The cryptocurrency market has been experiencing a bullish trend, with Bitcoin’s price holding above $64k and altcoins like memecoins and AI tokens seeing significant gains. The Artificial Intelligence category, in particular, has been on the rise, with major projects breaking out of important resistance levels. This has led to renewed interest from investors, who are wondering if the AI hype will rebound and if now is the right time to invest in crypto.
In this article, we will delve into the market sentiments, price analysis, and potential price targets for the top 3 Artificial Intelligence (AI) tokens in the current month.
Injective (INJ):
Injective has recently seen a bullish momentum, with a 41% increase in the last 30 days and an 8% jump in the past week. The altcoin is currently trading within an ascending channel pattern, supported by a bullish Simple Moving Average (SMA) and a constant green histogram on the MACD indicator. If the bullish trend continues, INJ could target its upper resistance level of $28.25, while a bearish reversal may see it drop to $21.35.
Near Protocol (NEAR):
NEAR has been on a bullish streak, adding 3.46% in the past day, 5.27% over the past week, and 36.56% in the past month. With a market cap of $6.617 billion, NEAR holds the position of the most valuable AI project. The EMA 50/200-day suggests a potential Golden Cross in the 1D timeframe, while the RSI indicator points to an overbought range. If the bullish momentum continues, NEAR could retest its resistance level of $6.225, with a potential drop to $5 in case of a bearish reversal.
Super Artificial Intelligence (FET):
Despite a correction of 5% in the past week, FET has seen a 39% increase in the last month and over 144% this year. With a market cap of $4.138 billion, FET holds the 28th position in the global crypto list. The MACD indicator shows a decline in the red histogram, hinting at a potential bullish convergence, while the SMA indicator supports a positive price trend. If FET maintains its value above the resistance level of $1.650, it could target $2.230. However, a rejection could lead to a drop to $1.
In conclusion, the AI token market is showing signs of resurgence, with top projects like INJ, NEAR, and FET experiencing bullish momentum. Investors are advised to closely monitor these tokens for potential price movements and consider the market sentiment before making any investment decisions.