Potential alts to follow after Trump approved the AI plan: TAO, FEI, ICP

As the market retreats, the trading prices of artificial intelligence (AI) Crypto Assets are currently on a downward trend after experiencing several days of upward movement. The slight Fluctuation in the altcoin market has hindered the recovery of Bittensor (TAO), Artificial Superintelligence Alliance (FET), and Internet Computer (ICP), delaying a breakthrough Rebound.

In addition, U.S. President Trump signed 3 executive orders this week as part of the "American Artificial Intelligence Initiative," aimed at promoting the development of artificial intelligence technology in the United States.

Trump stated at the artificial intelligence summit held in Washington: "The United States is the country that has initiated the artificial intelligence race. As the President of the United States, I am here today to announce that the United States will win this race."

With the continuous advancement of artificial intelligence technology in the United States, these artificial intelligence crypto assets show potential to lead the pump in the upcoming altcoin season.

As bullish momentum weakens, TAO revival stagnates

As of Thursday (July 24), TAO has fallen more than 1%, continuing yesterday's 6% decline. However, this AI Crypto Asset remains above the 200-day Exponential Moving Average (EMA) and the psychological barrier of 400 dollars on the daily chart.

TAO tested the 61.8% Fibonacci level of 422 USD, which fell from 748 USD on December 5 to 167 USD on April 7. If the closing price falls below this level, it may extend the decline to the 382 USD of the 50-day EMA.

Last Sunday, the 50-day EMA and the 200-day EMA formed a golden cross pattern, which sent a buy signal to outside investors as the short-term trend exceeded the long-term trend.

Nonetheless, the Moving Average Convergence Divergence (MACD) indicator shows a downward trend in the histogram bars. In TAO, a rise of the red histogram bars below the zero line will issue a reversal signal.

The Relative Strength Index (RSI) on the daily chart is 57, reversing from the overbought zone, indicating a decrease in buying pressure.

To solidify the bullish trend, the AI Crypto Assets must break through the weekly high of $461 and the resistance level of $495 tested last on May 31. A breakout rebound could extend the trend to the 78.6% Fibonacci level of $543.

(Source: Trading View)

FET is close to a bullish pattern breakout, with a target of reclaiming 1 dollar

As of the writing of this article, FET has fallen nearly 4% this week, reaching the 38.2% Fibonacci level of $0.834 from the high of $3.48 on March 25 to the low of $0.34 on April 7. Technical outlook indicates that FET is about to break through the cup and handle pattern, with the $0.834 level becoming the resistance above.

Traders should pay attention to whether the weekly closing price breaks through the resistance level of 0.834 USD, which could extend the bullish momentum to the 50% Fibonacci level of 1.09 USD.

The MACD indicator on the weekly chart shows that the bullish momentum is gradually recovering, with both the MACD and its signal line rising towards the zero axis. However, the RSI indicator remains at a neutral level of 48, slightly below the midpoint line.

On the other hand, if it falls below last week's low of 0.67 dollars, it may retest June's low of 0.54 dollars.

(Source: Trading View)

ICP loses momentum, retesting the 100-day EMA

As of Thursday's press release, the ICP price has slightly fallen by 2%, continuing the 8% decline from Wednesday. ICP lost momentum after testing the 200-day moving average at $6.20, wiping out last week's 9% gain, which was primarily attributed to the trendline breakout and the launch of CaffeineAI.

As of the writing of this article, the AI Crypto Assets token is retesting the 100-day moving average and is gradually approaching the resistance trend line for a potential breakout. Traders should exercise caution, as a fall below the psychological barrier of $5.00 could invalidate the trend line breakout and potentially extend the decline to the support area of $4.50 (marked in green on the daily chart).

As the green histogram bars decline, the MACD indicator is about to flash a reversal signal, while the RSI at 50 (neutral) indicates that buying pressure has suddenly decreased as it has reversed from the overbought boundary.

If interest in AI encryption tokens surges, ICP must surpass the 200-day EMA to strengthen the bullish trend, which may test the 50% Fibonacci level of $8.07, from the peak of $15.57 on December 7 to the low of $4.18 on April 7.

(Source: Trading View)

TRUMP1.55%
TAO2.74%
FEI-0.46%
ICP2.29%
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TheManWhoBecameRichvip
· 07-24 08:39
Empty it in
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