Top AI Token To Buy This Week To Ride the Recovery Run!
The post Top AI Token To Buy This Week To Ride the Recovery Run! appeared first on Coinpedia Fintech News
With the 3.18% jump in the Bitcoin price, a bullish engulfing candle reveals solid demand at the $57K level. As the buyers push back the supply available, the altcoins market fires up all the bullish cylinders for a bounce back. Amid the recovery, the AI tokens are making a comeback at a breakneck speed. So, here are the top AI tokens you should consider buying this week to ride the recovery rally.
Top AI Tokens: Bittensor (TAO)
The BitTensor AI token has a market cap of $2 billion and has increased by 2.53% in the past 24 hours. Currently, the TAO token’s price is trading at $280 and reveals a bullish engulfing candle. The AI token jumped by 6.12% yesterday by taking support at the $260 level.
Based on the Fibonacci level, the bullish influence at the 23.60% level keeps the uptrend alive in this top AI token. Furthermore, a possible double bottom formation arises at the 23.60% level.
The lack of bullish divergence questions the possibility of a comeback. Nevertheless, an upcycle in the AI token will resurge to challenge the 38.20% level at $300.
A bullish breakout will eventually lead to hitting the 61.80% level at $358. However, a bullish failure could give rise to a head-and-shoulder pattern with a neckline at the 23.60% level. As a bearish pattern, the breakdown could put the $200 psychological mark at risk.
Render (RNDR)
With a market cap of $2 billion, the RENDER Token trades at $5.10. In the past 24 hours, it has risen by 3.91%. This concludes the bearish cycle of 7 consecutive bearish candles near the $5 psychological mark.
With a 5% jump yesterday, a bullish engulfing candle teases a potential new trend. Furthermore, a support trend line is visible in the larger falling channel pattern, projecting a potential challenge to the 50-day EMA at $5.61.
However, the intense bearish cycles and the broader market volatility could result in a bearish breakdown. Further, the death cross between the 50-day and 200-day EMA has a bearish influence on the RENDER price trend.
Nevertheless, with a bullish breakout, the top AI token will challenge the previous peak at the 200-day EMA near the $6.69 mark. Optimistically, a bullish continuation can find targets at $7.50 and $11 on the bullish radar.
AIOZ Network (AIOZ)
With a market cap of $452 million, the AIOZ network ranks at 114th position in the crypto market. The AIOZ token price is at $0.40, with a 5.38% jump in the last 24 hours. With the bullish outcome, the top AIOZ token finally ends the bearish cycle of 9 consecutive bearish candles.
However, the increased bearish influence results in a death cross between the 50-day and 200-day EMA. Nevertheless, the bullish divergence between the two dev formations in the RSI line projects a potential comeback for the AIOZ token.
Optimistically, a bullish breakout of the falling channel pattern in the daily chart will find resistances at the 23.60% and 50% Fibonacci levels at $0.54 and $0.7612, respectively.
