Investors in Fetch.ai are optimistic about the potential emergence of a reversal pattern for FET on the chart. They anticipate a bullish trend, particularly post Bitcoin Halving, given the high correlation of 0.85 between the two. Notably, whale activity has shifted from HODLing to accumulation over the past 2–3 days, with a collective increase in holdings by $59 million.

Addresses holding FET tokens worth between $100k and $10 million signal an impending positive rally, with the magnitude of their increase suggesting it may occur sooner than expected. While a detailed discussion on a specific timeline is pending, the effects could become evident in the near term, potentially yielding significant outcomes by the end of 2024.

Bitcoin Halving is expected to exert significant influence on FET prices, as it has historically impacted token valuations by reducing miners' rewards and controlling BTC supply. This phenomenon is anticipated to affect not only FET but also other cryptocurrencies in the market.

FET stands to benefit from a potential rise due to its double-bottom pattern, characterized by consecutive troughs at the same level, indicating potential for a reversal trend. However, the pattern has yet to be validated, with FET recently breaking through the neckline at $2.28. A drop below this level could invalidate the pattern, leading to a bearish trend.

As of the drafting process, FET is trading at $2.43, reflecting a 2.49% decrease in the last 24 hours but a 15.93% increase over the past 7 days. Market predictions suggest FET will maintain momentum until the end of the decade. Investor confidence in an upcoming rally on Fetch.ai, coupled with whale accumulation amidst changing sentiments, reinforces expectations for growth in the ecosystem.

Two key factors, Bitcoin Halving and correlation with Bitcoin, are expected to drive a surge in FET. Bitcoin's upward movement, alongside Ethereum's bullish run, adds to the overall optimism, although Ethereum's performance could be influenced by factors such as the absence of official word on its ETF.