• The top four artificial intelligence (AI) coins have been bleeding over the past seven days.
• Bitcoin price dropped below $30,500 despite the US Securities and Exchange Commission’s former chairman Jay Clayton stating that the regulatory body should approve a Bitcoin ETF.
• Decentralized data storage platform The Graph Protocol’s native token GRT has formed a bullish pattern called the ‘Bull Flag Pattern.’
Artificial Intelligence (AI) Coins Struggle To Cope Against The Bears
The top four artificial intelligence (AI) coins have been struggling to cope against the bears over the past seven days, with an average drop of 10.5%. Despite this, Bitcoin’s price dropped below $30,500 despite the US Securities and Exchange Commission’s former chairman Jay Clayton stating that the regulatory body should approve a Bitcoin ETF.
The Graph Protocol’s Native Token GRT Forms Bullish Flag Pattern
Decentralized data storage platform The Graph Protocol’s native token GRT has formed a bullish pattern called the ‘Bull Flag Pattern’. This consists of a flag pole resulting from a near-vertical rise in crypto token prices followed by consolidation forming a flag. A breakout from this pattern could result in a powerful uptrend, with traders calculating its target by adding the length of the flag pole to its breakout price level – potentially reaching up to 317%.
GRT Bulls Fighting To Hold Above EMA Support
Despite dropping 6.5% on July 10 and forming daily lows near $0.10986, GRT bulls are fighting to hold above 20-day EMA support.Upper wicks on daily candles underscore bearish pressure against GRT token as well; however, if EMA support fails then AI coin prices might drop further.
Uncertainty Remains High For AI Tokens
Overall uncertainty remains high for AI tokens as investors struggle to gain some ground and maintain buying pressure amid market volatility and bearish sentiment amongst cryptocurrencies overall. As such, it is important for investors to remain vigilant when making decisions related to their investments during these times of market uncertainty .
Conclusion
With AI tokens facing strong competition from other digital currencies in terms of market capitalization and performance, it is important for investors to stay informed about current trends and developments within this space so they can make accurate investment decisions according to their risk appetite and goals.