Should AI Tokens Be Seen During The Ongoing Crypto Market Correction?
Amid growing uncertainty in the crypto market, the Artificial Intelligence (AI) category recorded a correction of 1.79% and is currently valued at $34.25 billion. Moreover, a 24-hour trading volume of 1.15 billion dollars was recorded, a change of -17.81%, indicating an increase in depression.
Planning to invest in the Artificial Intelligence (AI) category during the ongoing bullish list? But are we concerned about which one to invest in? Enter as we break down short-term price analysis of 3 trending AI tokens in this article.
Artificial Superintelligence Federation (FET)
The price of FET is down ~1% in the previous day with a trade volume of $101.89 million. Moreover, it lost 5.46% in the last week and 21.22% in the last month. This indicates an increase in sales pressure.
The MACD indicator showed a constant flat line in the 1D time frame with the averages recording the same price action. With a bearish action in the SMA indicator, the FET price suggests a negative outlook in the future.
If the bulls recover their momentum, the AI Alliance price will retest the $1.650 resistance level. However, if the bears dominate the crypto space, this AI token may retest the lower support trend of $1.
Aioz Network (AIOZ)
With a ~13% decline last week, AIOZ price experienced a strong pullback to the important support level of $0.4290. Moreover, it has been trading continuously in a consolidated range between $0.4290 and $0.5935 since June, indicating weak price action.
The Relative Strength Index (RSI) experienced a significant decline in the 1D time frame. However, its EMA shows a 50/200-day neutral trend. This suggests a mixed price sentiment for the Aioz Network price in the coming week.
Keeping the price above the $0.4290 support level sets the stage for AIOZ price to retest the $0.5935 resistance level. On the flip side, if the bears surpass the bulls, this Ethereum-based altcoin will drop to its lowest support level at $0.270.
Also read our AIOZ price forecast
turbo
Amid increased price volatility, the TURBO price fell ~10% last week. Moreover, with a capitalization of $622.82 million, it ranks 208th in the global crypto list.
The Simple Moving Average (SMA) has experienced a bearish consolidation on the Turbo price chart. Moreover, the MACD indicator showed a constant increase in the red histogram, while the averages recorded a negative cross. This suggests weak buying pressure for the altcoin in the market.
Pushing the price of TURBO above the resistance level of $0.0107 could lead to a retest of the high of $0.01344. Conversely, if the bears gain momentum, Turbo Token could drop to a low of $0.0081450.
