Top 3 AI Tokens to Watch for September 2024: NEAR, ICP, and ASI

In today’s world, Artificial Intelligence is no longer a sci-fi concept. It is getting more realistic day by day. AI is being integrated into our daily lives

Artificial Intelligence (AI) has swiftly transitioned from being a futuristic concept to a tangible reality in today's world. Its integration is becoming increasingly evident, ranging from virtual assistants to advanced algorithms.

According to market analysts, the global AI market is poised to witness a remarkable surge, escalating from $207 Billion to over $1.2 Trillion by 2030. This buzz is generating substantial interest in the AI cryptocurrency sector among investors.

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As per CoinMarketCap, the top three AI tokens to watch for September 2024 are NEAR, ICP, and ASI.

NEAR Protocol (NEAR) is the leading artificial intelligence cryptocurrency with a market capitalization of $4.09 Billion. It is a layer one blockchain that leverages Nightshade technology to achieve massive parallelism in transaction throughput.

The token aims to address blockchain limitations such as slow transaction speeds, low throughput, and poor interoperability.

Moreover, the daily chart highlighted the formation of a declining parallel channel pattern with the NEAR price hovering close to the channel's lower boundary. The transaction volume has surged by 32.1% to $190.96 Million a day, indicating a high demand.

The long-term trend outlook is bearish at the moment. However, the price hovered near the demand zone of $3.5 level, from where some short-term buying may be triggered. Also, the price hovered near the channel's lower boundary, where a short-term buying is likely.

On the higher side, the 50-day EMA at $4.45 may be a hurdle for buyers if a recovery is triggered from the low.

Internet Computer (ICP) runs on special computing devices called “node machines.” It can be used to create online systems or services without the need for traditional IT. With a market capitalization of $3.34 Billion, it ranks 2nd among the three AI tokens and 23rd in the crypto space.

Internet computer crypto highlighted a consolidation for the last week near the demand zone. The ICP price lags below all the key exponential moving averages, indicating a prevailing bearish trend.

A breakout of the consolidation may indicate the end of a correction phase. At the same time, a breakdown may suggest a bearish continuation.

The trading volume has surged by nearly 3.8% to $65.8 Million a day. Also, the volume-to-market cap ratio of 2.26% suggests low volatility.

Artificial Superintelligence Alliance (ASI) is formed by the collaboration of three individual AI tokens: Fetch.ai, SingularityNet, and Ocean Protocol.

It is a platform that combines AI, machine learning, and blockchain technology to create a decentralized network. It has a live market capitalization of $2.70 Billion and ranks 27th in the crypto-verse.

As evident from the daily chart, the long-term trend outlook is bearish, with some demand in the short term. The Bulls are attempting a recovery in the short term as the price has rebounded from the lower levels. The bears on the higher side have established their presence near the key 200-day EMA.

Now, a sustained move above the 200-day EMA at $1.38 would mark the end of a correction phase. When writing, both the RSI line and 14-day SMA line were placed in the upper half, i.e., above the mean line. It suggested a positive outlook in the short term.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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