AI tokens to watch: $TAO , $NEAR , $ICP are seeing a rise amid investment commitments from Google and Meta.

  • -Bittensor jumped 6% on Tuesday, nearing a breakout of the main trend resistance line.

  • -The Near protocol bounced from the 100-day exponential moving average, targeting the $3 level.

  • -The Internet Computer coin gained 4% on Tuesday with the early access launch of CaffeineAI, surpassing a critical resistance line.

  • AI tokens such as Bittensor (TAO), Near Protocol (NEAR), and Internet Computer (ICP) saw a rise on Tuesday as Trump pushed for energy and AI innovations. Investment commitments were made by American tech giants, including Google and Meta, as part of Donald Trump's announcement of $90 billion investments in energy and AI in Pennsylvania.

    According to Reuters, Google has made a $3 billion deal to purchase hydroelectric power from facilities in Pennsylvania alongside a $25 billion commitment for data centers over the next two years. Similarly, Mark Zuckerberg, CEO of Meta, announced plans to spend hundreds of billions to enhance multiple AI data centers.

    Moreover, the early access launch of CaffeineAI, designed as a self-writing application platform on the Internet Computer, could facilitate the creation of Web3 applications without the need for coding skills. ICP looks to achieve extended gains as it surpasses a critical resistance line, with the early access release.

Bittensor's bullish surge faces resistance from the long-term trend line.

  • Bittensor dropped about 1% at the time of writing this report on Wednesday from the trend resistance line formed over eight months by connecting the highs of December 10 and May 22. The reversal trend in TAO, after breaking the $300 level in June, shows a significant increase in buying pressure.

    A decisive daily close above the trend line at $440 could extend the bullish trend towards a 50% Fibonacci retracement level at $458, drawn from $748 on December 6 to $167 on April 7.

    The increasing convergence of the 50, 100, and 200-day exponential moving averages (EMAs) indicates a rise, with a potential golden cross on the horizon.

    The Moving Average Convergence Divergence (MACD) indicator and its signal line are crossing above the zero line, accompanied by rising green bars in the histogram, indicating an increase in bullish momentum.

  • Daily chart of TAO/USDT price

  • In the downward trend, a bearish daily close could extend the downward trend in TAO to the 200-day exponential moving average at $371.

    Near Protocol bounced from the 100-day exponential moving average, targeting $6.23.

    NEAR has dropped over 1% so far on Wednesday after three consecutive days of gains. The AI coin remains above the 100-day exponential moving average at $2.55 after breaking a resistance line related to the highs of December 6 and May 10.

    The bounce later in the day, which extends the bullish trend, could target the 200-day exponential moving average at $3.04.

    The bullish trend in the MACD lines and the signal line indicates crossing above the zero line, suggesting a trend reversal that aligns with the breakout of the trend line. Investors may consider a reversal in the MACD line below the signal line as a short-term sell signal.

  • Daily chart of NEAR/USDT price

  • If NEAR drops below the 100-day exponential moving average at $2.55, the downward trend may extend to the 50-day exponential moving average at $2.37.

    The launch of CaffeineAI boosts the breakout of ICP.

    ICP surged over 4% on Tuesday with the early access release of CaffeineAI, surpassing a critical resistance line formed by connecting the highs of December 6 and May 10.

    The altcoin could target the 200-day exponential moving average at $6.23 as it remains above the 100-day exponential moving average at $5.41.

    The MACD indicator reflects the rise in bullish momentum, as is the case with other AI tokens, with the bullish trend indicated by the green bars in the histogram.

  • Daily chart of ICP/USDT price

  • On the other hand, a reversal below the trend resistance line, which runs along the 100-day exponential moving average at $5.41, will invalidate the breakout. In this case, ICP may extend the downward trend towards the 50-day exponential moving average at $5.17.

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