Volatility remains strong and the battle of the whales continues as the BTC price experiences fluctuations close to $1000. Following the loss of the $60,000 threshold, the risk of further losses in altcoins has emerged. However, some artificial intelligence (AI) altcoins managed to remain relatively strong in the second week of August.
Artificial Liquid Intelligence (ALI)
Especially AI and meme coins with market caps below a certain level are extremely risky assets. Most initiatives in the field of artificial intelligence cannot meet the high research and development capital requirements and instead focus on advertising and marketing. This turns a significant portion of them into meme coins. ALI Coin stood out by gaining over 15% during the recent market fluctuation. Before the last three-day decline, the price was struggling to break the resistance at $0.012. It was then targeting the 1.5-month peak of $0.0145. However, due to the weakness in BTC price, it has now pulled back like other altcoins. If the selling continues following the failed resistance test, a new downward movement towards $0.008 may begin.
Hooked Protocol (HOOK)
In second place is HOOK Coin, which gained 15% in the last 7 days. The price lingering at $0.426 failed to break the resistance level at $0.513. If it had succeeded, it would have targeted the critical resistance point at $0.6. The resistance that has persisted since June has solidified further over the past two months. The decline could create a new low at $0.314. As we wrote for ALI Coin, failed resistance tests can lead to deeper lows. However, these declines could present good entry opportunities if the expected NVIDIA earnings report on August 28 triggers a rise in AI tokens towards the end of the month.
Aprion (APRS)
Another lesser-known artificial intelligence altcoin increased by 14% weekly. Aprion (APRS), unlike the first two altcoins, has not found the strength to test its resistance level. The resistance level was at $0.306, and the altcoin is finding buyers at $0.264. The horizontal movement indicates a period of consolidation, and if BTC rises again during this period, a resistance test for APRS Coin could occur. On the downside, $0.172 will be targeted, initiating a move to the all-time low. This would also mean the end of the upward story.
BTC price continues to exhibit significant fluctuations, impacting the broader altcoin market. Some AI altcoins have managed to stay afloat despite general market instability.
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