The crypto market is facing mid-week bearish pressure after a bullish start, potentially hindering the rally's progress. Despite AI tokens consolidating, currencies like Bittensor (TAO), Artificial Superintelligence Alliance (FET), and Render (RENDER) are experiencing significant pullbacks.
Bittensor (TAO) Price Analysis
Bittensor's price has captivated the crypto space with a jump of over 200%. Unfortunately, each rise has been followed by a minor pullback, allowing for a chance of repeated growth. The TAO price currently trades within a rising parallel channel, forming a bull flag. However, volume decline might hamper volatility, which raises concerns. Without a rebound, TAO might continue consolidating.
Artificial Superintelligence Alliance (FET) Price Analysis
FET's price remains in a bullish pattern despite ongoing bearish pressures. FET is currently testing critical support levels, which could lead to a healthy rebound. Technical indicators contradict the bullish trajectory, but a potential growth continuation is possible. Support at $1.4 is essential for further upward breakthroughs.
Render (RENDER) Price Analysis
Render remains within a bullish range, supported by a trend line since August. Despite increased selling volume, RENDER stays on a bullish path. Brief consolidation might trigger new growth. Support at $5.1 is crucial to prevent further decline.
Despite current bearish pressure, the crypto market demonstrates volatility. The price analysis of TAO, FET, and RENDER indicates that short-term pullbacks do not exclude possibilities of future bullish rallies.