Crypto community curious on AI tokens freefall.
FET, AGIX, and RNDR slump after weeks of trending sideways.
All three coins have lost about 30% value in the past week.
AI-based tokens are experiencing a downtrend, raising concerns in the crypto community. Several top AI tokens, including FET, AGIX, and RNDR, have broken key support levels after weeks of sideways movement.
FET consolidated after hitting an all-time high of $3.485 on March 28. Initially appearing as a minor pullback, the trend has developed into a classic price reversal, with FET’s price falling over 58% in the past three months.
TradingView data shows FET entered a horizontal trend in mid-April, oscillating around $2.168. However, last week’s price action saw FET drop sharply, falling 32% since last Thursday to trade at $1.540 at the time of writing.
SingularityNET’s AGIX token has followed a similar pattern. After reaching an all-time high in March, AGIX entered a sideways trend before breaking below support in a sharp decline.
AGIX currently trades at $0.658, marking a 30% drop in the past week, according to TradingView data.
While AGIX broke through several support levels, daily chart data shows it is currently holding at a significant support level established on April 13.Like FET and AGIX, RNDR has shown significant bearish momentum in the past week, breaking below support and out of a horizontal channel. A 26.5% drop in the past week has altered RNDR’s recent trend pattern. However, the distributed GPU rendering protocol would need to break below support around $6.5 to confirm the downtrend. As of this writing, RNDR trades at $8.34, per TradingView data.
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