Connect with us

Market

Artificial Intelligence Coins on the Rise: DIA, DEAI, and LAMB

Published

on


As the first week of October 2024 wraps up, several Artificial Intelligence (AI) coins are making waves with standout price performances and increasing investor interest.

In this analysis, BeInCrypto highlights the top three AI coins dominating the market, examining the key drivers behind their rise and what could be on the horizon in the coming weeks.

DIA

DIA is a company specializing in cross-chain oracles for Web3. It delivers services like digital asset price feeds, adjustable NFT floor price feeds, multi-chain randomness for DeFi and GameFi applications, and the creation of bespoke oracles for decentralized apps.

DIA surged 47.79% over the past seven days, ranking it among the top-performing artificial intelligence coins during this period. Its price skyrocketed from $0.41 on September 29 to $0.92 by October 1, marking an impressive 124% gain. Following this surge, the price corrected back to $0.59.

Despite this retracement, DIA’s Exponential Moving Average (EMA) lines remain bullish. The short-term EMAs continue to stay above the long-term ones, signaling that the bullish trend is still intact, although it has weakened compared to the earlier peak.

Read more: How Will Artificial Intelligence (AI) Transform Crypto?

LAMB DIA.
DIA EMA Lines and RSI. Source: TradingView

The DIA’s Relative Strength Index (RSI) currently stands at 44.68, which suggests it is neither overbought nor oversold. RSI is a momentum indicator that ranges from 0 to 100 and is used to gauge whether an asset is overbought (above 70) or oversold (below 30) territory.

With DIA’s RSI at 44.68, it indicates that the asset is in a neutral zone, showing steady movement without extreme pressure in either direction. This level suggests there is still potential room for upward growth before hitting an overbought condition. That implies that DIA could have more upside momentum ahead.

Zero1 Labs (DEAI)

DEAI is the token from Zero1 Labs, a platform dedicated to developing decentralized artificial intelligence applications. Zero1 Labs offers Keymaker, an open platform that includes a DeAI (Decentralized Artificial Intelligence) toolset, API, and dApp Store, along with Cypher, a blockchain optimized for AI and large language models, with a focus on data governance and ownership. The platform is designed to simplify the creation and monetization of DeAI apps.

DEAI price surged 14.05% in the last week, currently sitting at $0.41. DEAI EMA lines are strongly bullish, with the short-term lines all above the long-term lines. They also show a good distance between them, which shows the uptrend is sustainable.

LAMB DEAI.
DEAI EMA Lines and RSI. Source: TradingView

DEAI currently shows support at $0.31, and its next resistance is at $0.43, which should be tested soon. Its relative Strength Index (RSI) currently stands at 61.41. That indicates that while it is nearing the overbought threshold of 70, it still has some room for potential growth.

With DEAI’s RSI approaching 70, the token shows signs of strength and upward momentum. However, it could be nearing a point where gains could slow or a correction may occur. While there is still room for growth, this momentum may not last much longer as it inches closer to the overbought zone.

Lambda (LAMB)

LAMB is the coin of Lambda, a storage network that defines itself as the “leading omnichain modular storage”, supporting DeFi and artificial intelligence applications. LAMB price followed the same trend from DIA and DEAI, surging from $0.0016 on September 27 to $0.0030 on September 30. That represents an 87,5% growth in just three days.

It then dropped to $0.0023, but its price chart still shows a growing potential for the next few days. LAMB EMA lines still look bullish, although the distance between its two short-term lines is not as big as before. This could indicate that the current uptrend is less strong.

Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?

LAMB EMA Lines and RSI
LAMB EMA Lines and RSI. Source: TradingView

LAMB’s RSI currently sits at 50.33, signaling that the asset is in a neutral position, neither overbought nor oversold. This leaves ample room for growth as it indicates that LAMB is not facing excessive buying pressure yet.

If the current uptrend continues, LAMB could soon retest the $0.0030 resistance level, presenting a potential 32% increase opportunity. With its RSI comfortably in the middle, there is space for further upward momentum before any significant resistance is encountered.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

XRP Bears Lead, But Bulls Protect Key Price Zone

Published

on


XRP has experienced a significant downturn in recent price action, with its value dropping nearly 15% over the past seven days as bears maintain control of the market. The coin’s technical indicators are showing mixed signals, with the RSI rebounding from oversold territory while Ichimoku Cloud patterns continue to paint a predominantly bearish picture.

Despite yesterday’s test of the critical $2.06 support level resulting in a temporary bounce, the momentum remains negative, with short-term EMAs positioned below long-term averages. The move from extreme oversold conditions suggests XRP might be entering a consolidation phase before its next significant price movement.

XRP RSI Is Up From Oversold Levels

XRP’s Relative Strength Index (RSI) is currently at 36.37, showing a notable rebound from a low of 27.49 just a few hours ago. This upward shift indicates a shift in momentum, as buying interest has started to pick up after a period of heavy selling pressure.

Although still in the lower range, this recovery suggests that traders may be stepping back in. That could mean they are potentially viewing the recent dip as an opportunity.

XRP RSI.
XRP RSI. Source: TradingView.

RSI is a widely used momentum indicator that measures the speed and change of price movements on a scale from 0 to 100. Readings below 30 typically indicate that an asset is oversold and may be undervalued, while readings above 70 suggest it is overbought and could be due for a correction.

XRP’s bounce from 27.49 to 36.37 signals that it may have just exited oversold conditions. This could mean that the recent selling phase is easing. If the buying momentum continues to build, XRP might be entering the early stages of a potential recovery.

XRP Ichimoku Cloud Shows A Bearish Scenario

XRP’s Ichimoku Cloud chart shows that the price action remains below both the red baseline (Kijun-sen) and the blue conversion line (Tenkan-sen). That indicates the prevailing momentum is still bearish.

The candles are also forming well beneath the cloud, which reflects a broader downtrend.

When the price is under all major Ichimoku components like this, it typically signals continued downward pressure unless a strong reversal breaks those resistance levels.

XRP Ichimoku Cloud.
XRP Ichimoku Cloud. Source: TradingView.

Additionally, the cloud ahead is red and spans horizontally with a downward slope, reinforcing the bearish outlook in the near term. The thickness of the cloud suggests moderate resistance if the price attempts to move upward.

However, some consolidation is evident in the recent candles, showing that sellers may be losing some control.

For any potential trend reversal, XRP would need to break above the Tenkan-sen and Kijun-sen, and eventually challenge the cloud itself — a move that would require a clear uptick in momentum.

XRP Could Rise After Testing An Important Support Yesterday

XRP’s EMA lines are clearly aligned in a bearish formation, with the short-term averages sitting well below the long-term ones and a noticeable gap between them—highlighting strong downward momentum.

Yesterday, XRP price tested the support level at $2.06 and rebounded, showing that buyers are still active at that zone. However, this support remains critical. If it is tested again and fails to hold, XRP could fall further. Its next major support sitting around $1.90.

XRP Price Analysis.
XRP Price Analysis. Source: TradingView.

If the trend begins to shift and XRP breaks above the short-term EMAs, the first key resistance to watch is at $2.22. A successful move above this level could trigger a stronger recovery, potentially pushing the price toward $2.47.

If bullish momentum continues, the next upside target would be $2.59. For now, though, the EMA structure still leans bearish. XRP would need sustained buying pressure to flip the trend and aim for those higher resistance levels.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Market Cap Now Approaching $300 Million

Published

on


SAFE has emerged as the best-performing altcoin of the day, with its price surging 5% in the last 24 hours and its market capitalization now close to $300 million. The coin is showing strong technical indicators despite some mixed signals from momentum oscillators that suggest consolidation may be on the horizon.

Technical analysis of the EMA lines remains bullish, with short-term averages positioned favorably above long-term ones, pointing to continued strength in the immediate term. However, recent RSI and BBTrend readings indicate a potential cooling-off period could be approaching as the asset digests its recent gains.

SAFE RSI Is Back To Neutral Levels After Reaching Overbought Levels

The SAFE RSI is currently at 54.71, maintaining a neutral position for the past three days after experiencing significant momentum earlier in the week.

This moderation in the indicator suggests that the previous buying pressure has subsided somewhat, allowing the asset to consolidate following recent price movements.

The current neutral reading indicates a balanced market where neither buyers nor sellers have a decisive advantage.

SAFE RSI.
SAFE RSI. Source: TradingView.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100. Generally, an RSI reading above 70 is considered overbought, suggesting a potential reversal or pullback, while readings below 30 indicate oversold conditions that might precede a bounce.

With SAFE’s RSI recently peaking at 87 just four days ago, the asset was in strongly overbought territory, signaling excessive buying enthusiasm. The current value of 54.71 represents a significant cooling off from those extreme levels, suggesting that SAFE’s price could be entering a period of stabilization.

This moderation may provide a healthier foundation for sustainable price action moving forward, as the previous overbought conditions have been worked through without dropping into oversold territory. This potentially indicates underlying strength in the asset despite the retreat from recent highs.

SAFE BBTrend Is Still High, But Down From Yesterday

The SAFE BBTrend is currently at 13.6, maintaining a positive position for the last two days after reaching a peak of 19.39 yesterday.

This recent positive trend suggests that the price movement has been gaining momentum, though there appears to be some moderation from yesterday’s higher reading.

The continued positive BBTrend indicates that the asset is still showing strength, despite the slight pullback from yesterday’s peak value.

SAFE BBTrend.
SAFE BBTrend. Source: TradingView.

BBTrend (Bollinger Bands Trend) is a technical indicator that measures the strength and direction of a trend by analyzing the relationship between price and Bollinger Bands.

The indicator typically ranges from negative to positive values, with readings above 0 indicating a bullish trend and readings below 0 suggesting a bearish trend. With SAFE’s BBTrend at 13.6, this suggests a moderately strong bullish trend that could indicate potential for continued upward price movement in the near term for the altcoin.

However, the decrease from yesterday’s 19.39 peak might signal some slowing in momentum, potentially leading to consolidation before the next significant move higher.

Will SAFE Uptrend Revert Soon?

SAFE EMA lines are still bullish, with short-term lines positioned above long-term ones. This positive alignment of exponential moving averages indicates continued upward momentum in the price action.

If this uptrend momentum maintains its strength, SAFE could potentially climb to test the resistance level at $0.72.

Should this resistance be successfully broken, the next target would be $0.879. The altcoin could exceed $0.90 for the first time since January 19, sustaining its momentum as one of the most trending altcoins.

SAFE Price Analysis.
SAFE Price Analysis. Source: TradingView.

On the other hand, as indicated by the RSI and BBTrend indicators, the uptrend appears to be losing some momentum. This could signal a potential reversal in the near future.

If the trend does reverse, SAFE might test the nearby support level at $0.54, which sits precariously close to the current price.

Should this support level fail to hold, further downside could see SAFE decline to test subsequent support levels at $0.48 and $0.40. In a worst-case scenario, a drop all the way to $0.35 could potentially occur.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Trump Family Gets Most WLFI Revenue, Causing Corruption Fears

Published

on



A new report claims that President Trump and his immediate family receive most of WLFI’s revenues. The Trumps are entitled to 75% of token sale revenues, about $400 million, and 60% of other incomes.

If these numbers are even partially accurate, they raise significant concerns about potential conflicts of interest. They also raise questions about the broader implications for transparency and accountability regarding Trump’s crypto policies.

Does the Trump Family Receive WLFI Proceeds?

World Liberty Financial (WLFI), a project affiliated with President Trump, has made a lot of waves in the crypto space since the end of last year. After persistent rumors of a Binance partnership, WLFI officially launched a new stablecoin, USD1. There is no clear evidence of Binance’s involvement in this launch. However, a new report from Reuters has disclosed some disturbing details.

Essentially, it claims that it has found evidence of how much of WLFI’s revenues go directly to Trump’s family. Trump will get 75% of revenues from token sales and 60% from subsequent operations. WLFI completed its major token sale, which would, therefore, entitle the Trumps to about $400 million.

Reuters calculates that 5% of proceeds from this token sale would actually fund WLFI’s platform, with the rest going to other co-founders. Further, its buyers are not able to actually resell their tokens, and it’s unclear what governance actions they could influence. There’s not an apparent reason for the average retail trader to actually buy these assets.

If these numbers are true, they could represent a serious conflict of interest and a dire threat to the US economy. First, community leaders like Vitalik Buterin warned of corruption from political meme coins like TRUMP. If Trump gets a cut of WLFI’s token sales, that’s already a huge avenue for misuse.

Additionally, since Trump is making huge changes to US financial regulators, there may not be anyone to investigate WLFI corruption allegations. For example, TRON founder Justin Sun invested $30 million into WLFI, and the SEC settled a fraud case against him months later. The SEC has been settling all its crypto enforcement actions, but this investment still looks relevant.

“You’ve got the guy in charge who is responsible for his own regulation. WLFI tokens would be the perfect vehicle for governments or oligarchs overseas to funnel money to the president,” former regulator Ross Delston claimed.

The biggest danger might not even come from political corruption or fears of centralization in crypto. Trump recently outlined a plan to use stablecoins to promote dollar dominance, and WLFI now has its own stablecoin. It also has around $111 million in unrealized losses due to its crypto investments and claims it will use “other cash equivalents” in USD1’s reserves.

It’s hard to overstate the potential risks involved. Given Trump’s financial stake in WLFI, there’s a clear incentive to promote the firm’s stablecoin as part of his “dollar dominance” agenda. If this leads to widespread investment in USD1 and the peg doesn’t hold, the consequences could ripple across the entire crypto market.

Simply put, this sort of business arrangement is totally unprecedented for a sitting US President. A few Senators are already investigating Trump’s connections with WLFI. However, their lack of political power and defanged federal regulators may hamper their ability to change anything.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io