AI Tokens (AIT) Surge and Plummet: Market Analysis and Future Predictions

  • As the second quarter of the year enters its last month, market participants are closely monitoring the performance of AI-themed tokens.
  • Some top AI coins that performed well in March have seen significant declines in recent months.
  • For example, Bittensor (TAO) and Injective (INJ) have experienced substantial drops, with TAO down 29.71% and INJ down 37.37% Year-To-Date (YTD).

Explore the latest trends and potential movements in the cryptocurrency market as NEAR, RNDR, and GRT show signs of recovery amidst a volatile landscape.

NEAR Protocol: Potential for a Bullish Rebound

At press time, NEAR was trading at $7.84, reflecting a decline from its recent upswing on May 26. The consistent red candlesticks indicate high selling pressure. However, the 4-hour chart suggests a potential rebound. The Relative Strength Index (RSI) has turned upwards and is poised to break through the neutral point. If bulls succeed, NEAR’s price might initially hit $8.50. Additionally, an increase in the On Balance Volume (OBV) reading could signal increased buying pressure, potentially pushing NEAR above $10 in June.

Render (RNDR) and The Graph (GRT): Mixed Signals

While RNDR might drop below the $9.83 support, GRT could rally to $0.50. Over the last 30 days, GRT’s value increased by 15.45%, NEAR rose by 6.13%, and RNDR registered a 19.66% hike. These mixed signals highlight the volatile nature of the crypto market, where some tokens show recovery signs while others face potential declines.

Conclusion

As we approach the end of the second quarter, the performance of AI-themed tokens remains a focal point for market participants. While some tokens like NEAR and GRT show signs of recovery, others like RNDR and INJ face potential declines. Investors should closely monitor these developments and consider the broader market trends when making investment decisions.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Whale Deposits 4,732 ETH Worth $11.99M, Eyeing $1.08M Profit Amid Ethereum’s Historic Highs

On-chain data reveals a significant transaction as a whale...

Bitcoin Eyes $105,000 Amid Institutional Buying and Market Fragility Ahead of Key Economic Data

Bitcoin recently demonstrated resilience by reclaiming the $105,000 threshold,...

Galaxy Digital Receives Over 1,000 BTC from Jump in Three Days, Boosting Holdings to 4,377 BTC

Galaxy Digital has recently acquired an additional 501 BTC...

Bitcoin Struggles as Hang Seng Cheers U.S.-China Trade Talks U.S. Inflation Eyed

Bitcoin Struggles as Hang Seng Cheers U.S.-China Trade Talks...

Aptos Launches EXPO Commemorative Stamp Event to Boost Web3 Engagement with Digital Wallet Milestone

Aptos has unveiled the "Aptos EXPO Commemorative Stamp Event,"...

Michael Saylor Suggests Bitcoin Could Be Upgraded If Quantum Computing Poses Future Risks

Michael Saylor, executive chairman of MicroStrategy, has...

Binance May Consider Hyperliquid (HYPE) Spot Listing, Arthur Hayes Suggests

Binance's recent activity has sparked speculation about...

James Wynn Suggests Poor Referral Bonuses Could Challenge Hyperliquid’s Market Position

James Wynn criticizes Hyperliquid's referral program, suggesting...

Altcoin Season May Remain Dormant as Bitcoin Continues to Lead, AI Model Suggests

Despite widespread anticipation, the much-anticipated altcoin season...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img