Amid increased price volatility in the cryptocurrency market, the Artificial Intelligence (AI) category has regained momentum over the past day. This has resulted in major tokens from this category recording a massive price surge within a short period.
With this investors are curious with questions like “Is this the right time to invest in crypto?” and “Will AI tokens regain momentum?”. In this article, we have uncovered the top 3 AI tokens that have the potential to outperform the top tokens this year.
Bittensor (TAO)
The TAO price has surged 14.76% in the past day with a trading volume of $209.82 million. Moreover, it has surged 129.15% during the past month and ~116% this year. With a market cap of $4.27 billion, it has secured the 23rd position in the global crypto list.
The Moving Average Convergence Divergence (MACD) displays an increase in the green histogram. Moreover, its averages show a bullish convergence. This suggests a positive outlook for the Bittensor coin price in the coming week.
If the bullish sentiment intensifies, the TAO price could prepare to test its resistance level of $671 this month. On the flip side, a bearish reversal could pull the Bittensor price toward its support level of $547 during the upcoming time.
Render (RENDER)
Despite recording a drop of 15.64% over the past week, the RENDER token has jumped 6.38% over the past day with a trading volume of $315.27 million. Moreover, it has added 15.76% to its valuation during the past month and has a YTD return of 19.35%.
The Relative Strength Index (RSI) continues hovering close to its neutral point in the 1D time frame. Further, its average trendline continues hovering above the halfway mark. This indicates that the Render price may continue gaining value.
Suppose, the crypto market regains momentum, in that case, the RENDER coin price will prepare to retest its resistance level of $7.18 this month. On the contrary, if the bulls lose momentum, the AI token could plunge toward its crucial support level of $3.65.
Concerned about your Render holdings? Read our Render Price Prediction for potential price targets!
Phoenix (PHB)
Amid increased uncertainty, the PHB price has added ~10% to its portfolio in the past day with a trading volume of $15.33 million. Moreover, it has soared 57.86% during the past month and 68.81% this year. With a market capitalization of $95.53 million, it has secured the 369th position.
The EMA 50/200-day records increased bullishness and display a high possibility of a Golden Cross in the 1D time frame. Moreover, the MACD indicator shows a constant green histogram with its averages experiencing a constant uptrend in the Phoenix price chart.
Maintaining the price above its support level of $1.67 could result in it heading toward its resistance level of $2.18 in the coming time. On the contrary, if the bears overpowered the bulls, the PHB price could retest its low of $1.140.
