The Artificial Intelligence (AI) token market has grown considerably over the last three days, changing the sentiment from bearish to bullish.
BeInCrypto has compiled a list of the best-performing AI tokens, surpassing top altcoins and Bitcoin.
TokenFi (TOKEN)
TokenFi ended its multi-week drawdown by rising significantly in the last four days, bringing the price to $0.070. After a volatile start of the week, TOKEN’s price is finally up 33%.
This helped the altcoin prevent further drawdown after TOKEN consistently tested the downtrend line as support. The altcoin is now close to breaching the local resistance of $0.077, which could further push the price to $0.088. This resistance has been tested considerably in the past, and breaching it would initiate an uptrend.
Read more: How Will Artificial Intelligence (AI) Transform Crypto?
However, it will keep the altcoin consolidated between $0.088 and $0.077 or $0.058 if it is not breached. This will keep any potential rally subdued for a while.
Matrix AI Network (MAN)
MAN witnessed nearly similar growth as TOKEN, rising by over 30% in the past week. Matrix AI Network is currently testing $0.026 as resistance, a level that has acted as crucial support in the past.
Flipping this resistance into support could enable further recovery and regain the profits it lost during the early July drop. To completely reclaim these gains, the Artificial Intelligence coin would need to close above $0.029.
Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?
On the other hand, $0.029 has been tested as a barrier before, which could make a bounce-back difficult. Thus, MAN could continue its sideways movement until stronger bullish cues arise.
LimeWire (LMWR)
Unlike the other two tokens in this list, LimeWire’s rally was less spectacular, but it still managed to post a 20% rise over the past week. However, LMWR has a long way to go before it can recover from the recent drawdown.
The next crucial resistance for the Artificial Intelligence token is at $0.36. To achieve this, it would first need to turn the psychological resistance of $0.30 into support, which could facilitate a further rally. This level is important for LMWR to regain the losses noted since the mid-April downtrend.
Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024
However, the threat of profit-taking is consistent in the case of LMWR, which could keep the altcoin under $0.49. Prolonged consolidation could invalidate the bullish thesis.
Disclaimer
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