The top AI-related altcoins to buy—Render (RNDR), Graph (GRT), and SingularityNET (AGIX)—are positioned to break free from bearish trends and potentially embark on a sustained rally.
As per the data from Coinmarketcap, the Top AI & Big Data token shows a market cap of $39.5 Billion, projecting a 5.45% intraday gain.
The formation of a double bottom pattern sets a renewed recovery trend for the Render token.
The Graph token escape from a 2-month correction signal sets a rally past $0.5.
Artificial Intelligence (AI) technology continues to expand its utility across several segments including blockchain. AI is used in blockchain to enhance security, optimize smart contracts, improve mining efficiency, automate trading, detect fraud, manage data, personalize user experiences, and ensure regulatory compliance, among other things. The market participants aiming to capitalize on these emerging technologies can consider Altcoins to buy like Render (RNDR), the Graph (GRT), and SingularityNET (AGIX).
(1) Render (RNDR) is a decentralized GPU rendering network built on the Ethereum blockchain that leverages idle computing power from GPUs across the globe to provide digital creators with efficient and cost-effective rendering services.
So far in the Month of May, the Render coin has been among the highest gainers. The altcoin recently rebounded from the support of $8.65 and surged over 65.75% to reach the $11.3 mark. This rally pushed the Render coin’s market cap to $4.38 Billion securing its position among the top 25 cryptocurrencies.
On Thursday, the RNDR price gave a decisive breakout from the $10.49 neckline of the double bottom pattern. If the reversal pattern holds, the buyers could drive a rally to beyond $20.
(2) The Graph (GRT) is a decentralized protocol for indexing and querying data from blockchains, starting with Ethereum. It allows developers to build serverless applications that run entirely on the blockchain.
Amid the current market correction, the GRT price showed notable resilience above the $0.22 support. Developing a local bottom as this support has propelled altcoin 38.4% to currently trade at the $0.305 mark.
By press time, the Graph token holds a market cap of $2.86 billion, while the trading value since yesterday surged 79% to $177 Million.
This recent jump bolstered the GRT price for a bullish breakout from a downsloping trendline which carries a correction trend for the past two months.
Sustaining this breakout will signal a change in market dynamic setting the stage for a rally beyond $0.5.
3) SingularityNET (AGIX) is a decentralized platform that aims to facilitate the creation, sharing, and monetization of artificial intelligence services at scale.
For over a month, the AGIX price has been resonating within two converging trendlines indicating the formation of a triangle pattern. While initiating the development of the chart may project uncertainty, this pattern is known to give a directional rally upon the breakout of either trendline.
The SingularityNET coin currently trades at $0.967, holding a market cap of $1.24 billion. A potential breakout from the overhead pattern’s overhead trendline will signal the resumption of the prevailing rally which could surpass the $1.45 high.
Do your own research as usual and develop your own investment strategy.
Culled from CoinGape.