Artificial Intelligence (AI) technology continues to expand its utility across several segments including blockchain. AI is used in blockchain to enhance security, optimize smart contracts, improve mining efficiency, automate trading, detect fraud, manage data, personalize user experiences, and ensure regulatory compliance, among other things. The market participants aiming to capitalize on these emerging technologies can consider Altcoins to buy like Render (RNDR), the Graph (GRT), and SingularityNET (AGIX).
Also Read: 4 AI-Based Altcoins Outpacing Bitcoin, Ethereum, XRP In 2024
1) Altcoins To Buy – Render (RNDR)
Render (RNDR) is a decentralized GPU rendering network built on the Ethereum blockchain that leverages idle computing power from GPUs across the globe to provide digital creators with efficient and cost-effective rendering services.
So far in May Month, the Render coin has been among the highest gainers. The altcoin recently rebounded from the support of $8.65 and surged over 65.75% to reach the $11.3 mark. This rally pushed the Render coin’s market cap to $4.38 Billion securing its position among the top 25 cryptocurrencies.
On Thursday, the RNDR price gave a decisive breakout from the $10.49 neckline of the double bottom pattern. If the reversal pattern holds, the buyers could drive a rally to beyond $20.
Also Read: Render Price Prediction: What Awaits RNDR After 50% Weekly Surge
2) Graph (GRT)
The Graph (GRT) is a decentralized protocol for indexing and querying data from blockchains, starting with Ethereum. It allows developers to build serverless applications that run entirely on the blockchain.
Amid the current market correction, the GRT price showed notable resilience above the $0.22 support. Developing a local bottom as this support has propelled altcoin 38.4% to currently trade at the $0.305 mark.
By press time, the Graph token holds a market cap of $2.86 billion, while the trading value since yesterday surged 79% to $177 Million.
This recent jump bolstered the GRT price for a bullish breakout from a downsloping trendline which carries a correction trend for the past two months.
Sustaining this breakout will signal a change in market dynamic setting the stage for a rally beyond $0.5.
Also Read: Elon Musk xAI Funding: AI Startup Targets $18B Valuation This Week Rivaling OpenAI
3) SingularityNET (AGIX)
SingularityNET (AGIX) is a decentralized platform that aims to facilitate the creation, sharing, and monetization of artificial intelligence services at scale.
For over a month, the AGIX price has been resonating within two converging trendlines indicating the formation of a triangle pattern. While initiating the development of the chart may project uncertainty, this pattern is known to give a directional rally upon the breakout of either trendline.
The SingularityNET coin currently trades at $0.967, holding a market cap of $1.24 billion. A potential breakout from the overhead pattern’s overhead trendline will signal the resumption of the prevailing rally which could surpass the $1.45 high.
Key Takeaway
The crypto market is experiencing a post Halving correction in Bitcoin, a phenomenon known as the last pullback before the anticipated as it eliminates weak hands from the market. The correction could provide an excellent opportunity to re-accumulate your favorite cryptocurrency at a discounted price.
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