- NERA Protocol price has declined by 50% in the past 2 weeks.
- ICP price has dropped to the last swing low.
- Render crypto price has faced resistance from the 200-day EMA and lost 53% in 10 days.
According to the market capitalization, the top trending AI coins are NEAR, ICP, and Render. The current cryptocurrency sentiment is bearish, and these coins have also performed negatively.
Death Crossover in Key Moving Averages; NEAR Technical Analysis
At press time, the NEAR Protocol was being traded at $3.56 with an intraday gain of 1.25%. The market capitalization was $3.96 Billion, and the 24-hour trading volume was $553.14 Million at the time of writing.
The digital asset price has been falling by forming lower lows and lower highs. The price has shown weakness and has dropped to the lower-low territory. Green candlesticks in this zone would be a sign of buying momentum.
If the trading volume supports the buying momentum, it may soon reach a lower high swing. On the other hand, if the NEAR Protocol price fails to defend the $3.50 mark, profit booking on a higher scale can be seen.
ICP Price is Forming Double-bottom Pattern: Could It Extend to Double Digits?
During the bearish trend, the Internet Computer crypto was halted near the $6 level. It formed a hammer candlestick, and the price surged by 60% in 2 weeks. The price rose to the 200-day EMA but failed to exceed it.
Sellers attempted again and dragged down the price to the $6 mark. The crypto asset price has formed a double-bottom pattern on a daily time frame.
Buying momentum can be initiated if the ICP price creates a bullish scenario at the $6 mark. Exceeding the 20-day EMA might be a bullish sign, the price may easily smash the $10 hurdle if that happens.
Turning to the technical indicators, the RSI has generated a bullish divergence and has taken support on the Lower band.
Does the RENDER Price Seek Reversal from this Zone?
Render crypto was being traded at $4.66 at press time, which has surged by 12.59% in the past 24 hours. It has a market capitalization of $1.82 Billion with a 24-hour trading volume of $120.78 Million.
Based on the chart structure, the Render crypto price has undergone a correction phase. Suppose the price manages to cross the 200-day EMA, buying momentum for the long term can be anticipated.
Alternatively, if RNDR remains below the major support level of $6.50, it might be difficult for the bulls. Sellers might keep dominating further if the price starts trading below the $4 level.
Could Render Crypto Repeat History?
In 2022 and 2023, the RSI took support on the Lower band and surged by 750% and 950% respectively. At press time, the RSI has taken support on the Lower band, expecting a massive upsurge.
Last time $RENDER's RSI was this low in 2023, we pumped almost 950%, before that almost 750% in 2022.
— Erik (@_vanskelig) August 6, 2024
I'm sure it's nothing.$RENDER | $RNDR ⭕️#Altseason pic.twitter.com/LbTgfpocDc
The top trending AI coins could be NEAR Protocol, Internet Computer, and Render in terms of market capitalization.
All these coins have performed negatively for the past few months. The NEAR price has lost around 50% in the past 2 weeks. At the same time, RNDR dropped by 53% in just 10 days.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
