The altcoin market has continued its upward trajectory from the previous month, with three AI tokens experiencing notable gains during the first trading week of June. These tokens—TokenFi (TOKEN), HyperGPT (HGPT), and Bad Idea (BAD)—are showing promising signs of sustained recovery as the weekend approaches.
What is driving TOKEN’s growth?
TokenFi’s native token, TOKEN, has seen its price rise by over 27% in the past seven days, trading at $0.17 at the time of writing. Analysis of TOKEN’s daily chart reveals that buying activity has consistently outpaced profit-taking. With the Relative Strength Index (RSI) trending upwards at 70.43, TOKEN may surpass the $0.17 mark and reach $0.183. However, a resurgence in profit-taking could see its price fall to $0.152.
Why is HGPT gaining traction?
HyperGPT’s token, HGPT, has been the second most profitable AI crypto in the past week, trading at $0.07774 after a 28% rise. The token’s price crossed the 20-day Exponential Moving Average (EMA) on June 3, a bullish indicator signifying a shift towards coin accumulation. The Directional Movement Index (DMI) also supports this trend. If the momentum holds, HGPT could climb to $0.082 and potentially reclaim its March 29 all-time high of $0.108.
Bad Idea’s token, BAD, also saw a 24% increase, trading at $0.00000003035. The Chaikin Money Flow (CMF) indicator was above zero at 0.13, suggesting strong buying pressure. If this trend continues, BAD could rise to $0.0000000032; otherwise, it might drop to $0.0000000029.
Actionable Insights for Investors
– Monitor the RSI for TOKEN to anticipate potential price movements.
– Pay attention to the DMI for HGPT as it indicates accumulation trends.
– Keep an eye on the CMF for BAD to assess buying versus selling pressure.
In summary, these AI tokens have shown substantial gains, and their respective technical indicators suggest potential for further growth. Investors should stay vigilant of market trends and indicators to make informed decisions.