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Cryptocurrency News Articles
AI Agent Coins Market Waking Up? FET, VIRTUAL, HEART Expected to Bounce Higher
Dec 18, 2024 at 06:30 pm
The AI sector has slightly outpaced much of the rest of the altcoin market, with gains close to 110%. AI-related tokens have done well, too.
Bitcoin [BTC] hit a new high just above $108k on Tuesday, December 17th. However, the altcoin market prices have not moved in tandem with BTC in the past six days. They have only moved sideways while Bitcoin trended higher, slowly surpassing the previous resistance around $104k.
The AI sector has slightly outpaced much of the rest of the altcoin market, with gains close to 110%. AI-related tokens have done well, too.
The rise of Goatseus Maximus’ [GOAT] virality and its swift rise to the $700 million mark reinforced confidence in the meme coin and AI sectors.
While GOAT is primarily a meme coin, what AI agent tokens can you buy and hold to profit in this bull run?
Are AI agent coins waking up?
The AI agent tokens listed on CoinGecko are cryptocurrency projects that harness the power of artificial intelligence for their purposes. These may be transactions within an AI ecosystem, to provide governance rights, or be part of multi-economic systems and facilitate interaction between AI agents.
The top two AI agent tokens by market capitalization are Artificial Intelligence Alliance [FET] and Virtuals Protocol [VIRTUAL]. They stand at $4.2 billion and $2.6 billion market cap respectively. VIRTUAL is a relatively new token that began trading in 2024 and powers the AI x Metaverse protocol.
On the other hand, the Artificial Superintelligence Alliance token has been in the market for much longer. It is part of the collaboration between Fetch.AI, SingularityNET, and Ocean Protocol.
Their tokens have been merged into FET, and all FET tokens will automatically convert to ASI during Fetch.ai’s mainnet upgrade.
Besides the two largest ones, which would grab eyeballs by being large-cap tokens, Humans.ai [HEART] was also chosen as a promising AI agent token.
Comparing VIRTUAL and FET daily active addresses and network growth, AMBCrypto noted that FET had 2,000 to 3,000 active addresses consistently since mid-November. These numbers have recently begun to decline, standing at 1,500.
Meanwhile VIRTUAL reached the 1,000 mark a few days ago and was closing in on 1,500 at press time.
HEART was much smaller than the other two. It reached a peak of just above 600 in the first week of December. Since then, it has declined to 200.
The network growth trends also followed a similar trajectory. FET saw 1,250 new addresses in early December, and HEARTS was at 313. VIRTUAL reached 623 on the 16th of December. If these numbers remain consistent, even if they drop lower, it could be a positive sign for 2025.
The past two months have seen a flurry of activity as rising prices, bullish sentiment, and positive expectations captured new participants.
HEART, VIRTUAL strongly bullish, FET expected to bounce higher
The market structure on the daily chart for FET was bearish after the pullback from $2.15 in the past two weeks. The former resistance zone at $1.5 and $1.7 from September, which had been breached, was expected to serve as support.
The Artificial Superintelligence Alliance token offers a buying opportunity right now. The strong performance since August is likely to continue. The trend is upward, though the structure showed some more losses were possible.
Beyond $2.15, $2.6 and $3.12 were the next obstacles. The targets in the next 3-6 months were $4.74 and $5.74, 200% and 268% beyond current prices.
Virtuals Protocol token also had a strongly bullish outlook. This AI agent token has seen steady buying pressure since September, evidenced by the OBV.
A retest of the $2.2-$2.3 zone could see VIRTUAL trend higher toward $3.82, $4.62, and $5.43. This represented 144% gains at $5.43 from market prices.
The smaller cap HEART stood at $253 million market capitalization. Its strong performance over the past month saw the token catapulted beyond the local resistance zone at $0.025. It quickly extended toward the March highs at $0.05 before receding.
The daily RSI was at 58 and showed that the token could be ready for its next move higher. The price action underlined the $0.03 and $0.024 levels as buying opportunities in case of a retest.
To the north, $0.05 and $0.07 were the targets in the coming weeks.
Disclaimer:info@kdj.com
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