The cryptocurrency market witnessed the wind of artificial intelligence coins due to the influence of NVIDIA. On-chain analytics platform Santiment shared a list in terms of development activity. NEAR Protocol attracts attention with its leadership in the list. Meanwhile, Victor Olanrewaju conducts a technical analysis for the top 5 AI coins on the list.
Santiment: These 10 AI coins are ahead in development activity!
Over the last 30 days, tokens with Artificial Intelligence and Big Data foundations have entered the radar of traders. cryptokoin.comAs you can follow from , many artificial intelligence coins surprised market players with their performance. However, many market participants do not follow developments in each ecosystem. On-chain analytics platform Santiment shared the best AI-themed projects with high development activity. Among these, NEAR Protocol (NEAR) and Oasis Protocol (ROSE) attract attention. These are followed by Golem (GLM), Oraichain (ORAI) and Ocean Protocol (OCEAN).
The rest of Santiment’s list includes iExec RLC (RLC), The Graph (GRT), Bittensor (TAO), Streamr (DATA) and Flux (FLUX). For those who don’t know, development activity tracks the public GitHub activity a project has. When the metric decreases, it means that developers are not pushing as many features on the network. However, the increase in development activity of these projects means that developers are focusing more brainpower on these projects because they believe they will be successful. Typically this is a bullish signal. However, it is also important how their prices perform.
NEAR Protocol (NEAR)
NEAR recently reached a high of $9 on March 14. However, the 4-hour chart showed that traders started taking profits at this level. As a result, the bulls were unable to defend the support at $7.77. At the time of writing, NEAR’s price was $7.57, indicating that selling pressure was easing. However, bulls need to pay attention to the immediate support at $7.05. If NEAR closes below this area, the price could drop to $6.65. On the other hand, a break above this point could send the AI coin back towards $9.
Oasis Protocol (ROSE)
Tom DeMark (TD) Sequential on the ROSE 4-hour chart showed a buy signal. This technical analysis indicator pinpoints the timing of trend exhaustion and potential price reversals. Between March 12 and 15, there were approximately nine red candlesticks, indicating the dominance of sellers. However, press time data revealed that the bulls took advantage of the fatigue and formed support at $0.154. As such, ROSE looks ready to surpass the overhead resistance at $0.167. If the bullish momentum continues, the Fibonacci extension revealed that the price of ROSE could rise exponentially. In a fairly strong bullish scenario, it is possible for ROSE to move closer to $0.32.
Golem (GLM)
From a technical perspective, the 4-hour Bollinger Bands (BB) on GLM/USD showed that the token was oversold. This was because the lower band of BB banded GLM at $0.54. Being oversold means the price of the AI coin could jump north as BB supports it. As of this writing, BB has indicated high volatility. It also showed that the token has the opportunity to extend towards $0.67 in the short term.
Oraichain (ORAI)
ORAI’s price increased by 143.57% in the last 30 days. However, this upward momentum stalled with profit taking. At press time, the token was changing hands at $17.40. The bulls seem ready to push the token above the EMAs. If this is successful, the bullish thesis could be confirmed and ORAI could rise 18.33% to $20.56.
Ocean Protocol (OCEAN)
The bears pulled the price of OCEAN back to $1.11. The 4-hour analysis, dominated by red candlesticks, also shows evidence of intense selling pressure. However, OCEAN is on the verge of an upward turn, according to indicators from the Money Flow Index (MFI). As of press time, the MFI value was 23.56. This meant that the token experienced a large capital outflow. If MFI falls to 20.00, OCEAN could be labeled as oversold. In the meantime, if buying pressure comes, it is possible for the token to retest $ 1.40.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!