Fetch.AI (FET) Jumped By Over 30% on Nvidia Earnings Euphoria

AI crypto Fetch.AI (FET) emerged as a standout performer in the last 30 days, especially against Bitcoin and Ethereum, as traders’ attention

Cryptocurrency prices surged on Monday, led by gains in Fetch.AI (FET) token, as traders shifted their focus to artificial intelligence following Nvidia’s upbeat Q2 earnings.

The price of FET had soared 30% against the dollar, 23% versus Bitcoin and 30% against Ethereum in the last 30 days, when adjusted for the斯克币’s performance.

Among the seven days, FET had surged 70%, according to data from crypto analytics firm IntoTheBlock.

One whale appeared to have had a change of heart, spending 2.385 million USDT to buy back 1.79 million FET from Binance at a higher price of $1.33 on Monday, according to blockchain analytics firm Lookonchain.

The whale had earlier sold 2.33 million FET for 2.385 million USDT at $1.02 between Aug. 11 and Aug. 23.

Other bullish fundamentals that appeared to have offered price support to FET included the token’s listing on centralized cryptocurrency exchange Bitget, and the launch of a decentralized autonomous organization (DAO) to govern the Fetch.AI ecosystem.

Moreover, FET’s technical setup also pointed to potential upside in September.

The token’s price action appeared to be forming an inverse-head-and-shoulders (IH&S) pattern, a bullish technical setup characterized by three distinct troughs.

The left shoulder, the head (a deeper dip) and the right shoulder indicate weakening bearish momentum, while the neckline, currently around $1.39, marks the resistance level.