The Artificial Intelligence (AI) associated crypto assets have had a rather good week, with the broader market cues being bullish.
As Bitcoin breached $66,000, it inflicted optimism among all altcoins, visible in the rise of these three AI tokens.
Palm AI (PALM)
Palm AI is one of the few altcoins to note consistent growth, with the entire week registering nothing but green candlesticks. This pushed the Artificial Intelligence token up by 106%, bringing the altcoin to trade at $0.54.
In doing so, PALM also managed to flip the $0.42 resistance level into a support level. At the moment, the altcoin is testing the resistance at $0.56, and flipping it into support would enable a rise toward $0.70.
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However, if the support at $0.42 is destroyed, the bullish thesis will be invalidated. As a result, PALM could also lose a chunk of its recent gains.
Lumerin (LMR)
Another big shot over the week was Lumerin, which, despite the issues, managed to register a 104% rise. Even though the Artificial Intelligence token has rallied considerably, the altcoin has nearly reached $0.030.
As the market cools down, LMR could potentially lose the support of $0.198. This would cause the altcoin to fall due to a lack of optimism and trade at $0.0096.
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But if $0.019 support is lost, LMR could crash to $0.00096 and consolidate in this range. This could result in investors losing all the unrealized profits accumulated or gained over the past week.
Hash AI (HASHAI)
Following the lead of the above-mentioned Artificial Intelligence tokens was Hash AI. The crypto asset posted a 93% rise over the week, rising from $0.000240 to $0.000800 at the time of writing. If the rise was to continue, HASHAI could definitely have breached $0.001000.
However, even then, the crypto asset would be largely consolidated at $0.001120 and $0.000225. Escaping this would require stronger bullish cues sustained over a long period of time.
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Should HASHAI manage to do so and flip $0.001120 into support, the altcoin would have broken out of consolidation. This could send it to $0.001650, a crossing that would invalidate the bullish-neutral thesis.
The post Top 3 Artificial Intelligence (AI) Coins of the Third Week of July 2024 appeared first on BeInCrypto.
