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Undeniably, there has been a broader market pullback over the past couple of days. However, several AI-focused tokens have managed to post gains despite the downturn.
In this analysis, BeInCrypto highlights three AI coins with significant price growth.
$AIOZ Network ($AIOZ)
$AIOZ, the native token of the $AIOZ Network—a decentralized platform that leverages a global network of nodes to deliver content—has noted a 45.63% price surge over the past seven days. It is one of the AI tokens of the week to pay attention to. As of this writing, it trades at $0.75.
At its current price, the altcoin trades above its 20-day exponential moving average (EMA). The 20-day EMA calculates the average price over the past 20 days, with more emphasis on recent data points.
This setup indicates a short-term bullish trend. It signals that buying pressure is prevailing and the asset is in an uptrend.
If $AIOZ maintains this upward trend, its price may climb toward $0.79. A successful rally past this level may set it on the path to reclaim its year-to-date high above $1.
However, there is a catch. Its plummeting Chaikin Money Flow (CMF) indicates that the buying pressure is weakening. $AIOZ’s CMF, which tracks money flows into and out of its market, is below zero at -0.02.
When an asset’s CMF is negative during a price rally, buying pressure is waning, thus forming a bearish divergence. This divergence is a warning signal that the rally may not be sustainable and could face a reversal if the selling pressure continues.
$AIOZ’s price may fall to $0.61 if this happens, invalidating the bullish outlook above.
Render ($RENDER)
The price of the leading AI-based token Render ($RENDER) has spiked by 34% over the past seven days, making it one of the top AI tokens of the week. During the week in review, the AI-based token rallied to a five-month high of $7.20 before witnessing a pullback over the past 24 hours due to the general market downturn. Nonetheless, it trades at $6.69 and still enjoys a bullish bias.
$RENDER’s Parabolic Stop and Reverse (SAR) indicator confirms this bullish outlook. As of this writing, the indicator’s dots, which identify an asset’s trend direction and potential reversal points, rest below $RENDER’s price.
When the Parabolic SAR dots are positioned under an asset’s price, it suggests that the asset is enjoying upward pressure and the trend is bullish. Traders interpret this as a signal to go long and exit short positions.
If this trend persists, $RENDER’s price will likely test resistance at $7.39. A successful breakout could propel the token towards $8.62.
However, if profit-taking activity resurges, this bullish outlook may be invalidated. The token’s price may fall to $5.87.
Near Protocol ($NEAR)
$NEAR is another AI token that has performed impressively over the past week. It exchanges hands at $5.52 and has logged a 31% rally in the week under review.
Its Elder-Ray Index confirms that the bulls remain in market control and are attempting to push $NEAR’s price higher. At press time, the indicator’s value stands at 1.07.
The Elder-Ray Index measures the strength of buyers (bulls) and sellers (bears) in the market. When its value is positive, it generally means that buyers are stronger than sellers, indicating a bullish market sentiment.
If buying pressure strengthens, $NEAR’s price will break above resistance at $6.04 and attempt to trade at $6.74, a high last reached in June.
However, shifting market sentiment from positive to negative will invalidate this bullish thesis. If selling activity gains momentum, $NEAR’s price may drop below $5 to trade at $4.47.