Top Artificial Intelligence (AI) Tokens To Watch For This Month?
The crypto market continues to display a positive price action, indicating an increase in the buying-over-selling pressure in the crypto space. However, top altcoins record a mixed sentiment by experiencing significant fluctuations in their respective portfolios.
On the other hand, the top Artificial Intelligence (AI) tokens display a bullish action in their respective chart after trading under a bearish sentiment for a brief period. This highlights a high possibility bullish rebound in these tokens.
Dive in as, 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.
Render (RNDR):
The RNDR price continues to display a positive price action by recording a jump of 1.83% within the past 24 hours and 2.29% over the past seven days. Moreover, with a market cap of $4.104 Billion, the Render token has secured 27th place in the global crypto market list.
The Simple Moving Average (SMA) shows a bullish convergence in the 1D time frame, suggesting increased bullish sentiment for the altcoin in the crypto space.
However, the technical indicator, RSI, is on the verge of testing its mid-point, the outcome of which is unpredictable. Moreover, the averages display a high possibility of a bearish crossover, indicating uncertainty in future price action.
If the bulls regain momentum, the Render price will prepare to test its resistance level of $11.760 this month. However, bearish price action could pull the RNDR coin price toward its support level of $9.450 in the coming time.
Injective (INJ):
Despite trading in a closed range between $23.36 and $30.55, the INJ price has recorded a jump of 1.46% within the past day and approximately 5% over the past seven days. Moreover, the Injective crypto has added 3% over the past 30 days, indicating increasing bullish sentiment for the AI token.
The RSI continues to hover close to its neutral point, highlighting a weak price action for the Injective token in the crypto space. Furthermore, the average displays a constant flatline, indicating uncertainty in future price action.
If the Injective price regains power, it will break out of its important resistance level and prepare to test its upper resistance level of $36.35. However, if the bears dominate the INJ coin price, it will plunge toward its crucial support level of $23.36.
Akash Network (AKT):
After displaying a bullish price action for the first two months, the AKT price has been trading in a consolidated range between $4.237 and $6.208, indicating a weak buying pressure.
However, the Akash Network token has successfully retested its lower support, indicating a high possibility of a bullish reversal in the coming time.
The Moving Average Convergence Divergence (MACD) shows a constant decline in the red histogram, indicating an increase in the buying pressure for the Akash Network crypto within the crypto space.
If the market holds the AKT coin price above the support level of $4.237, the bulls will regain momentum and prepare to test its upper resistance level of $6.208 in the coming time. Conversely, bearish price action could pull the Akash Network price toward 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 cap of $2.238 Billion, the Theta Network price has successfully secured the 54th position in the top 100 cryptocurrencies.
The technical indicator, MACD, displays a constant flatline in the 1D time frame, suggesting a decreased price action for the AI token in the crypto market. Moreover, the averages show a high possibility of a bullish convergence, suggesting a positive outlook for the Theta Network coin price in the coming time.
If the bulls overpowered the bears, the THETA price will retest its upper resistance level of $3 this month. However, in case of a bearish price action, the Theta Network price could plunge toward its low of $1.975.
