Published 9 mins ago
Top AI Coins Price Analysis: The term AI(Artificial intelligence) has been buzzing around the world and crypto market since the launch of ChatGPT, which is a chatbot developed by OpenAI. Thus, with a massive surge in popularity, the cryptocurrencies associated with this AI technology recorded significant gains despite the uncertain market sentiment. Thus, today we will analyze some of the top AI coins to check their future potential.
Graph Token(GRT)
Source- Tradingview
Under the influence of trending AI topics and a rounding bottom pattern, the Graph token price has witnessed massive growth since February 1st. Moreover, on February 7th, the coin price gave a defensive breakout at $0.15 neckline resistance.
This high-volume breakout indicates the buyer’s strong commitment to reclaiming higher levels. By the press time, the GRT price trades at $0.171 and is going through a minor pullback to retest the breached resistance level.
If the coin price shows sustainability above $0.15, the trades could look for an entry opportunity.
Thus, under an ideal bullish scenario, this post-retest rally could drive the coin price 47.5% higher to hit the $2.5 psychological resistance.
Also Read: Explained: What is Physical NFT? and How to Sell Physical Items as NFT
Oasis Network(ROSE)
Source- Tradingview
Similar to the GRT token, the ROSE is in the process of forming a rounding bottom pattern. Thus, the coin price doubled its market volume from January 1st low and reached the current price of $0.068.
As of now, the ROSE price shows a power struggle to break a local resistance of $0.0725. If the selling pressure persists, the coin holders may witness a minor pullback to revisit the $0.059 support.
Thus, once the bullish momentum replenishes, the altcoin may resume its recovery, and the buyers will chase the neckline resistance of $0.116, recording 68% growth potential.
Fetch.ai(FET)
Source- Tradingview
The Fetch.ai(FET) coin shows another classic example of a rounding bottom pattern. This pattern formation itself is a sign of trend reversal and a gradual increase of bullish momentum. Thus, in response to this bullish pattern and increasing demand for AI-related tokens, the FET price rallied 500% from the January 1st low and reached the multi-month resistance of $0.545. However, the coin price reverted immediately after hitting the aforementioned resistance, which is understandable considering the price gained so much in a short period.
By the press time, the coin price trades at $0.445 and retests the $0.436 support. If the selling pressure, the prices may plunge to future support of $0.305 or $0.25. Thus, the traders could grab a pullback opportunity at the aforementioned support.
Thus, if the bullish momentum recovers, an upward breakout from $0.54 could drive the price 84% higher to reach the $1 mark.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
