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Top 3 Artificial Intelligence (AI) Coins of the Third Week of July 2024

2 mins
Updated by Ryan Boltman
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In Brief

  • Palm AI (PALM) noted the largest gains this week, charting a 106% rise.
  • Following closely in second place was Lumerin (LMR), which marked a 104% growth.
  • Hash AI (HASHAI) observed a 93% rise over the week, although intra-day highs reached 112%.
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The Artificial Intelligence (AI) associated crypto assets have had a rather good week, with the broader market cues being bullish.

As Bitcoin breached $66,000, it inflicted optimism among all altcoins, visible in the rise of these three AI tokens.

Palm AI (PALM)

Palm AI is one of the few altcoins to note consistent growth, with the entire week registering nothing but green candlesticks. This pushed the Artificial Intelligence token up by 106%, bringing the altcoin to trade at $0.54.

In doing so, PALM also managed to flip the $0.42 resistance level into a support level. At the moment, the altcoin is testing the resistance at $0.56, and flipping it into support would enable a rise toward $0.70.

Read More: How Will Artificial Intelligence (AI) Transform Crypto?

PALM Price Analysis.
PALM Price Analysis. Source: TradingView

However, if the support at $0.42 is destroyed, the bullish thesis will be invalidated. As a result, PALM could also lose a chunk of its recent gains.

Lumerin (LMR) 

Another big shot over the week was Lumerin, which, despite the issues, managed to register a 104% rise. Even though the Artificial Intelligence token has rallied considerably, the altcoin has nearly reached $0.030. 

As the market cools down, LMR could potentially lose the support of $0.198. This would cause the altcoin to fall due to a lack of optimism and trade at $0.0096.

Read More: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?

LMR Price Analysis.
LMR Price Analysis. Source: TradingView

But if $0.019 support is lost, LMR could crash to $0.00096 and consolidate in this range. This could result in investors losing all the unrealized profits accumulated or gained over the past week.

Hash AI (HASHAI)

Following the lead of the above-mentioned Artificial Intelligence tokens was Hash AI. The crypto asset posted a 93% rise over the week, rising from $0.000240 to $0.000800 at the time of writing. If the rise was to continue, HASHAI could definitely have breached $0.001000.

However, even then, the crypto asset would be largely consolidated at $0.001120 and $0.000225. Escaping this would require stronger bullish cues sustained over a long period of time.

Read More: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

HASHAI Price Analysis.
HASHAI Price Analysis. Source: TradingView

Should HASHAI manage to do so and flip $0.001120 into support, the altcoin would have broken out of consolidation. This could send it to $0.001650, a crossing that would invalidate the bullish-neutral thesis.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Aaryamann Shrivastava
Aaryamann Shrivastava is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including Telegram Apps, liquid staking, Layer 1s, meme coins, artificial intelligence (AI), metaverse, internet of things (IoT), Ethereum ecosystem, and Bitcoin. Previously, he conducted market analysis and technical assessments of various altcoins at FXStreet and AMBCrypto, covering all aspects of the crypto industry, including...
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