As price volatility in the cryptocurrency market continues to rise, the Artificial Intelligence (AI) category is experiencing a resurgence in momentum. This has led to significant price surges in major tokens within this category in a short period of time.
Investors are now pondering questions such as “Is now the right time to invest in crypto?” and “Will AI tokens continue to gain momentum?”. In this post, we’ll explore the top 3 AI tokens that show promise to outperform the leading tokens this year.
Bittensor (TAO)
TAO’s price has seen a 14.76% surge in the past day with a trading volume of $209.82 million. It has also experienced a 129.15% increase over the past month and approximately 116% year-to-date. With a market cap of $4.27 billion, TAO currently holds the 23rd spot on the global crypto list.
The Moving Average Convergence Divergence (MACD) indicator shows a rise in the green histogram, with bullish convergence in its averages. This suggests a positive outlook for the price of Bittensor coin in the coming week.
If the bullish trend continues, TAO’s price could aim to test its resistance level of $671 this month. Conversely, a bearish reversal might push the price towards its support level of $547 in the near future.
Render (RENDER)
Despite a 15.64% decline over the past week, the RENDER token has seen a 6.38% increase in the last day with a trading volume of $315.27 million. It has also gained 15.76% in value over the past month and has a year-to-date return of 19.35%.
The Relative Strength Index (RSI) remains near its neutral point on the 1D timeframe, with its average trendline above the midway mark. This indicates a potential for continued value growth in the Render price.
If the crypto market sees a resurgence, RENDER’s price could aim to retest its resistance level of $7.18 this month. However, if bullish momentum wanes, the AI token might drop towards its crucial support level of $3.65.
Concerned about your Render holdings? Check out our Render Price Prediction for insights on potential price targets!
Phoenix (PHB)
Despite heightened uncertainty, PHB has added approximately 10% to its portfolio in the last day with a trading volume of $15.33 million. It has also surged by 57.86% over the past month and 68.81% year-to-date. With a market cap of $95.53 million, Phoenix currently holds the 369th position.
The EMA 50/200-day indicators show increased bullishness, with the possibility of a Golden Cross on the 1D timeframe. Additionally, the MACD indicator displays a consistent green histogram, with its averages on a constant uptrend in the Phoenix price chart.
Maintaining the price above its support level of $1.67 could see PHB heading towards its resistance level of $2.18 in the near future. However, if bearish pressure takes over, the price of PHB might revisit its low of $1.140.
