Date: Sat, October 5, 2024!

In a promising turn of events for the crypto market, investors are finally witnessing an “Uptober” after a rocky start to the month caused by geopolitical tensions that pushed Bitcoin (BTC) to the $60,000 level. However, in the past 48 hours, BTC has shown strong resilience, now trading at $62,000, sparking rallies across the altcoin market — especially for AI-focused tokens such as Bittensor (TAO), Near Protocol (NEAR), and Artificial Superintelligence Alliance (FET). Here’s a closer look at how these top AI tokens are faring and what could happen next.

1. Bittensor (TAO)

Bittensor (TAO) has been a leader in the AI ​​token space, posting an incredible 132% gain in the past 30 days. This growth has attracted the attention of major players, with Grayscale even adding $TAO to its list of top 20 tokens for high potential in Q4.

Despite a sharp sell-off on October 1 that saw TAO fall from a high of $614, the token has since recovered, finding support around $474. Now trading at $586, TAO looks poised for further gains, with a key resistance level at $638. Should it break this level, a continued rally could be on the horizon for TAO.

2. Artificial Superintelligence Alliance (ASIS)

Artificial Superintelligence Alliance (FET), now the fourth-largest AI token by market cap, has surged over 30% in the past month. Much like TAO, $FET saw a sell-off after reaching a high of $1.71 but found solid support at $1.34. The token has since recovered to $1.45, showing potential for further growth.

FET’s next key resistance is again at $1.71, which means a possible 17% upside from its current price if the bullish momentum continues.

3. Near Protocol (NEAR)

Near Protocol (NEAR) has also joined the rally, posting 25% gains over the past week. Currently trading at $4.79 with a market cap of $5.81 billion, $NEAR is attracting a lot of attention.

The recent market correction took NEAR to $4.49, where it tested a critical breakout level. It is currently hovering around $4.71. If NEAR can hold above this support level, we could see the token move towards its next resistance at $5.02.

What to expect next?

Bitcoin’s recovery from the $60K level has reignited optimism across the market. After a pullback from $66K on Oct. 1, BTC is now finding strong support at $62K. If Bitcoin holds this level, a market-wide recovery could follow, fueling further upside for altcoins and AI tokens like TAO, FET, and NEAR.

Conclusion:

In summary, AI tokens like TAO, FET, and NEAR are showing strong signs of recovery, supported by Bitcoin’s recovery and renewed market optimism. With key support levels holding and potential for further gains, these tokens could continue their upward momentum in the coming weeks. However, as always, investors should remain cautious and do their own research before making any moves.