Is the AI track ready to welcome mad cows?
On September 23, 2024, US Vice President Harris (Kamala Harris) issued a statement, saying: "We will encourage innovative technologies such as artificial intelligence and digital assets while protecting consumers and investors."
As soon as the statement came out, many investors began to turn their attention to tokens related to AI and blockchain technology, and the prices of several top AI cryptocurrencies currently mainstream in the market rose sharply. Among them, NEAR Protocol ($NEAR) is up more than 13%, Internet Computer ($ICP) is up 5%, Bittensor ($TAO) is soaring more than 19%, and Render (RNDR) is also up 12%.
Altcoin Sherpa, a cryptocurrency analyst with more than 220,000 fans, shared his views on the AI track on the social platform X (formerly Twitter). In addition to predicting that the track is preparing for a "bull market trend," He also named his three most optimistic tokens.
Bittensor ($TAO): Buy on dips
Bittensor ($TAO) focuses on distributed machine learning, allowing users to contribute computing resources to train artificial intelligence models and receive $TAO token rewards to expand AI computing capabilities in a decentralized manner.
At the time of writing, $TAO is trading at $529, up a whopping 6.20% over the past day.
Altcoin Sherpa shared a technical chart, noting that $TAO has broken out of the accumulation range it has been in for several months, and that the upward momentum is stable: "$TAO has never fallen below the lowest range, indicating that there is strong support below its price."
Image Source: X Altcoin Sherpa’s Market Analysis
Altcoin Sherpa believes that the bull market trend of $TAO is already obvious and may continue to rise in the next few weeks. Every low at this stage is a good bargain hunting opportunity.
Artificial Superintelligence Alliance ($FET): A potential coin on the pullback
Artificial Superintelligence Alliance ($FET) was formed by Fetch.ai, Ocean Protocol and SingularityNET through token merger, focusing on combining blockchain and artificial intelligence technology to create a decentralized AI agent network.
As of this writing, $FET is trading at $1.62, down 1.6% on a single day, but has gained nearly 30% over the past seven days.
Image Source: X Altcoin Sherpa’s Market Analysis
Altcoin Sherpa believes that although $FET has performed well recently, the current price may still correct. He pointed out that $1.50 may be a good bargaining price. If investors are more patient, they can also wait for the possibility of $1.37: "However, Personally, I would probably start a position around $1.50.”
Celestia ($TIA): A potential dark horse for layered blockchains
Altcoin Sherpa’s analysis is not limited to tokens in the AI field. He also paid attention to the modular blockchain project Celestia ($TIA). This project is a modular blockchain platform that is different from traditional blockchains. Celestia ($TIA) separates the execution layer and the consensus layer, allowing developers to create customized blockchains, reducing the burden on the consensus mechanism and data storage, and allowing different blockchains to operate in parallel, thereby achieving higher efficiency .
At the time of writing, Celestia ($TIA) is trading at $6.43, up nearly 18% in a single day.
Image Source: X Altcoin Sherpa’s Market Analysis
Altcoin Sherpa noted that Celestia ($TIA) is approaching the 100-day exponential moving average (EMA), indicating that the coin may be about to witness a significant pullback, with the first target falling around $5.11. The point will be an excellent opportunity for investors to enter the market and buy low prices.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice. The analysts’ views are for reference only. Users should consider whether any opinions, views or conclusions in this article are consistent with their specific circumstances. Invest accordingly and do so at your own risk.
