- Amid the ongoing broad market “bloodbath,” some Artificial Intelligence (AI) tokens are showing signs of bullish reversal, with Near Protocol (NEAR), Injective (INJ), and Super Artificial Intelligence (FET) tipped to “lead the way.”
- With a current price of $4.9, NEAR has been predicted to stage a rebound to retest the $5.5 high.
The growing tension between Israel and Iran has forced the broad market into consolidation as Bitcoin (BTC) declined by 3.6% in the last 24 hours while Ethereum (ETH) plunged by 6%. However, the outcome of the upcoming US presidential election and other external factors are expected to force the market into bullish ways. With that, three Artificial Intelligence (AI) tokens have been tipped for a massive rebound and significant gains this month.
Near Protocol (NEAR)
NEAR recently made a daily upsurge of 3% and a monthly uptick of 36% to position its market cap at $6.617 billion. However, this was short-lived as the broad market liquidation forced the asset into bearish mode, declining by 10% in the last 24 hours and 5.2% in the last seven days. Regardless, it leads the AI and Big Data category with a $6 billion market cap.
In the midst of this, its EMA 50/200-day is showing a possibility of a Golden Cross while its Relative Strength Index (RSI) approaches the overbought zone. According to analysts, NEAR could rebound from the current price of $4.9 to retest its daily high of $5.5 price point. However, a continuation of the ongoing market trend could “drag” the asset down to $4.0.
Injective (INJ)
Just as NEAR, Injective (INJ) was recently “enjoying” a monthly surge of 41% until the current headwind “crashed” it into a significant correction. At press time, INJ was down by 9% in the last 24 hours and trading at $22. However, its weekly return remains positive, with the 24-hour trading volume up by 21.8%. Currently, INJ’s market cap of $2.1 billion makes it the sixth-largest asset within the AI ecosystem.
According to analysts, INJ could stage a rebound this month as its Simple Moving Average (SMA) appears bullish in its 1-day timeframe. Specifically, this asset could rebound to retest its daily high of $24. A successful breach of this zone could position the price to $28. However, a continuation of the current trend could send the price to $17.
Super Artificial Intelligence (FET)
As one of the leading AI tokens in the ecosystem, FET’s weekly decline of 5% was extended to 10% after the sudden pullback of the broad market. Its 24-hour return has also plunged by 6.7% to drag its price to $1.5. However, its daily trading volume has made a staggering 90% surge. Currently, FET is the fourth largest coin within the AI and Big Data category, with a market cap of $3.8 billion.
Looking at its Moving Average Convergence Divergence (MACD), there was a decline in the “red histogram” which indicates an average possibility of bullish convergence.
According to analysts, this asset could surge to $2.2 once bulls breach the $1.650 resistance level. However, failure to secure this position could take the asset all the way down to $1.
Outside the bracket of these selected altcoins, other AI tokens such as Render (RNDR), Bittensor (TAO), and The Graph (GRT) equally have a good chance of a massive bullish reversal.
