As Bitcoin flirts with the $70,000 mark, AI-linked cryptocurrencies are experiencing a resurgence, propelled by speculation surrounding mergers like SingularityNET, Fetch.ai, and Ocean Protocol. This week, the AGIX, OCEAN, and FET prices have skyrocketed, buoyed by growing anticipation of an impending altcoin season ahead of Bitcoin's Halving on April 19th.

Fetch.AI (FET) Price Rally

FET, boasting a market cap of $2.602 billion, has witnessed a remarkable surge in trading volume, surpassing the billion-dollar mark with a 67% rise. Despite a short pullback from its all-time high of $3.34, FET currently trades at $3.0993, showcasing strong underlying demand.

Potential for a New High at $5

In the 4-hour chart, FET's price action indicates a pullback reversal, culminating in a breakout above the overhead resistance trendline. Currently challenging the $3.40 mark, a breakout above the 50% Fibonacci level at $3.39 could propel FET towards $4.44, attracting sideline traders eyeing potential breakout opportunities.

A bullish reversal is supported by a rounding bottom formation in the daily chart, suggesting a forthcoming bull run. Despite the impending challenge at $3.39, reflected by a potential negative crossover between the MACD and signal lines, FET's upward momentum remains robust.

Market Outlook

As the broader cryptocurrency market braces for the upcoming Bitcoin Halving, optimism surrounding altcoin seasons is palpable, with AI-linked tokens like FET at the forefront of this resurgence. Traders keenly observe key resistance levels, such as $3.39, as potential entry points, anticipating further bullish momentum in the days to come.

With merger speculation fueling market excitement and Bitcoin's looming Halving event injecting additional optimism, AI-linked cryptocurrencies are poised for an eventful period ahead, with FET leading the charge towards new price milestones.