YEREVAN (CoinChapter.com) – Several Artificial Intelligence (AI) related cryptocurrencies have recently surpassed broader crypto assets in terms of market performance. Here’s what’s in store for Numerai (NMR), Adventure Gold Price (AGLD), Fetch Network (FET), Cortex (CTXC), and Uma coin (UMA).
#1 NMR Crypto Rallies 75%
Numerai (NMR), a company that aims to develop stock market investment AI, saw its NMR coin jump over 75% on Dec 5. The rally cooled off hours later, and the NMR crypto price stood at $16.7 on Dec 6, nearly 20% lower than the previous day’s peak.
However, the NMR token could see more gains ahead, based on a bullish technical setup dubbed the ‘falling wedge.’
A falling wedge consists of two descending, converging trendlines, serving as support and resistance as the price declines inside its range. The pattern resolves after the price breaks above the upper trendline and rises by as much as the wedge’s maximum height.
As a rule of this technical analysis, NMR could grow to $24, or over 50% higher than the current value.
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#2 AGLD Adventure Gold Eyes 100% Rally
AGLD coin is the native ERC-20 token of the Loot NFT project. Meanwhile, Adventure Gold’s price could double before the end of the year. In detail, the AGLD token stood at $0.32 on Dec 6, after a 40% rally that defied the market sentiment, much like the NMR coin.
Moreover, the AGLD coin formed a similar falling wedge pattern on the daily chart. The Adventure Gold price action had a higher swing, ensuring the possibility of a stronger rally, pinning the target price 110% higher at $0.7.
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However, the AGLD coin has not yet confirmed the pattern and retested the wedge’s resistance on Dec 6, unable to break above it. Should the buying pressure build further, the ALGD token could get a second wind and break above the said line in the upcoming sessions, paving a path to a possible bullish continuation.
#3 Fetch Network’s FET Token Could Grow 25%
Fetch Network is another double-digit winner. In the previous 48 hours, its FET token pumped nearly 15% and stood at $0.07 ahead of the New York session on Dec 6. According to technical indicators, at least the FET price could continue the rally for another 25%.
In detail, the digital asset followed the example of the aforementioned coins and printed another falling wedge on its daily chart. Much like the AGLD coin, FET token breakout has not yet occurred. Hence the coin has yet to confirm the setup before investors can hope for triple-digit returns.
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However, if the falling wedge plays out, the FET price target would be $0.15.
Furthermore, the FET token added $6 million to its market cap within the previous 48 hours, bringing it to a total of $53 million.
#4 Cortex CTXC Eyes 130% Uptick
Cortex CTXC coin is another token in the list of AI-related digital assets that managed a significant uptrend.
CTXC price stood at $0.095 on Dec 6, after a drop that followed a 38% uptick the previous day. Despite the choppy performance compared to the other AI coins on the list, the CTXC price could jump another 130%.
In detail, the Cortex charts also sported a falling wedge, similar to the NMR coin, FET token, and others. The formation pins the target CTXC price at $0.21.
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Admittedly, the spike in trading volumes did not continue on Dec 6. Thus, Cortex investors will have to put some weight behind the token if they want to see more green candles ahead.
#5 Uma Crypto (UMA)
UMA coin is the native token of the same-named project, which calls itself the human-powered truth machine. It is an “optimistic oracle” (OO), which is “flexible enough to handle ambiguity and expands the design space possible in web3.”
UMA token joined the parade of successful AI coins and printed its own falling wedge on the daily chart. Notably, the UMA price uptrend in the previous 48-hour period was not impressive. However, the UMA/USD exchange rate stood at $1.86, with a possibility of a 188% rally after falling wedge confirmation.
Notably, while the UMA price uptick did not exceed 10%, the trading volumes went from $9 million on Dec 5 to a whopping $63 million on Dec 6.
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It is worth mentioning that while individual rallies are not uncommon on the crypto market, the overall sentiment heavily depends on Bitcoin. Thus, AI-related digital asset investors should watch the markets to make well-informed decisions.
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