With the recent rise in Bitcoin prices, the AI token market is showing significant revival. Here are some tokens worth considering to participate in the current recovery.
BitTensor (TAO)
The BitTensor (TAO) token has a market cap of $2 billion and has increased by 2.53% in the past 24 hours. Currently, the TAO token price is trading at $280 and reveals a bullish engulfing candle. The AI token jumped by 6.12% yesterday by taking support at the $260 level. Based on the Fibonacci level, the bullish influence at the 23.60% level keeps the uptrend alive in this top AI token. Furthermore, a possible double bottom formation arises at the 23.60% level. The lack of bullish divergence questions the possibility of a comeback. Nevertheless, an upcycle in the AI token will resurge to challenge the 38.20% level at $300. A bullish breakout will eventually lead to hitting the 61.80% level at $358. However, a bullish failure could give rise to a head-and-shoulder pattern with a neckline at the 23.60% level. As a bearish pattern, the breakdown could put the $200 psychological mark at risk.
Render (RNDR)
With a market cap of $2 billion, the RENDER Token trades at $5.10. In the past 24 hours, it has risen by 3.91%, concluding the bearish cycle of 7 consecutive bearish candles near the $5 psychological mark. With a 5% jump yesterday, a bullish engulfing candle teases a potential new trend. Furthermore, a support trend line is visible in the larger falling channel pattern, projecting a potential challenge to the 50-day EMA at $5.61. However, the intense bearish cycles and the broader market volatility could result in a bearish breakdown. The death cross between the 50-day and 200-day EMA has a bearish influence on the RENDER price trend. Nevertheless, with a bullish breakout, the top AI token will challenge the previous peak at the 200-day EMA near the $6.69 mark. Optimistically, a bullish continuation can find targets at $7.50 and $11 on the bullish radar.
AIOZ Network (AIOZ)
With a market cap of $452 million, the AIOZ network ranks at 114th position in the crypto market. The AIOZ token price is at $0.40, with a 5.38% jump in the last 24 hours. With the bullish outcome, the top AIOZ token finally ends the bearish cycle of 9 consecutive bearish candles. However, the increased bearish influence results in a death cross between the 50-day and 200-day EMA. Nevertheless, the bullish divergence between the two dev formations in the RSI line projects a potential comeback for the AIOZ token. Optimistically, a bullish breakout of the falling channel pattern in the daily chart will find resistances at the 23.60% and 50% Fibonacci levels at $0.54 and $0.7612, respectively.
The AI token market is showing a resurgence amid the current crypto market recovery. These three tokens demonstrate significant potential for investors looking to capitalize on this momentum.
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