In the middle of a tumultuous market, the AI segment shares the same increased volatility as every other crypto. However, the recovery last week puts the AI tokens in the green zone as the market cap peaked at $32.74B and slid down to $29.49B in the recent crash.
However, two AI tokens are ready for a bullish comeback in different settings. So, let’s look closer at these AI tokens to buy, ahead of the anticipated bull run.
Render (RNDR)
With a falling channel in the 1-day chart, the Render price action reveals a bearish influence over the long-term price trend. However, the recent bull cycle, starting from the $4.27 support level with a double-bottom reversal, managed to surpass the overhead trendline.
The bull cycle creates five consecutive green candles for a 43% surge to surpass the $6 mark. However, the bull run peaked at $6.30 before the broader market crash increased the supply of Render Tokens.
The AI tokens dropped by 9.60% in the last two days, resulting in a tweezer top and a bearish engulfing candle. However, the current market price of $5.83 creates a bullish candle with a 2.23% jump, projecting the pullback as a retest of the channel breakout.
Furthermore, the daily RSI line sustains a positive trend. As the bullish continuation regains momentum and surpasses the $6.30 pinnacle, the uptrend can find resistance at $6.88, $9.30, and $11.65. Hence, the upside potential for the AI token is massive despite the recent crash in the broader market.
Bittensor (TAO)
The TAO token constantly struggles to surpass the high supply zone at $358. As the recent bull cycle starts from the bottom support level of $217, the uptrend fails to surpass the high supply zone.
Coinciding with the 61.80% Fibonacci level, the neckline constricts the uptrend continuation in this AI token. The previous bull run accounted for a price jump of 60% in a matter of 3 weeks.
However, in the past two days, the AI token has decreased by 10.50%. Currently, the TAO token price is testing the support level at the 38.20% Fibonacci level near the $300 cycle mark.
Furthermore, this comes as the retest of the rounding bottom breakout with a neckline at this $300 mark. The reversal chances are slightly increasing as the intraday candle shows a potential bullish doji.
Supporting the bullish side, the daily RSI line forms an uptick as it avoids a drop to the 50% line. Considering the post-retest reversal finds enough momentum to surpass the 61.80% Fibonacci level. The uptrend will find resistances at $400, $447, and a $525 mark. On the flip side, the bottom support levels are at $300, $268, and $213.
