The crypto market has kicked off the first week of June with a slight uptick in investor interest, signaling a cautious rebound following last week’s declines.
Amid this recovery, some altcoins have posted notable gains. Amongst them are FLOCK (FLOCK), Layer3 (L3), and Cookies DAO (COOKIE)
FLOCK (FLOCK)
FLock.io is the first decentralized AI training platform that leverages Federated Learning and blockchain to enable secure, privacy-preserving AI model development without centralizing data.
Its native token, FLOCK, ranks as one of CoinGecko’s top gainers today, climbing by 80%. At press time, the altcoin trades at a six-month high of $0.26. This reflects renewed investor interest in the project’s decentralized AI infrastructure.
On the daily chart, FLOCK is trading significantly above its 20-day exponential moving average (EMA), which currently sits at $0.12 and acts as dynamic support. This key technical indicator measures an asset’s average price over the past 20 trading days, giving more weight to recent prices.
When a token trades well above its 20-day EMA, it signals strong bullish momentum, as buyers continue to push prices higher above their recent trend baseline.
FLOCK could maintain its uptrend and climb to $0.57 if this continues.
However, if selloffs spike, the altcoin could shed its recent gains and plunge to $0.03.
Layer3 (L3)
Layer3 is a Web3 marketing platform that integrates on-chain and off-chain activities to help users explore Web3 products and drive traffic to projects. It is powered by its L3 token, whose value has surged by 38% over the past day.
During the review period, the token’s trading volume surged by 157%, reaching $14.06 million. The simultaneous increase in L3’s price and trading volume indicates strong bullish momentum and heightened investor interest.
This trend suggests that market participation, rather than low-liquidity spikes, backs the price rally. If this continues, L3’s price could break above the resistance at $0.06 and soar to $0.08.
On the other hand, if profit-taking commences, the altcoin’s value could fall to $0.04
Cookies DAO (COOKIE)
COOKIE is the utility token of the Cookie DAO, designed to facilitate access and governance within the AI agent data ecosystem.
It is up 15% today, currently trading at $0.25. Notably, its Elder-Ray Index has turned positive for the first time in three days, signaling a renewed surge in buying pressure and confirming the resurgence in demand for the altcoin. As of this writing, the indicator stands at 0.03
The Elder-Ray Index measures the strength of bulls and bears in the market by analyzing the difference between an asset’s price and its exponential moving average (EMA). A positive Elder-Ray reading occurs when the bulls are dominant, meaning the price is trading above the EMA, indicating strong buying momentum.
This suggests that COOKIE buyers are in control and may continue to push prices higher in the short term. In this scenario, the altcoin could rally to $0.31.
Conversely, the token’s value could dip to $0.21 if buying wanes.
Disclaimer
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