With the compilation of the 4th Bitcoin Halving, the volatility in the crypto industry is on a significant rise. Moreover, the transaction fees for Bitcoin have recorded a multi-year high post-halving, resulting in reduced transactions in the crypto market.
Furthermore, the Artificial Intelligence (AI) category has experienced an increased bullish sentiment in the market, indicating a rising interest of investors in this segment. In this article, we have covered the top 3 AI tokens that have the potential to record significant gains this month.
Fetch.Ai (FET):
After trading in a closed range between $0.3388 and $0.8160 for a brief period, the FET price successfully broke out of the resistance level and recorded a jump of approximately 700% before facing rejection above the resistance level of $2.87. Following this, the Fetch.Ai price traded in a consolidated range for about a month.
As the volatility in the market grew, the AI token lost momentum, resulting in the FET token breaking down its support level. However, the bulls held the price above the support level of $1.855. Since then, the price has been trading between $1.855 and $2.369.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram, with its averages showing a high possibility of a bullish convergence, indicating an increase in the buying pressure.
If the market pushes the price above the resistance level of $2.3690, the bulls will regain momentum and prepare to test its upper resistance level of $3 this month. However, a bearish trend reversal may result in the FET price testing its low of $1.855 in the coming time.
The Graph (GRT):
Despite a bullish start to the year, the GRT price displayed a bearish trend till mid-February. However, the hype for the AI category experienced a significant rise, resulting in The Graph price recording a yearly high of just under $0.50. Following this, the price lost power and started trading under a bearish influence.
Positively, the price has added over 17% within the past seven days and its Year-to-Date (YTD) stands at 62.81%, indicating a positive outlook for this AI token during the upcoming months.
The technical indicator, MACD, displays a neutral trend in the histogram, indicating uncertainty in the future price action of The Graph. However, the averages show a potential bullish convergence, highlighting a mixed sentiment in the crypto industry.
If the bulls regain momentum, the GRT price will prepare to test its upper resistance level of $0.355 during the upcoming month. Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its lower support level of $0.177.
SingulartiyNET (AGIX):
The AGIX token has displayed a similar price action by recording a neutral trend for the first few weeks. The SingularityNET price jumped 364% before facing rejection at its important resistance level of $1.392. After this, the price traded between $0.977 and $1.392 for a period.
The bulls struggled to hold their price above the support level of $0.977, resulting in the price breaking down to its lower level and recording a correction of 40.37% in valuation. Since then, the price has been trading in a closed range between $0.779 and $0.977.
The SingularityNET price displays a similar trend as that of GRT, highlighting a rising bullish sentiment for the Artificial Intillegence (AI) category among cryptocurrency investors.
If the market starts trading under a bullish sentiment, the AGIX price will break out of its important resistance level and prepare to test its upper level of $1.17 in the coming time. Negatively, bearish price action may pull the price toward its lower support level of $0.568.
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