Despite Monday’s market sell-off, artificial intelligence (AI)-related cryptocurrencies have shown remarkable performance. Leading the charge are Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Arkham (ARKM), each demonstrating significant gains.
Fetch.ai (FET) has been a standout performer, recovering robustly despite a broader market decline. The token has broken out of a falling channel pattern, rallying over 22% within 48 hours and surpassing the critical 200-day EMA. This surge has propelled FET to $1.65, marking a growth of 42.49% in the past week.
The positive crossover in the MACD and signal lines suggests a potential trend reversal, delaying the anticipated death cross between the 50-day and 200-day EMAs. According to a recent analysis, if the uptrend continues, FET could challenge the 50% Fibonacci level at $1.88 and reach $3.26.
Ocean Protocol (OCEAN) has also shown resilience, forming a falling wedge pattern after a significant 64% decline over the past 90 days. The recent bull cycle has led to a 20% price increase within 48 hours, with OCEAN currently trading near $0.6826.
Fetchai and Sei Prices Drop as Analysts Predict Potential Market ReversalsDespite the bearish backdrop, the bullish crossover in the MACD indicator signals growing trend momentum. If the uptrend holds, OCEAN could break out of the falling wedge, aiming to reclaim the $1 psychological mark and reach $2 by the end of July.
SingularityNET (AGIX) is another AI token experiencing a super recovery. The AGIX price chart reveals a falling wedge pattern, with the token surging past the 23.60% and 38.20% Fibonacci levels.
AGIX is currently trading at $0.686 with a 12.30% growth in the past day and is poised to challenge the 200-day EMA. Should the recovery rally continue, AGIX may reclaim the $1 mark and reach its all-time high of $1.39 next month.
Arkham (ARKM), the native token of the AI-driven blockchain analytics platform, has surged by 13.24% over the past 24 hours, trading at around $1.99. This surge aligns with the broader trend of AI tokens defying the market correction.
The recent surge in AI tokens comes amid a broader market correction triggered by news that the defunct crypto exchange Mt. Gox plans to repay $9 billion to creditors in July. Additionally, the Artificial Superintelligence Alliance, which includes SingularityNET, Fetch.ai, and Ocean Protocol, has announced the initiation of the ASI token merger on July 1, further fueling positive sentiment.
