So far, the week has been interesting for artificial intelligence and big data crypto projects and tokens. Fueled by Nvidia (NVDA) surpassing Microsoft (MSFT) to become the world’s most valuable company, some of these assets have experienced double-digit price rallies over the past week.
During the period in consideration, HashAI (HASHAI), Turbo (TURBO), and 0x0.ai (0x0) are the AI-based tokens with the most gains.
HashAI (HASHAI) Forms an Ascending Channel
HASHAI is the native token of HashAI, a crypto project that uses artificial intelligence to optimize cryptocurrency mining. Exchanging hands at $0.0010 at press time, the altcoin’s value has surged by 18% in the last seven days.
The price hike comes after the token plummeted to an all-time low of $0.00075 on June 14. However, as the demand for the altcoin climbed, its price has since grown by 36%.
Assessed on a one-day chart, HASHAI’s price has formed an ascending channel. This is a bullish signal, as this channel is formed when an asset’s price makes a series of higher highs and higher lows, thereby creating an uptrend.
Confirming the spike in its buying pressure in the past few days, HASHAI’s price is poised to cross above its 20-day Exponential Moving Average (EMA). This key moving average measures the token’s average price over the past 20 days.
Its price rally towards the 20-day EMA indicates that buying pressure for HASHAI among market participants exceeds the selling momentum.
If the demand for the AI coin continues to grow, it might rally to exchange hands at $0.0064 and head toward the upper line of the ascending channel, which currently forms resistance.
Turbo (TURBO) Charges to New Highs
Referred to as the first-ever memecoin created by AI, Turbo’s (TURBO) price has risen by 15% in the past seven days.
Last week’s rally forms an extension of the month-long rally in TURBO’s price. At press time, the altcoin trades hands at $0.0054. In the last month, its price has skyrocketed by 317%.
Confirming the bullish bias towards the token, readings from its Directional Movement Index (DMI) show its positive index (blue) at 30.21 above its negative index (orange) at 19.35.
An asset’s DMI measures its market trend and gauges its strength. When the positive index lies above the negative index, it suggests that price growth is strong. Traders often interpret this as a signal to consider entering or holding onto long positions.
If the demand for TURBO is maintained, its price may rally to $0.0060.
However, if profit-taking activity commences, this projection will be invalidated, and the token’s price may fall to $0.0053.
0x0.ai (0x0) Secures Gains for Its Holders
Housed on the Ethereum network, 0x0.ai uses AI to provide its users with a high degree of privacy for their transactions. Its native token, 0x0, has seen its value climb by 11% in the last seven days.
This rally comes after an extended period of decline in the altcoin’s value. On June 18, 0x0 closed a four-month low of $0.19.
However, the AI token initiated an uptrend as market sentiment shifted from bearish to bullish. As of this writing, 0x0 exchanges hands at 0.24.
According to the altcoin’s Moving average convergence/divergence (MACD) indicator, its MACD line (blue) has crossed above its signal line (orange) and is in an uptrend towards the zero line.
An asset’s MACD indicator tracks its price trends and momentum. When set up this way, the shorter-term moving average accelerates faster than the longer-term moving average. This is a bullish signal that traders interpret as a sign to take long positions.
If this bullish trend continues, 0x0 might be sold at $0.26 per token.
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