Following Nvidia’s rise as the world’s most valuable company, AI-based cryptocurrencies have seen a strong bullish reversal in the last 24 hours. Top AI tokens like Render (RNDR), The Graph (GRT), and Fetch.ai (FET) each surged over 8%, indicating significant recovery potential within the AI crypto sector.
Render (RNDR) faced difficulty breaking past its $11.760 resistance and subsequently retreated to its critical support level at $7.325. The token’s stability at this support is crucial for its future direction.
Technical indicators on TradingView for RNDR/USDT show a declining MACD histogram, suggesting a potential decrease in bearish momentum. The Relative Strength Index (RSI) on the 1-day timeframe hints at a bullish convergence, suggesting possible price gains ahead.
The Graph (GRT) rebounded by 7.32% over the past day after recent corrections of 14.83% in the last seven days and 31.12% in the last 30 days. Despite a neutral year-to-date return of 0.1%, GRT shows optimism with potential for further upside.
Trading at $0.2152 with a circulating supply of 9,548,331,450 GRT tokens and a market cap of $2.043 billion, GRT ranks 44th globally in cryptocurrencies. The RSI signals a rebound from oversold conditions and indicates a bullish crossover, suggesting positive prospects for GRT’s price.
Fetch.ai (FET) surged 8% in 24 hours amid rising bullish sentiment, despite previously breaking below a critical support level. With a strong year-to-date return of +75.86%, FET demonstrates robust long-term potential.
The MACD for FET/USDT on the 1-day timeframe indicates mixed sentiment with a declining trend. A breakout above $1.285 could see FET testing higher resistance levels, while downside movement might target crucial support at $1.
In summary, AI tokens RNDR, GRT, and FET show potential for bullish rallies driven by market optimism and recent positive developments in the AI sector.
