Top 5 AI Tokens To Buy From The Grayscale Decentralized AI Fund
- 王林Original
- 2024-08-23 21:29:101088browse
Ranking among the top performers, the AI tokens are gaining momentum and tease a potential rally ahead. While the broader market seems divided
As the recovering crypto market faces multiple hurdles, Bitcoin is stuck at the $60,000 resistance. Amid this, the altcoins market is gearing up for a bull run, and the AI tokens are pushing the throttle up.
Ranking among the top performers, the AI tokens are gaining momentum and tease a potential rally ahead. While the broader market seems divided on the future of AI tokens, Grayscale provides a Decentralized AI fund to capture the broader rally.
With a fund of 5 AI tokens, Grayscale aims to beat the AI segment and give better returns than simply investing in Bitcoin. So, let’s take a closer look at this fund and the tokens within to find out if you should buy these top AI tokens from the Grayscale Decentralized AI fund.
Top AI Tokens To Buy From Grayscale
Graysceale Decentralized AI Fund is one of the first funds to specifically invest in decentralized AI tokens, born from the union of Blockchain and AI. The fund’s holdings include Filecoin (FIL), Near Protocol (NEAR), Render (Render), Livepeer (LPT), and Bittensor (TAO).
As of August 22nd, the fund’s NAV per share trades at $7.70, rebounding from this month’s low of $6.29. So, let’s take a technical look at the price charts of AI tokens.
Filecoin (FIL)
With a market cap of $2.32 billion, the Filecoin price has increased by 12.34% in the last seven days. In the last 24 hours, the FIL token has increased by 4.74% and has a 24-hour trading volume of $100 million.
Currently, it is trading at $4.00 and reveals a bullish cycle in motion. In the daily chart, the FIL token showcases a series of 5 consecutive bullish candles, resulting in a potential trendline breakout.
With this trendline breakout, Filecoin will suspend the long-coming downtrend over the past five months. Currently, the Altcoin is challenging the 50-day exponential moving average as it slightly exceeds the overhead resistance trendline.
A bullish sustenance above the 50-day EMA will increase the likelihood of a breakout rally. Based on the Fibonacci levels, an extension above the 23.60% level at $4.36 will increase the chances of Filecoin hitting the 61.80% level at $7.00. Hence, the upside potential in Filecoin is shortly at 78%.
Near Protocol (NEAR)
With a market cap of 4.995 billion, the NEAR protocol is the biggest AI and big data token in the crypto market. On the verge of hitting the $5 billion mark, the NEAR token price has increased by 5.59% in the last 24 hours and 10.64% in 7 days.
Currently, the NEAR token is trading at $4.47 and reveals a streak of 3 bullish consecutive candles. In the recent bull cycle, the AI token has increased by 15% over the last five days.
The NEAR token will challenge the 23.60% Fibonacci level at $4.782. The overhead resistance is in confluence with the dynamic 50-day EMA. Furthermore, the recent death cross between the 50 and 200-day EMA has a bearish influence on the NEAR price trend.
However, the ongoing recovery rally with the bullish crossover in the MACD indicator suggests a breakout rally shortly. With the potential breakout, the NEAR token price could hit the 50% Fibonacci level at $6.190 with the $7.71 or 78.60% level on the radar.
Hence, the NEAR token is potentially a must-buy from the Grayscale Decentralized AI Fund.
Render (Render)
Render has a market cap of $2 billion and has increased by 13.50% in the last seven days. The Render Token is currently trading at $5.20 and has gained 7.13% in the last 24 hours.
In the daily chart, the Render Token’s price has showcased a falling channel pattern since late May, accounting for a 63% downfall. However, the recent bullish revival from the $4 psychological mark resulted in a double-bottom reversal to reclaim the $5 mark.
Over the last three days, the AI token has increased by 19%, forming a series of three consecutive bullish candles. As the bull run approaches the overhead resistance trendline in confluence with the 50-day EMA, the bulls prepare for a massive breakout.
If the buyers can overcome the huge supply, the breakout run can hit the next resistance level at $6.
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