Big Rally for AI Tokens
$FET starts moving. $WLD $RNDR $LPT $TRAC Next?
$WLD
After a recent 46% drop, Worldcoin’s price has now recovered less than 10%.
While some may view this as a bearish signal, it could just be a delayed start as bullish sentiment among investors grows.
Worldcoin still has a long way to go
Worldcoin’s price has had bad luck over the past two months, even erasing a 66% gain since mid-July. Currently, the altcoin is trading at November 2023 lows and likely has nowhere to go but up.
Investors are also showing some signs of recovery from pessimism, which can be seen in the Mean Coin Age (MCA). MCA refers to the average time a coin is held in a wallet before being spent or transferred. It provides insight into the lifespan of coins in circulation, which can indicate market sentiment and stability.
Currently firm and bullish.
$RNDR
Although the token is down 75% from its peak, the choice is clear for investors: stay invested in Render (RNDR) in the hope of a turnaround, with huge upside potential and low short-term risk.
Displaying a bullish inverted head and shoulders pattern.
The neckline of the pattern is just below $5.2, which is important. If this resistance is clearly broken, the price could rise. Render has previously broken above this level, but the higher lows indicate buying pressure. If the coin breaks above the $5.2 resistance, it could rise further.
$LPT
Livepeer is a decentralized protocol that uses the Ethereum blockchain to democratize the video processing space. It provides a way for any participant to integrate video content into their applications with greater efficiency and cost-effectiveness than traditional solutions.
LPT is currently rebounding from a horizontal demand zone within a descending triangle pattern, with $10 being a key support area that has remained firm. This suggests that buyers are stepping in at these levels, preventing further declines for now.
The price now needs to break through the 21-day moving average (MA) acting as an immediate resistance to achieve a larger rebound. On the other hand, the 200-day moving average (MA) shows bullish strength and is a key level to watch. This long-term moving average is usually an important indicator of trend direction, and its bullish posture suggests that if the price can sustain above it, the overall trend may still have room to rise.
$TRAC
OriginTrail (TRAC) will hold a demonstration of its Railway Digital Product Passport (DPP) on August 28, 2024. The event will showcase new uses for TRAC and could spark interest from institutional investors. More utility and exposure could lead to higher prices. The demonstration is hosted by experts from GS1 and OriginTrail. Traders looking for growth opportunities in TRAC will find this event interesting.
Currently around historical weekly range low support, the RSI reading is at its lowest since 2019…
In a sensitive period with a lot of unclear information, I think this is an opportunity to choose and accumulate goods!
Looking at the major trends, I am only optimistic about AI and RWA, these two trends are enough to lead the technology wave when the market is booming.
There is an element of betting on traditional cash flows in crypto that has a lot of support behind it, and these are two niches that are easily understood and approachable by non-crypto F0s.
Especially in the niche field of RWA, I see very few products currently on the market, so when this wave arrives, the probability that most of the coins belonging to this trend will fly at the same time is quite high.
In the current RWA port, I only focus on a few major tokens $LINK $ONDO and lowcap $CPOOL.
From the chart,
- $LINK reacted very well when it hit the previous 9u accumulation zone.
- $ONDO can be bought gradually when it is in a stable price range, or it is safer to buy near the price mark of $0.5.
- $CPOOL chart has retreated by about 60% after the plunge hit the accumulation hard support area near 600d. Perhaps this will be a horizontal accumulation area of gradually decreasing magnitude, creating momentum for strong growth in the future.
If you consider safety, choose $LINK or $ONDO. If you like taking risks in exchange for high returns on investment, $CPOOL is also worth joining.
