This has been an interesting week for artificial intelligence and big data cryptocurrency projects and tokens. Some assets have seen double-digit price gains over the past week, as Nvidia (NVDA) surpassed Microsoft (MSFT) to become the world's most valuable company.
The AI-based tokens that rose the most during the period are HASHAI, TURBO, and 0x0.ai (0x0).
Formation of ascending channel of HASHAI
Hashai is the native token of HashAI, a cryptocurrency project that uses artificial intelligence to optimize cryptocurrency mining. Trading at $0.0010 at press time, the value of this altcoin has surged 18% in the past seven days.
This price increase follows a plunge to an all-time low of $0.00075 on June 14. However, as demand for the altcoin grew, its price subsequently rose 36%.
Looking at the 1-day chart, Hashai's price is forming an upward channel. This channel is a bullish signal because it forms when the price of an asset creates an upward trend by making successive highs and lows.
Hashai price, which has seen a surge in buying over the past few days, is expected to surpass the 20-day exponential moving average (EMA). This key moving average measures the average price of a token over the past 20 days.
The price rise towards the 20-day EMA indicates that buying pressure for HashAI is outweighing selling among market participants.
If demand for AI Coin continues to grow, it could rise from $0.0064 and head towards the upper line of the rising channel , which currently forms resistance .
TURBO CHARGE TO NEW HIGHNESS
The price of TURBO, said to be the first Memcoin created by artificial intelligence, has risen 15% over the past seven days.
Last week's rally was an extension of a month-long surge in turbo prices. At press time, the altcoin is trading at $0.0054. Over the past month, the price has surged 317%.
Confirming the bullish bias towards the token, the Directional Movement Index (DMI) reading shows that the positive index (blue) is 30.21, which is higher than the negative index (orange) at 19.35.
An asset's DMI measures market trends and gauges strength. If a positive index is higher than a negative index, it means that price growth is strong. Traders often interpret this as a signal to consider entering or holding a long position.
If demand for turbos holds, the price could rise to $0.0060.
However, once profit-taking activity begins, this prediction may become invalid and the token price may fall as low as $0.0053.
0x0.ai (0x0), holder’s profit guaranteed
Located on the Ethereum network, 0x0.ai uses AI to provide users with a high level of transaction privacy. The value of the native token, 0x0, has increased by 11% over the past seven days.
This rise comes after a prolonged decline in the value of altcoins. On June 18, 0x0 closed at $0.19, its lowest in four months.
However, as market sentiment shifted from bearish to bullish, AI tokens began showing an upward trend. As of this writing, 0x0 is trading at $0.24.
According to the altcoin's moving average convergence/divergence (MACD) indicator, the MACD line (blue) crosses above the signal line (orange) and is trending upward toward the 0 line.
The asset's MACD indicator tracks price trends and momentum. When set up this way, the short-term moving average will accelerate faster than the long-term moving average. This is a bullish signal that traders interpret as a signal to take a long position.
If this bullish trend continues , 0x0 could sell for $0.26 per token .
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