Market
Artificial Intelligence Coins on the Rise: DIA, DEAI, and LAMB
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?
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.
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’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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Price Ready to Rally? Signs Point to a Bullish Move
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Market
Solana (SOL) Rallies Strongly, Setting Sights on $200
Solana started a fresh increase above the $172 support zone. SOL price is rising and might soon aim for a move toward the $200 level.
- SOL price started a fresh increase after it settled above the $165 level against the US Dollar.
- The price is now trading above $172 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could continue to rise if it clears the $192 resistance zone.
Solana Price Starts Fresh Rally
Solana price formed a support base and started a fresh increase above the $162 level like Bitcoin and Ethereum. There was a strong move above the $165 and $172 resistance levels.
There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair. The price even cleared the $185 level. A high is formed at $192 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $155 swing low to the $192 high.
Solana is now trading above $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $192 level. The next major resistance is near the $195 level.
The main resistance could be $200. A successful close above the $200 resistance level could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $220 level.
Another Dip in SOL?
If SOL fails to rise above the $192 resistance, it could start a downside correction. Initial support on the downside is near the $188 level. The first major support is near the $180 level.
A break below the $180 level might send the price toward the $172 zone or the 50% Fib retracement level of the upward move from the $155 swing low to the $192 high. If there is a close below the $172 support, the price could decline toward the $165 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $188 and $185.
Major Resistance Levels – $192 and $200.
Market
Will Bulls Push It Higher?
Ethereum price started a fresh surge above the $2,650 resistance. ETH is up over 10% and might aim for a move above the $2,850 resistance.
- Ethereum started a fresh surge above the $2,650 resistance zone.
- The price is trading above $2,700 and the 100-hourly Simple Moving Average.
- There is a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to rise if it settles above $2,850 and $2,880.
Ethereum Price Extends Surge
Ethereum price started a fresh increase above the $2,550 resistance like Bitcoin. ETH was able to climb above the $2,550 and $2,650 resistance levels to move into a positive zone.
It even surged above the $2,720 level in the past few sessions, beating BTC. It is up over 10% and there was a move above $2,800. A high is formed at $2,848 and the price is showing signs of more upsides. It is holding gains above the 23.6% Fib retracement level of the upward move from the $2,357 swing low to the $2,848 high.
Ethereum price is now trading above $2,700 and the 100-hourly Simple Moving Average. There is also a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,850 level. The first major resistance is near the $2,880 level. The main resistance is now forming near $2,950. A clear move above the $2,950 resistance might send the price toward the $3,000 resistance.
An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone.
Are Dips Supported In ETH?
If Ethereum fails to clear the $2,850 resistance, it could start a downside correction. Initial support on the downside is near the $2,800 level. The first major support sits near the $2,720 zone and the trend line.
A clear move below the $2,720 support might push the price toward $2,650. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,850
Major Resistance Level – $2,720
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