AI Tokens Retain Bullish Momentum, While This Popular Layer-1 Token Offers Strong Contention

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Written By Pinang Driod

No sooner than Bitcoin bulls switched to ‘relax mode’, the AI tokens are gaining back their dominance within the crypto space. Fetch.ai (FET), Render (RNDR), and Singularity (AGIX) are surging with significant margins. While a popular layer-1 token, Near Protocol (NEAR), has reclaimed the levels it traded in July 2022, it is preparing to trigger another 75% upswing to hit a double-digit figure in the coming days. 

Fetch.Ai (FET) Price Aims for a 100% Jump

The Fetch.ai price has been swinging high ever since the token rebounded in the previous month. With the BTC price gaining momentum, FET and other major AI tokens were under shadowed. However, these tokens appear to have regained their dominance, which may revive the bullish trend. 

With the bullish start for the week, the FET price pierced beyond the upper resistance of the rising wedge, which is largely considered a bearish formation. Therefore, a minor retracement may occur while the newly formed support may hold the rally. Besides, the RSI appears to have peaked which substantiates the bearish claim but as long as it sustains above the ascending support, the bullish momentum may prevail. 

Also Read: These Two Popular DeFi Tokens Surged by More Than 200% After Trendline Breakout: Is the Party Over?

Render (RNDR) in Price Discovery Mode

By completing a parabolic recovery, the RNDR price smashed a new ATH in the early trading hours. The heavily elevated technicals are signaling a potential pullback but the bulls seem to have inculcated massive strength, due to which bears could face acute hindrance. The price marked a new ATH at $10.27 with a slight drop in volume, which suggests the bears have now backed out and may enter at the right time.

The weekly RSI has pierced the upper threshold, which may be a matter of concern. Additionally, the Gaussian channel is within bullish limits, but the narrowed levels indicate a drop in volatility. Hence, a retracement to the lower support could be imminent and a rebound will depend on the bullish strength. 

Near Protocol (NEAR) May Continue to Fly

The Near protocol price triggered a massive upswing after undergoing a minor rebound in the first few days of February. Regardless of the steep rise, the bulls do not appear to have been exhausted as the levels of buying pressure remain elevated. After achieving the July 2022 levels, bulls now appear to be pretty confident in the upswing trend. 

Being distinct from the other tokens, the NEAR price is yet to accomplish the parabolic recovery that may end by achieving a double-digit figure. The volume has also achieved one of the highest levels, with the MACD surging within the positive range for the first time since the 2022 bear market. Therefore, a move towards $10 appears to be imminent, as the buying pressure has piled up to a large extent.

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