AI(Artificial intelligence) technology has remained one of the hottest topics in 2023 so far. Despite a highly volatile phase in the past three months, the cryptocurrencies linked to this AI technology experienced substantial gains, reflecting their increasing popularity. Thus, today we will analyze some of the leading AI coins in order to assess their future potential.
Graph Token(GRT)
A V-shaped recovery from the $1.05 support has surged the Graph token price 53.2% higher in just one week. However, this recovery halts at the $0.163 local resistance and the daily chart showcasing a long-wick Doji candle indicates uncertainty among market participants.
The supply pressure from above suggests the GRT price a pullback 12-16% lower before the resumption of the prior recovery.
SingularityNET(AGIX)
Amid the recent recovery in the crypto market, AGIX buyers managed to undermine the losses witnessed during March’s first two weeks and rechallenge the $0.56 resistance. However, earlier today, the coin price showcased a failed attempt to surpass the $0.56 ceiling, indicating the sellers continue to defend this level
By press time, the AGIX price is 7% down and shows signs of a bearish reversal. However, the $0.45 support stands as strong support that can resume the prior recovery momentum.
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Render Token(RNDR)
The Render Token price hints at an early sign of the formation of an inverted head and shoulder pattern. This famous bullish reversal pattern can offer direction once the price breaks the neckline resistance of this pattern.
As of now, the RNDR price trades at $1.475 and is approaching local support of $1.38. If the buyers show sustainability, the token price may continue to form the right shoulder pattern of the pattern, and eventually breach the $1.58 neckline resistance.
Oasis Network(ROSE)
On March 13th, the V-shaped recovery in the Oasis network token price gave a bullish breakout from the resistance zone of $0.057-$0.059. However, for the last four days, the prices moving sideways are trying to sustain above the breached resistance.
Today, the coin price trades at the $0.062 mark, and the lower price rejection attached to it indicates the buying pressure is high at this support. Thus, with sustained buying, the coin price may rise to 16.2% higher to meet the next significant resistance of $0.072.
Fetch.ai(FET)
Over the past five weeks, the Fetch.a coin has been struggling to breach a monthly resistance of the $0.4857 mark. By the press time, the FET price trades at the $0.43 mark, with an intraday loss of $4.1%.
If the selling pressure persists, the coin holders can witness a prolonged consolidation before the buyer replenish the bullish momentum to surpass $0.485
