With Donald Trump’s win in the 2024 US elections, the crypto market is experiencing a fresh rally — and AI coins are not being left behind. This week, a number of these AI-focused tokens have seen notable price increases and a surge in investor interest.
In this analysis, BeInCrypto examines three AI coins that have experienced substantial price growth this week.
PAAL AI (PAAL)
PAAL powers PAAL AI, a protocol that lets users create personalized AI bots. It currently trades at $0.33, noting a 59% price surge over the past week, making it an AI token to pay attention to. It currently trades at a price high last observed in August.
PAAL’s double-digit spike has pushed its price above its 20-day exponential moving average (EMA), which measures its average closing price over the past 20 days. When an asset trades above this key moving average, it indicates that it is experiencing an upward momentum. Traders view this as a sign of a short- to medium-term uptrend.
If PAAL maintains its uptrend, its price may climb toward $0.41, which it last reached in May. Conversely, a surge in selling pressure will invalidate this bullish outlook and cause the token’s price to plunge toward $0.13.
Volt Inu (VOLT)
VOLT is a deflationary token based on the Ethereum network. It currently trades at $0.00000042 and has seen a 58% uptick during the week in review. At its current price, the AI-based token exchanges hands at a price level last recorded in June.
As of this writing, VOLT’s Balance of Power (BoP), which measures the strength of buyers versus sellers in the market, confirms that buying pressure remains significant among market participants. Its BoP is positive at 0.20, suggesting buyers are in control and pushing the price higher.
If this trend persists, VOLT’s price will likely test resistance at $0.00000049. A successful breakout could propel the token towards $0.00000057, continuing its upward momentum.
However, if profit-taking activity resurfaces, this bullish outlook may be invalidated. A decline in buying pressure could push VOLT’s price down to $0.00000023. If this level fails to hold, the price may further drop to $0.00000021.
Arkham (ARKM)
ARKM powers Arkham, a blockchain analytics platform that uses AI for on-chain analysis. It currently trades at $2.27, noting a 37% price surge over the past week. It continues to enjoy a significant bullish bias, as evidenced by its positive Elder-Ray Index. At press time, this stands at 0.82.
The Elder-Ray Index measures the strength of buyers (bulls) and sellers (bears) in the market. When its value is positive, it generally means that buyers are stronger than sellers, indicating a bullish market sentiment.
If demand for ARKM intensifies, its price could rally toward the long-term resistance at $2.74. A break above this level would put it on track to reclaim its year-to-date high of $3.99. Conversely, if bearish pressure builds, the price may drop to $1.44.
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.
