AI Coins (AGIX, FET, OCEAN, INJ) Technical and Fundamental Analysis 16.04.2023

Will we see a rise in AI coins following Elon Musk’s establishment of an artificial intelligence company?

$AGIX


SingularityNET (AGIX) is a blockchain-backed platform that enables everyone to easily ‘create, share, and monetize’ artificial intelligence services through a globally accessible artificial intelligence marketplace.

After breaking the downtrend, it faced rejection at the $0.46 resistance level. If it breaks this region with high volume, it may attempt to test the $0.56 levels. In the event of a possible downside scenario, the first support level is the $0.40 level. If that region does not hold, the range between $0.3886 and $0.37 may be monitored.

$FET

Fetch.ai (FET) coin is the native cryptocurrency of the Fetch.ai network. There are versions of FET coin created on the Ethereum and Binance Smart Chain blockchains. FET coin enables users to utilize various artificial intelligence, DeFi, decentralized economy, and machine learning tools within the network.

$FET, one of the strongest performing coins among artificial intelligence coins, has risen by 25% after breaking the downtrend. The volume is quite good. The range between $0.4070 and $0.3975 is a strong resistance. With closing prices above this region, it may attempt to test the $0.47 – $0.48 range. If it loses its current level, the first support level is $0.3642. Then, the range between $0.34 and $0.33 is a strong support zone. Technically, the outlook is bullish.

$OCEAN

Ocean Protocol (OCEAN) is a protocol that enables businesses and individuals to buy and sell their data for AI, Big Data, and data-driven services. Ocean Protocol is a platform created to solve this problem by converting data into a financial asset. This enables data to be monetized and exchanged as a valuable commodity.

It has broken through the horizontal resistance zone of 0.40$-0.39$ and we can now consider this area as a support zone. The market structure is bullish. In the event of a possible decline scenario, buying can be considered if there is a close above the green box. In the bullish scenario, the range of 0.4363$ – 0.4450$ is the first resistance. With the acquisition of this zone, it may seek to test the 0.50$ level.

$INJ

Injective Protocol (INJ) is a leading decentralized exchange (DEX) that offers its users cross-chain margin trading, futures trading, and futures forex trading

It has been gaining a lot of attention lately. If it closes above the $7.60 level, it may want to test the $10 levels. Its structure is very bullish. It is one of the coins that has experienced the most growth recently. In a possible bearish scenario, the range of $7.20-$7 can be considered for buying

I will continue to look upwards by reducing risks at important resistance levels and taking reasonable risks at support levels until the rise goes where it is going (until BTC closes daily or weekly below 29k)


It is important to note that the analyses shared here are not investment advice but rather support and resistance levels that we think may provide short to medium-term trading opportunities in the market. The responsibility for taking trades and managing risk lies solely with the user. It is strongly recommended that stop-loss orders be used in all trades.

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