Top 3 AI Crypto Tokens with Bullish Pattern Set for Higher Recovery
In the wake of the recent developments at OpenAI, including the dismissal of Sam Altman, there’s been a notable increase in the value of cryptocurrencies associated with artificial intelligence (AI). While the crypto market is wavering in uncertainty, this news must gather the investor’s attention back to AI tokens. Here’s a price analyst for some of the highest gainers in this category.
Also Read: Microsoft’s Satya Nadella Hires Sam Altman And Greg Brockman For New AI Team
Render Price Analysis: Key Resistance Breakout Set Further Rally
This week, Render Token (RNDR) emerged as a standout in the crypto market, surging from $2.1 to $3.6—a remarkable 72% increase. This impressive rally was catalyzed by a pivotal breach of the resistance line in the symmetrical triangle pattern, signaling a strong buyer presence. For the past 20 months, the RNDR price had been confined to a tight trading range, but this breakout marks a significant shift in market dynamics.
At the time of writing, the RNDR price is trading at $3.58 and a recent surge past the $3.3 mark opens up the possibility for further gains. If the current momentum is maintained, the next targets for RNDR could be set at $4.25 and potentially extend to $5.7.
Graph Price Analysis: Bullish Pattern Sets a Rally to $0.14
The Graph (GRT) sparked a strong recovery starting from late October when the price rebounded from a low of $0.0774 to a high of $0.165, accounting for 113% ascent. However, the broader uncertainty in the crypto market led to a slight retracement in the GRT price, stabilizing at the $0.12 support level. Intriguingly, this level coincides with the 50% Fibonacci retracement, suggesting a robust and healthy correction, laying the groundwork for sustained recovery.
The recent formation of a double-bottom pattern at this juncture is a bullish signal, potentially catalyzing renewed buyer interest. Furthermore, with an intraday rise of 3.55%, the buyers overcame the pattern’s neckline resistance at $0.14.
Should this momentum be maintained above this critical threshold, we could anticipate a further 14.6% surge, potentially propelling GRT price to the $0.16 level.
Fetch.ai Price Analysis: Can FET Price Hit $1?
In the daily time frame chart, the Fetch.ai token showed a rounding bottom recovery in the span of 9 months. This bullish reversal is indicative of sustained growth, presenting multiple entry points for buyers to join the upward trend. Currently, the token is trading at $0.53, and with a significant intraday increase of 6.18%, it’s steadily advancing toward the crucial neckline resistance at $0.61.
A breakthrough above this resistance level could open another window for investors to engage with the coin, potentially amplifying the buying pressure. Such a scenario could pave the way for Fetch.ai to ascend towards the significant $1 psychological threshold.