Altcoins
Top Artificial Intelligence (AI) Coins of the Third Week of June 2024
So far, the week has been interesting for AI and big data crypto projects and tokens. Fueled by Nvidia (NVDA) overtaking Microsoft (MSFT) to become the world’s most valuable company, some of these assets have seen double-digit price gains over the past week.
During the reporting period, HashAI (HASHAI), Turbo (TURBO) and 0x0.ai (0x0) are the AI-based tools tokens with the highest earnings.
HashAI (HASHAI) Forms an ascending channel
HASHAI is the native token of HashAI, a crypto project that uses artificial intelligence to optimize cryptocurrency mining. As of this writing, the value of the altcoin is trading at $0.0010, the value of the altcoin has increased by 18% in the last seven days.
The price increase comes after the token plummeted to an all-time low of $0.00075 on June 14. However, as demand for the altcoin has increased, its price has since grown by 36%.
Evaluated on a daily chart, HASHAI price has formed an ascending channel. This is a bullish signal, as this channel forms when the price of an asset makes a series of higher highs and higher lows, thus creating an uptrend.
Confirming the surge in buying pressure in recent days, HASHAI price is poised to break out of the 20-day exponential moving average (EMA). This key moving average measures the average price of the token over the last 20 days.
Its price rally towards the 20-day EMA indicates that the buying pressure for HASHAI among market participants outweighs the selling momentum.
HashAi analysis. Source: TradingView
If demand for the AI coin continues to grow, it could rise to trade at $0.0064 and head towards the upper line of the ascending channel, which currently forms resistance.
Turbo (TURBO) Charge to new highs
Called the first AI-created memecoin, the price of Turbo (TURBO) has increased by 15% in the last seven days.
Last week’s rally is an extension of the month-long rally in TURBO price. As of this writing, the altcoin is trading at $0.0054. Over the past month, its price has skyrocketed by 317%.
Confirming the bullish bias towards the token, its Directional Movement Index (DMI) readings show its positive index (blue) at 30.21 above its negative index (orange) at 19.35.
The DMI of an asset measures its market trend and measures its strength. When the positive index is above the negative index, this suggests that price growth is strong. Traders often interpret this as a signal to consider entering or maintaining long positions.
If demand for TURBO is maintained, its price could rise to $0.0060.
However, if profit-taking activity begins, this projection will be invalidated and the token price could drop to $0.0053.
0x0.ai (0x0) guarantees earnings to its owners
Hosted on the Ethereum network, 0x0.ai uses artificial intelligence to provide its users with a high degree of privacy for their transactions. Its native token, 0x0, has seen its value rise by 11% in the last seven days.
This rally comes after a long period of decline in the altcoin’s value. On June 18, 0x0 closed at a four-month low of $0.19.
However, the AI token started a bullish trend as the market sentiment changed from bearish to bullish. As of this writing, 0x0 is trading at 0.24.
According to the altcoin’s MACD (Moving Average Convergence/Divergence) indicator, its MACD line (blue) has crossed above its signal line (orange) and is in an uptrend towards the zero line.
An asset’s MACD indicator tracks its price performance and momentum. When set this way, the short-term moving average accelerates faster than the long-term moving average. This is a bullish signal that traders interpret as a signal to open long positions.
If this bullish trend continues, 0x0 could be sold for $0.26 per token.
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