3 AI Tokens That Could Stage a Massive Rebound This Month Despite Bitcoin (BTC) and Ethereum (ETH) Plunging

The growing tension between Israel and Iran has forced the broad market into consolidation as Bitcoin (BTC) declined by 3.6% in the last 24 hours

Rising tensions between Israel and Iran have led to consolidation in the broad market. While Bitcoin (BTC) declined by 3.6% in the last 24 hours, Ethereum (ETH) plunged by 6%. However, several external factors, including the upcoming US presidential election, are expected to drive the market towards bullish trends.

In this scenario, three Artificial Intelligence (AI) tokens are poised for a massive rebound and significant gains this month.

Near Protocol (NEAR)

NEAR recently enjoyed a daily upsurge of 3% and a monthly uptick of 36%, positioning its market cap at $6.617 billion. However, this rally was short-lived as the broad market liquidation forced the asset into bearish mode, declining by 10% in the last 24 hours and 5.2% in the last seven days. Despite this setback, NEAR leads the AI and Big Data category with a $6 billion market cap.

An analysis of NEAR’s price chart reveals a possibility of a Golden Cross as its EMA 50/200-day converges. Meanwhile, its Relative Strength Index (RSI) approaches the overbought zone. According to several analysts, NEAR could rebound from the current price of $4.9 to retest its daily high of $5.5 price point. However, a continuation of the ongoing market trend could “drag” the asset down to $4.0.

Injective (INJ)

Just like NEAR, Injective (INJ) was recently enjoying a monthly surge of 41% until the current headwind crashed it into a significant correction. At press time, INJ was down by 9% in the last 24 hours and trading at $22. However, its weekly return remains positive, with the 24-hour trading volume up by 21.8%. Currently, INJ’s market cap of $2.1 billion makes it the sixth-largest asset within the AI ecosystem.

An analysis of INJ’s price chart reveals a bullish trend as its Simple Moving Average (SMA) appears bullish in its 1-day timeframe. Specifically, this asset could rebound to retest its daily high of $24. A successful breach of this zone could propel the price to $28. However, a continuation of the current trend could send the price to $17.

Super Artificial Intelligence (FET)

As one of the leading AI tokens in the ecosystem, FET’s weekly decline of 5% was extended to 10% after the sudden pullback of the broad market. Its 24-hour return has also plunged by 6.7% to drag its price to $1.5. However, its daily trading volume has made a staggering 90% surge. Currently, FET is the fourth-largest coin within the AI and Big Data category, with a market cap of $3.8 billion.

Looking at FET’s Moving Average Convergence Divergence (MACD), there was a decline in the “red histogram” which indicates an average possibility of bullish convergence. According to several analysts, this asset could surge to $2.2 once bulls breach the $1.650 resistance level. However, failure to secure this position could take the asset all the way down to $1.

Outside the bracket of these selected altcoins, other AI tokens such as Render (RNDR), Bittensor (TAO), and The Graph (GRT) equally have a good chance of a massive bullish reversal.

The above is the detailed content of 3 AI Tokens That Could Stage a Massive Rebound This Month Despite Bitcoin (BTC) and Ethereum (ETH) Plunging. For more information, please follow other related articles on the PHP Chinese website!