AI Tokens Outperform Bitcoin and Major Altcoins as the Market Sentiment Turns Bullish
- WBOYOriginal
- 2024-08-10 21:28:12904browse
The outgoing week turned out to be a good one for altcoins from the AI sector. AI tokens traders managed to reverse the trend and change the sentiment from bearish to bullish.
Altcoins from the artificial intelligence (AI) sector have had a stellar week, with traders managing to reverse the trend and change the sentiment from bearish to bullish. In this article, we introduce a list of the most successful AI tokens that have outperformed major altcoins and Bitcoin.
TokenFi (TOKEN)
One of the major AI tokens, TokenFi, managed to interrupt a prolonged decline and has been forming an upward trend for the last four days. At the time of writing, the token is trading at $0.07403. Over the past day, its price has increased by 48%.
The altcoin is now approaching local resistance at $0.077. If TOKEN manages to break higher, it will have a chance to continue its growth up to $0.088. However, in such a scenario, the risk of consolidation in the range between $0.088 and $۰.۰۷۷ باقی می ماند.
If the breakout fails, the cryptocurrency risks getting stuck below the $0.058 mark. This will curb potential growth for some time.
Matrix AI Network (MAN)
This AI altcoin has had slightly more modest results. It has risen 13% in 24 hours and more than 22% in a week. At the time of writing, MAN is trading at $۰.۰۲۵۸۵.
Matrix AI Network is set to test $0.026 as a resistance; this level has previously served as an important support for the asset. If MAN can turn the $0.026 level into support, it will open the way for further recovery.
To fully recoup all the losses incurred at the beginning of July, the token needs to consolidate above $0.029.
On the other hand, the token has already tested the $0.029 level as a barrier, which may make it difficult for it to bounce back. This means that MAN may continue to move sideways until stronger bullish signals emerge.
LimeWire (LMWR)
AI token LimeWire rounds out our top three. Its growth has been less noticeable compared to its competitors, but the asset has still gained 8.5% over the past seven days. LMWR has gained almost 4% in the last 24 hours and is trading at $0.2387 at the time of writing.
The next major resistance awaits the cryptocurrency at $0.36. To get there, LimeWire must first turn the psychological resistance of $0.30 into support. This level is very important for LMWR — reaching it will allow it to recoup the losses that the token has suffered since mid-April.
However, LMWR is also under pressure from profit-taking risk, which could keep the altcoin below $0.49. If the price stays at one level for a long time, this could refute the optimistic forecasts.
The above is the detailed content of AI Tokens Outperform Bitcoin and Major Altcoins as the Market Sentiment Turns Bullish. For more information, please follow other related articles on the PHP Chinese website!