In the ever-evolving world of cryptocurrencies, the third week of June 2024 has been particularly exciting for investors interested in artificial intelligence (AI) and big data-focused projects. Fueled by Nvidia’s (NVDA) surge to become the world’s most valuable company, surpassing even Microsoft (MSFT), several AI-based tokens have experienced impressive double-digit price rallies over the past week. Among the standout performers are HashAI (HASHAI), Turbo (TURBO), and 0x0.ai (0x0), each showcasing the potential of AI-driven blockchain technologies.
HashAI (HASHAI) Forms an Ascending Channel
HASHAI, the native token of the HashAI crypto project, which utilizes AI to optimize cryptocurrency mining, has seen its value surge by 18% in the last seven days. After plummeting to an all-time low of $0.00075 on June 14, the altcoin’s price has since rebounded, climbing by 36% to its current trading price of $0.0010.
Analyzing HASHAI’s price action on a one-day chart, the token has formed an ascending channel, a bullish signal indicating a series of higher highs and higher lows, creating an uptrend. Confirming the spike in buying pressure, HASHAI’s price is poised to cross above its 20-day Exponential Moving Average (EMA), a key indicator that measures the token’s average price over the past 20 days. This suggests that the buying momentum among market participants currently exceeds the selling pressure.
If the demand for HASHAI continues to grow, the token might rally to $0.0064 and potentially head towards the upper line of the ascending channel, which currently forms resistance.
Turbo (TURBO) Charges to New Highs
Referred to as the first-ever memecoin created by AI, Turbo’s (TURBO) price has risen by 15% in the past seven days. This rally forms an extension of the month-long uptrend in TURBO’s price, which has skyrocketed by 317% in the last month. Currently trading at $0.0054, the altcoin’s bullish bias is confirmed by its Directional Movement Index (DMI), with the positive index (blue) at 30.21 above the negative index (orange) at 19.35. This suggests that the price growth is strong, often interpreted as a signal for traders to consider entering or holding long positions.
If the demand for TURBO is maintained, the token’s price may rally to $0.0060. However, if profit-taking activity commences, this projection will be invalidated, and the token’s price may fall to $0.0053.
0x0.ai (0x0) Secures Gains for Its Holders
Housed on the Ethereum network, 0x0.ai uses AI to provide its users with a high degree of privacy for their transactions. Its native token, 0x0, has seen its value climb by 11% in the last seven days, a welcome change after an extended period of decline. On June 18, 0x0 closed at a four-month low of $0.19, but the AI token has since initiated an uptrend as market sentiment shifted from bearish to bullish.
As of this writing, 0x0 exchanges hands at $0.24. According to the altcoin’s Moving Average Convergence/Divergence (MACD) indicator, its MACD line (blue) has crossed above its signal line (orange) and is in an uptrend towards the zero line. This bullish signal is often interpreted by traders as a sign to take long positions.
If this bullish trend continues, 0x0 might be sold at $0.26 per token.
In conclusion, the third week of June 2024 has been marked by the impressive performance of AI-focused cryptocurrencies, with HashAI, Turbo, and 0x0.ai leading the charge. As the demand for AI-driven blockchain solutions continues to grow, investors may want to keep a close eye on these promising altcoins and their ongoing developments.
