Flow

Artificial Intelligence

Bitcoin

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ai-tokens-surge-with-bitcoin-rise" data-wpel-link="internal" rel="noopener noreferrer nofollow">AI Tokens Surge with Bitcoin Rise</a><br></p>
<p style="text-align: justify">Artificial Intelligence (<a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">AI</a>) tokens have shown significant upward movement recently, coinciding with <a href="https://en.bitcoinhaber.net/anticipation-peaks-as-sec-decision-on-spot-bitcoin-etf-nears" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) surpassing the $71,000 mark. Data from CoinMarketCap revealed a 5% increase in the AI token <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> over the past 24 hours, coupled with a 20% rise in trading volume. Notably, Near (NEAR), Render (RNDR), and Bittensor (TAO) led the charge with gains of 8%, 5%, and 7%, respectively.</p>
<h2 id="will-ai-tokens-sustain-their-momentum">Will AI Tokens Sustain Their Momentum?</h2>
<p style="text-align: justify">Critical metrics monitoring the buying and selling activities of these tokens indicated that the recent price surge might not be driven by genuine market demand. Instead, it appears to be influenced by the overall cryptocurrency market’s ascent during the same period.</p>
<p style="text-align: justify">For instance, NEAR’s Relative Strength Index (RSI) was recorded at 52.29, while the Money Flow Index (MFI) stood at 26.96. These indicators suggest a neutral market sentiment with noticeable capital outflows from NEAR, hinting at potential loss of recent gains due to increasing selling pressure. At the time of writing, NEAR’s price was $7.56.</p>
<p style="text-align: justify">RNDR’s Chaikin Money Flow (CMF) indicator, which measures the flow of capital into and out of the market, was in negative territory at -0.05. Such a value indicates a weakening market with potential declines. RNDR’s price, meanwhile, was $10.72 after a 1.92% increase.</p>
<p style="text-align: justify">TAO’s Performance and Market Indicators</p>
<p style="text-align: justify">TAO’s price reflected a similar trend, trading close to its 20-day exponential moving average (EMA). This proximity often signals price consolidation within a specific range. Additionally, TAO’s decreasing Average True Range (ATR), which measures asset volatility, suggests market indecisiveness or a consolidation period. At the time of writing, TAO was priced at $417.</p>
<h2 id="investor-insights">Investor Insights</h2>
<p style="text-align: justify">Investors can derive the following insights:</p>
<ul>
 <li>Monitor RSI and MFI for potential overbought or oversold conditions in NEAR.</li>
 <li>Track CMF values for RNDR to anticipate market strength or weakness.</li>
 <li>Watch TAO’s 20-day EMA for signs of price consolidation.</li>
 <li>A declining ATR in TAO may indicate a period of low volatility.</li>
</ul>
<p style="text-align: justify">In conclusion, while AI tokens have experienced a notable rise alongside Bitcoin, indicators suggest that these gains may not be sustainable without genuine market demand. Investors should remain cautious and closely monitor market indicators for future movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ai-tokens-surge-with-bitcoin-rise" data-wpel-link="internal" rel="noopener noreferrer nofollow">AI Tokens Surge with Bitcoin Rise</a></h5>

AI Tokens Surge with Bitcoin Rise

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