in short
TokenFi (TOKEN) was the best performing token of the week, up nearly 33%.
Matrix AI Network (MAN) experienced a similar surge as TOKEN, rising just over 30%.
LimeWire (LMWR) has risen 20% over the past seven days and is trading close to $0.30.
The artificial intelligence (AI) token market has grown significantly over the past three days, with sentiment shifting from bearish to bullish.
BeInCrypto has compiled a list of the best performing AI tokens, outperforming top Altcoin and Bitcoin.
TokenFi (TOKEN)
TokenFi ended its weeks-long downward trend and surged over the past four days, reaching a price of $0.070. After a volatile start to the week, TokenFi’s price ultimately rose by 33%.
After TOKEN continuously tested the descending trendline as support, which helped the Altcoin prevent further declines. The Altcoin is now close to breaking out of the local resistance at $0.077, which could further push the price up to $0.088. This resistance level has been tested quite a bit in the past and a break above it would initiate an uptrend.
TOKEN price analysis. Source: TradingView
However, if this level is not breached, it will keep the Altcoin between $0.088 and $0.077 or $0.058. This will keep any potential rally subdued for a while.
Matrix Artificial Intelligence Network (MAN)
MAN has been growing at almost the same pace as TOKEN, gaining over 30% in the past week. Matrix AI Network is currently testing resistance at $0.026, a level that has served as key support in the past.
Flipping this resistance level into support could lead to further recovery and regaining profits lost during the early July drop. To fully recoup these gains, AI Token would need to close above $0.029.
MAN price analysis. Source: TradingView
On the other hand, $0.029 has been tested as a barrier before, which may make a rebound difficult. Therefore, MAN may continue to move sideways until a stronger bullish signal emerges.
LimeWire (LMWR)
Unlike the other two coins on this list, LimeWire’s rally hasn’t been as spectacular, but it has still managed to gain 20% over the past week. However, LMWR still has a long way to go to recover from its recent drop.
The next key resistance level for the AI Token is $0.36. To achieve this, it first needs to flip the psychological resistance of $0.30 into support, which could help to rally further. This level is crucial for LMWR to recover the losses it has suffered since the downtrend in mid-April.
LMWR price analysis. Source: TradingView
However, there is always the threat of profit-taking in LMWR that could sustain the Altcoin price below $0.49. A prolonged period of consolidation could invalidate the bullish thesis.
