beincrypto.com
September 2024 began on a tough note for several Artificial Intelligence (AI) Coins. However, as soon as the second week started, things changed, making the week a much better one than the last.
These upswings could be linked to notable developments related to OpenAI. Here are the top 3 AI coins that outperformed the rest in the second week of September 2024.
NodeAI (GPU)
NodeAI, a decentralized platform offering access to AI resources and GPUs, uses blockchain technology to allow users to tap into AI nodes and lend their hardware devices. The project also supports staking GPU tokens for Ethereum (ETH).
This week, GPU’s price surged by 26% between September 8 and 12, coinciding with OpenAI’s push to increase its valuation. The price upswing brought the altcoin to $0.74 before dipping to $0.71 at the time of writing.
However, based on the Moving Average Convergence Divergence (MACD), the token’s price may be poised for a rebound.
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The daily chart shows that the MACD, a momentum indicator, remains in the positive region. If this momentum holds, GPU’s price could climb to $0.85. However, if profit-taking increases, this forecast might be invalidated, potentially causing the cryptocurrency’s price to drop to $0.62.
Bittensor (TAO)
TAO, the native token of the decentralized blockchain machine-learning network Bittensor, experienced a 26% price surge. On September 6, TAO’s price was at a key support level of $231.24.
According to the daily chart, the rebound from this support helped TAO break above the next support at $255.46. The token now trades at $288.97, with the Relative Strength Index (RSI) positioned above the signal line, signaling increasing bullish momentum.
If this continues, TAO’s price could rise to $312.17. However, if the bulls fail to maintain this momentum, the uptrend may stall, potentially causing the price to drop back to the underlying support level.
Aleph.im (ALEPH)
Aleph.im, a decentralized blockchain project focused on identity and file storage, recently saw its token, ALEPH, surge by 28%, making it one of the top-performing AI coins.
Currently, ALEPH trades at $0.16. The Bull Bear Power (BBP) indicator shows a strong positive reading, signaling that buyers are in control. A positive BBP suggests bullish momentum, and the current reading aligns with the development of a new ChatGPT model, indicating potential for further price increases.
Read more: How to Invest in Artificial Intelligence (AI) Cryptocurrencies?
If the trend continues, ALEPH’s price could rise to $0.23. However, a decline in buying pressure could reverse this outlook, potentially leading to a price drop to $0.13.