Wednesday and Friday play an important role in the development of this week.
1) NVIDIA's financial report may be effective in artificial intelligence, gaming and storage projects, especially RENDER should pay attention!
2) With the September rate cut being discussed and the month end approaching, the US PCE data is crucial.
▪️If the PCE data is lower than expected (e.g. below 2.6% per year), it could indicate that inflation is beginning to be contained. In this case, expectations that the Fed will pursue an easier monetary policy could become stronger. This scenario would mean that interest rates would not rise, creating a positive environment for risk assets, especially cryptocurrencies.
▪️Otherwise, if the PCE data is higher than expected, it could indicate that inflation remains high and the Fed may continue to raise interest rates. This could create selling pressure on cryptocurrencies and increase market volatility.
▪️However, strategically, the Fed can lower interest rates even if inflation is higher than expected. While this may stimulate economic growth in the short term, it may lead to higher inflationary pressures. In this case, while the market may react positively at first, the risk of high inflation in the medium term may form pressure again, and the cryptocurrency market may become unbalanced.
Artificial intelligence crypto tokens are also on fire as the industry gears up for Nvidia’s second-quarter report, which analysts called “the most significant tech gain in years.”
AI tokens like $FET, $TAO, and $RENDER are up 𝟖𝟎 % – 𝟏𝟐𝟎 % since bottoming in August
Meanwhile, many other L1s have only risen by 20%-30%.
One reason for AI's outperformance is that NVIDIA's quarterly earnings are due this week.
If the increase exceeds expectations, AI Coin may rise even more.
But the most important thing here is to add these coins to your watchlist.
The 4 largest AI projects
The past 7 days have been very profitable
‣ $FET / $ASI +61％
‣ $RENDER / $RNDR +41％
‣ $NEAR + 25％
‣ $PEOPLE + 22％
There are still some key levels yet to be reached and broken on the journey towards ATH
Let’s take a look 👇
1、$RENDER — rendernetwork
The price broke out sharply from the triangle after continuously testing the support around $4.3.
With 5 consecutive days at highs, $RENDER needs to break out and retest the $7.2 level and turn into strong support.
2、$TAO — opentensor
$360 had been a strong support level for $TAO until June when the price fell below that level.
The price has since tested this area several times but has not been able to break out.
Another break above this resistance would signal a new era for $TAO as the altcoin and crypto markets move in new directions
3、$FET/$ASI (ASI_Alliance)
The cooperation among the three giants is expected to significantly increase price levels, but the continued downturn is worrying.
Last week saw a key uptick in prices, breaking through the 90 cents and $1.1 resistance levels
The next key reversal point is $1.8, with short-term resistance around $1.5
4、$NEAR — NEARProtocol
A successful test of falling wedge support is crucial to sustaining $NEAR’s underlying bullish structure
The price approaches this resistance level, which will provide huge support, coupled with the psychological support of $5.
The wedge price target is around $7.5, with short-term resistance at $6.5
➢Which AI projects do you foresee challenging these four projects and replacing them?
