Artificial intelligence (AI) is making a significant impact on various industries worldwide, revolutionizing human life and driving innovation in the Blockchain sector. This cutting-edge technology is being utilized to enhance security measures, streamline transactions, and improve decentralized governance methods, making AI-focused altcoins a popular choice for investors. Recently, there has been a surge in social interest surrounding AI tokens such as Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), hinting at potential price hikes amidst Bitcoin’s decline, creating a promising outlook for altcoin enthusiasts.
Fetch.ai (FET) is a groundbreaking Blockchain project that leverages artificial intelligence to establish a decentralized digital economy. Powered by autonomous agents that execute tasks on behalf of users, FET has shown promise for an upward trajectory despite a significant correction from $3.48 to $1.65 at the end of March. Currently trading at $1.8 with a market cap of $1.529 billion and supported by the 200-day EMA slope, FET could potentially soar to $2.7 and then $4.8 by surpassing the current resistance trend line.
SingularityNET (AGIX) aims to democratize access to AI by creating a decentralized marketplace for AI services. Operating on the AGIX token, developers can create, share, and monetize AI algorithms globally. AGIX has been trading within a symmetrical triangle formation at $0.758, with a market cap of $974.5 million. Breaking this pattern could ignite buying momentum, propelling the price to $1.46 and possibly $2.5.
Ocean Protocol (OCEAN) boasts a market cap of $434.8 million, experiencing a notable correction from $1.67 to $0.765. However, the price seems to have found support at the 61.8% Fibonacci retracement level, indicating a resurgence in demand. If this support holds, surpassing the current resistance could lead to price targets of $1.10 to $1.67, signaling a potential shift in market dynamics.
While the broader cryptocurrency market has seen a slowdown in recovery momentum in recent months, with major altcoins undergoing corrections, the uncertainty surrounding Bitcoin’s price above $70,000 presents challenges. Nevertheless, the rising utility of AI tokens and an overall upward trend offer a lucrative opportunity for investors seeking to capitalize on the current market downturn.
In addition, Santiment has observed a gradual increase in social volume for the aforementioned projects, with spikes in community interest often preceding price increases. Investors are advised to conduct their own research and exercise caution due to the high volatility and risks associated with cryptocurrencies.
