Artificial intelligence (AI) has become the fastest growing industry this year following the success of ChatGPT. Last week, NVIDIA’s stock surged after the company reported strong earnings thanks to his AI. Its market cap could soon exceed $1 trillion. This rise has also increased the price of AI-related cryptocurrencies. This crypto price prediction looks at the top tokens that could benefit from it, including Render Network Token, AGIX, and The Graph (GRT).
Read more: The artificial intelligence software market is projected to reach $126 billion by 2025.
Render Token (RNDR) Price Prediction
Render Network is a blockchain project that benefits the age of AI. We provide graphic processing unit (GPU) solutions using the blockchain industry. As the cost of GPUs continues to rise, the number of developers using networks is expected to continue to grow.
The growth of AI explains why RNDR prices have skyrocketed over the past few months. Last week, the token surged to a high of $2.9373, 165% above its April low and almost 600% higher this year alone. This makes him one of the best performing cryptocurrencies in the world.
The daily chart shows that the RNDR price has been in a strong bullish trend over the past few months. It recently surpassed key resistance at $2.18, the February 7 high of this year. The token is trading just above the April high of $2.61. The 25-day moving average line and the 50-day moving average line are well above the line.
Therefore, I believe that the price of Render Tokens could rise further in the short term. I believe the price will rise to the next key resistance level of $3.50 in the near term.
AGIX Price Prediction
SingularityNET is also the top AI cryptocurrency. Developers are building a market for decentralized AI solutions. Top dApps in the ecosystem include Rejuve., Cogito, Awakening Health, HyperCycle, Singularity Studio, and more. Cogito will host his token generation event on June 2nd.
SingularityNet’s cryptocurrency, AGIX, surged over 580% this year to become one of the top coins. Its market capitalization jumped to over $378 million. The daily chart shows that AGIX price has lost momentum over the past few days. We are currently retesting the downtrend line marked in black.
SingularityNET is trading just above the 25- and 50-day exponential moving averages. Therefore, a breakout of the downtrend line could cause the token to jump to the next major resistance point at $0.50, which is about 63% higher than the current level.
Graph cryptocurrency price prediction
Graphs do not necessarily have to be AI cryptocurrencies. Instead, it is a blockchain project that helps developers index big data in the industry. Investors therefore believe that the price of The Graff cryptocurrency will do well once the industry becomes mainstream.
GRT prices have also performed well this year, rising more than 134%. Some of that momentum has lost, and prices are now about 45% below their highs this year. The token is trading just below the 25-day and 50-day moving averages.
My graph price prediction is neutral for now. On the positive side, the token is likely to continue rising as buyers target the downtrend line at $0.15, which is about 20% above current levels. Alternatively, a move below the $0.11 support would indicate more sellers in the market.