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Top Artificial Intelligence (AI) Tokens to Watch This Month?
The cryptocurrency market continues to show positive price action, indicating increased buying-selling pressure in the crypto space. However, top altcoins are seeing mixed sentiment, experiencing significant fluctuations in their respective portfolios.
On the other hand, top Artificial Intelligence (AI) tokens are showing bullish action in their respective charts after trading with bearish sentiment for a short period. This highlights a high possibility of bullish bounce in these tokens.
Dive in because, in this article, we have covered the market sentiments and price analysis of Render (RNDR), Akash Network (AKT), Injective (INJ) and Theta Network (THETA) and also their short-term price targets term.
Rendering (RNDR):
THE RNDR price continues to show positive price action registering a jump of 1.83% in the last 24 hours and 2.29% in the last seven days. Furthermore, with a market capitalization of $4.104 billion, the Render token has secured the 27th place in the global cryptocurrency market list.
TradingView: RNDR/USDT
The simple moving average (SMA) shows bullish convergence on the 1D time frame, suggesting an increase in bullish sentiment for the altcoin in the crypto space.
However, the RSI technical indicator is about to test its midpoint, the outcome of which is unpredictable. Furthermore, the averages show a high possibility of a bearish crossover, indicating uncertainty in future price action.
If the bulls regain momentum, the Make the price will prepare to test its $11,760 resistance level this month. However, the bearish price action could push the RNDR coin price towards its $9,450 support level in the coming times.
Injective (INJ):
Despite trading in a closed range between $23.36 and $30.55, the value of the INJ Price it jumped 1.46% in the last day and about 5% in the last seven days. Furthermore, the Injective cryptocurrency has gained 3% over the past 30 days, indicating growing bullish sentiment for the AI token.
TradingView: INJ/USDT
The RSI continues to hover near its neutral point, highlighting weak price action for the Injective token in the crypto space. Furthermore, the average shows a constant flat line, indicating uncertainty in future price action.
If the Injective price will regain power, break above its important resistance level and prepare to test its upper resistance level of $36.35. However, if the bears dominate the price of the INJ coin, it will collapse towards the crucial support level of $23.36.
Akash Network (AKT):
After showing bullish price action for the first two months, the AKT Price it traded in an established range between $4,237 and $6,208, indicating weak buying pressure.
TradingView: AKT/USDT
However, the Akash Network token successfully tested its lower support again, indicating a high possibility of a bullish reversal in the coming times.
The Moving Average Convergence Divergence (MACD) shows a steady decline in the red histogram, indicating an increase in buying pressure for the Akash Network cryptocurrency within the crypto space.
If the market keeps the AKT coin price above the $4.237 support level, the bulls will regain momentum and prepare to test its upper resistance level of $6.208 in the coming times. Conversely, bearish price action could push the price Akash network price towards its crucial support level of $3.212.
Theta Network (THETA):
With a trading price of $2,202, a circulating supply of 1 billion THETA tokens, and a market capitalization of $2,238 billion, Theta Network Price has successfully secured the 54th position in the top 100 cryptocurrencies.
TradingView: THETA/USDT
The technical indicator, MACD, shows a steady flat line on the 1D time frame, suggesting a decrease in price action for the AI token in the cryptocurrency market. Furthermore, the averages show a high possibility of bullish convergence, suggesting a positive outlook for the price of Theta Network coins in the near future.
If the bulls got the better of the bears, the THETA price it will test its $3 upper resistance level again this month. However, in case of bearish price action, Theta Network price could plummet towards the low of $1,975.