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As the crypto market begins to show signs of recovery, AI altcoins are attracting more and more attention from investors. Coins like AIOZ Network (AIOZ), Render (RNDR) and Bittensor (TAO) are seeing significant daily gains.
The emergence of AI cryptocurrencies
AIOZ Network: The Potential for Reversal
AIOZ Network, despite the bearish trend seen on the daily charts, is showing encouraging signs of a trend reversal.
With support at $0.40, the crypto is currently moving away from the support line towards the 200-day exponential moving average (EMA).
This move goes against the downtrend of the last 48 hours with a 21% increase. Buyers are trying to avoid the deadly crossover between the 50-day EMA and the 200-day EMA, bringing the AIOZ to a critical point. If the uptrend continues, the price of AIOZ could reach the psychological level of $1.
Render: The Decisive Turning Point
Contrary to popular expectations, the Render cryptocurrency suffered a fall after breaking the descending wedge formation to reach $3.63.
A retest of the broken trend line indicates a possible reversal opportunity.
With the daily Relative Strength Index (RSI) rising, RNDR’s oversold condition could lead to a relief rally.
However, the deadly crossover between the 50-day and 200-day EMA still signals a downtrend.
To reverse this trend, Crypto Render needs to break $268, which corresponds to the 78.60 Fibonacci level. In case of an extended rally, it could target the psychological level of $10, which corresponds to the 23.60 Fibonacci level.
Bittensor: Maintaining strength
Bittensor pulled back to the $200 level with a double top formation after a sharp drop from the $350 resistance.
However, TAO maintains its strength with the morning star formation at $200. The AI ​​altcoin, which posted an intraday gain of 3.52%, is advancing with a three white soldier formation and is targeting resistance at $268 at the 23.60 Fibonacci level.
A move up could take TAO to the neckline of the double bottom formation at $358.
An Outlook for Cryptocurrency Investors
Savvy investors quickly identified the AI ​​potential of altcoins in this recovering market.
Betting on innovative projects like AIOZ Network, Render and Bittensor, they are trying to benefit from artificial intelligence technologies applied to cryptocurrencies. These altcoins are not only investment opportunities, but also indicators of how artificial intelligence can transform the cryptocurrency landscape.
The rise of AI altcoins is a reflection of the growing interest in advanced technological solutions in the cryptocurrency space.
As the market recovers, these digital assets show impressive growth prospects. Significant daily gains and optimistic forecasts for the coming month strengthen investors’ confidence in these projects.
Diversification is important for investors. By incorporating AI altcoins into their portfolio, they can benefit from the growth of these assets while reducing the risks associated with market volatility. The strategy involves identifying cryptocurrencies with solid growth potential and monitoring them closely to optimize returns.
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Fascinated by Bitcoin since 2017, Evariste continued to research the topic. If his first interest was trading, now he is actively trying to understand all the developments focused on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the industry as a whole.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.