As the second week of October comes to a close, the cryptocurrency market is seeing an improvement in sentiment, driven by the price surge of AI-focused coins. Several AI-centric tokens have experienced significant gains and attracted investor attention.
In this analysis, BeInCrypto reviews three AI coins that have seen notable growth this week.
Zero One Labs (DEAI)
DEAI supports the Zero One Labs, a decentralized AI ecosystem focused on data governance. Currently trading at $0.54, it recorded a 45% price increase last week. This AI coin continues to enjoy a bullish trend, reflecting a positive Chaikin Money Flow (CMF) index, which currently stands at 0.19.
The CMF measures the strength of buyers (bulls) and sellers (bears) in the market. A positive value generally indicates that buyers are stronger than sellers, signaling a bullish market sentiment.
Additionally, the positioning of the Parabolic Stop and Reverse (SAR) indicator points reinforces the bullish outlook. At the time of reporting, these points are located below the DEAI price, indicating the asset is in an uptrend and further price appreciation is expected.
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If the uptrend continues, DEAI's price could reach $0.83, the last seen in May. However, if selling pressure surges, DEAI's price could drop to $0.25.
Turbo (TURBO)
Described as the first AI-generated meme coin, TURBO saw a 25% increase last week. The performance on the daily chart confirms that the price is trading above the uptrend line.
At the time of reporting, the Balance of Power (BoP) for this AI coin, which measures the strength of buyers and sellers in the market, shows substantial buying pressure. TURBO's BoP stands at a positive 0.21, indicating buyers are pushing the price higher.
If this trend continues, TURBO's price could break above the $0.0082 resistance and target a new four-month high of $0.0098. However, if buying pressure decreases, it could fall below the uptrend line and continue the trend towards $0.002.
AIT Protocol (AIT)
AIT is the native token of the AIT Protocol, which focuses on creating a transparent ecosystem for training, sharing, and monetizing AI models. It has risen 10% in the last 7 days, currently trading at $0.11.
The double-digit gains last week have pushed its price above the 20-day Exponential Moving Average (EMA), which measures the average closing price over the past 20 days. When an asset's price is above the 20-day EMA, it indicates the asset is experiencing bullish momentum.
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Traders are viewing this as a sign of a short-term to medium-term bullish trend. If AIT maintains this, the altcoin's price could surge 74% to trade at $0.19.
