Undeniably, there has been a broader market pullback over the past couple of days. However, several AI-focused tokens have managed to post gains despite the downturn.
In this analysis, BeInCrypto highlights three AI coins with significant price growth.
AIOZ Network (AIOZ)
AIOZ, the native token of the AIOZ Network—a decentralized platform that leverages a global network of nodes to deliver content—has noted a 45.63% price surge over the past seven days. It is one of the AI tokens of the week to pay attention to. As of this writing, it trades at $0.75.
At its current price, the altcoin trades above its 20-day exponential moving average (EMA). The 20-day EMA calculates the average price over the past 20 days, with more emphasis on recent data points.
This setup indicates a short-term bullish trend. It signals that buying pressure is prevailing and the asset is in an uptrend.
If AIOZ maintains this upward trend, its price may climb toward $0.79. A successful rally past this level may set it on the path to reclaim its year-to-date high above $1.
However, there is a catch. Its plummeting Chaikin Money Flow (CMF) indicates that the buying pressure is weakening. AIOZ’s CMF, which tracks money flows into and out of its market, is below zero at -0.02.
When an asset’s CMF is negative during a price rally, buying pressure is waning, thus forming a bearish divergence. This divergence is a warning signal that the rally may not be sustainable and could face a reversal if the selling pressure continues.
AIOZ’s price may fall to $0.61 if this happens, invalidating the bullish outlook above.
Render (RENDER)
The price of the leading AI-based token Render (RENDER) has spiked by 34% over the past seven days, making it one of the top AI tokens of the week. During the week in review, the AI-based token rallied to a five-month high of $7.20 b
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Author: Abiodun Oladokun
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