deposits and withdrawals of AGIX and OCEAN will start to close.
AGIX and OCEAN will migrate to FET with 1 AGIX token getting 0.43335 FET and one OCEAN getting 0.433226 FET. In the next phase, the ASI token will be deployed across all chains while the FET network will upgrade to the ASI network.
The developers hope that Artificial Superintelligence will become the biggest names in the blockchain industry. The combined platform will have three key solutions. Fetch provides AI agents while SingularityNET provides a marketplace for AI apps. Ocean Protocol provides a platform for users to monetize their AI models and data.
This merger will be the biggest one in the crypto industry as it will bring together three of the biggest names in the sector. Fetch has a market cap of over $4.28 billion while AGIX and OCEAN have a valuation of over $907 million and $460 million.
Fetch.ai price forecast
The 4H chart shows that the FET price has rebounded in the past few days. It has jumped to a high of $1.7145, its highest point on June 20th. The token has also moved to the 38.2% Fibonacci Retracement point and above the 50-period and 25-period exponential moving averages (EMA).
Further, the MACD indicator has moved above the neutral point. Therefore, the token’s outlook is extremely bullish, with the next point to watch being at the 50% retracement point at $1.90.
SingularityNET price analysis
The 4H chart shows a close correlation with Fetch. After bottoming at $0.4687 earlier this month, the token has surged to over $0.70. It has crossed the important resistance point at $0.6957, its highest point on June 20th.
The token has also jumped above the 50-period and 25-period moving averages while the Relative Strength Index and the MACD have pointed upwards. Therefore, it will likely continue surging as buyers target the key resistance point at $0.80
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