AI Tokens INJ, GRT, RENDER Join the Altcoin Season With Bullish Breakouts

Bullish breakouts across multiple AI-focused cryptocurrencies, including Injective (INJ), The Graph (GRT), and Render (RENDER), highlight a potential

Several AI-focused cryptocurrencies, like Injective (INJ), The Graph (GRT), and Render (RENDER), are experiencing bullish breakouts, indicating a potential shift in the altcoin market.

These tokens, known for their roles in decentralized finance (DeFi) and Web3 applications, are exhibiting synchronized price movements, attracting attention within the crypto community.

As Bitcoin's price surges to $99,800, just shy of the $100,000 mark, investor interest is shifting toward altcoins. Early performers like Solana (SOL), XRP, and Cardano (ADA) have already posted significant gains, signaling the start of an altcoin season.

AI tokens, however, are just beginning to align with this trend. INJ, GRT, and RENDER share a common characteristic - they are all AI-based altcoins.

Moreover, these tokens also share a similarity in price patterns - they tend to rise and fall in sync. This price correlation is evident in their recent price movements, suggesting that AI-based altcoins are joining the broader market rally.

From a technical analysis perspective, INJ, GRT, and RENDER have formed Bull Pennants, a structure often associated with trend reversals. After extended bearish phases earlier this year, the tokens are now moving upward following confirmed breakouts.

At the time of writing, INJ, GRT, and RENDER have broken out of the spotted pattern and headed upward, indicating a potential bull breakout among AI tokens ahead of a bullish rally.

INJ's breakout led to a 78% surge in the past three weeks. A temporary pullback during the rally confirmed the move after the altcoin bounced off support and continued upward.

GRT and RENDER also reflected a similar trend pattern by breaking out of a bull pennant, making a temporary pullback, and continuing upward.

These moves collectively comprise a typical bullish outlook for the individual tokens and a sector rejuvenation for the tokens as a collective. Being AI-based crypto tokens, analysts believe their consistency in pattern could signal an emerging trend for that sector of the crypto market.