Top 3 Artificial Intelligence (AI) Coins of the Fourth Week of October 2024

This week, a number of AI-focused coins have seen notable price increases and a surge in investor interest. Virtuals Protocol (VIRTUAL), NOSANA (NOS), and Dimitra (DMTR) lead as the top gainers. VIRTUAL has skyrocketed by 199%, while NOS and DMTR have climbed by 84% and 36%, respectively. Virtuals Protocol (VIRTUAL) VIRTUAL powers Virtuals Protocol, a […]

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This week, a number of AI-focused coins have seen notable price increases and a surge in investor interest. Virtuals Protocol (VIRTUAL), NOSANA (NOS), and Dimitra (DMTR) lead as the top gainers.

VIRTUAL has skyrocketed by 199%, while NOS and DMTR have climbed by 84% and 36%, respectively.

Virtuals Protocol (VIRTUAL)

VIRTUAL powers Virtuals Protocol, a decentralized platform that harnesses AI-driven virtual interactions. Currently trading at $0.304, it has seen a 199% price surge over the past seven days to become one of the top gainers among AI coins.

BeInCrypto’s assessment of the VIRTUAL/USD one-day chart reveals the current significant bullish bias that the altcoin enjoys. For example, the dots that up its Parabolic Stop and Reverse (SAR) rest below its price as of this writing. This confirms that the asset is in an uptrend, and further price gains are likely.

However, the market is considerably overheated, as indicated by the token’s Relative Strength Index (RSI), which currently stands at 92.36.

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

Virtual Price Analysis.
Virtual Price Analysis. Source: TradingView

The RSI measures an asset’s oversold and overbought conditions, ranging from 0 to 100. Values above 70 suggest that an asset is overbought and may be due for a correction, while values below 30 indicate that it is oversold and likely to experience a rebound.

An RSI reading of 92.36 signifies that VIRTUAL is significantly overbought and at risk of a price correction. Should buyer exhaustion set in, the price could drop toward $0.23 to find support. If this level fails to hold, VIRTUAL’s price may fall below $0.20.

NOSANA (NOS)

NOS, the native token of Nosana — a protocol that leverages blockchain technology to provide on-demand access to GPU computing power — has seen its value climb by 84% over the past seven days. At press time, this AI-based token trades at $3.10.

NOS’ double-digit spike has pushed its price above the 20-day exponential moving average (EMA), which measures its average closing price over the past 20 days. When an asset’s price is above this key moving average, it is experiencing upward momentum. Traders view this as a confirmation of a short-to-medium-term uptrend.

Nosana Price Analysis
Nosana Price Analysis. Source: TradingView

If NOS maintains its uptrend, its price will break above the resistance formed at $3.64 and climb toward the four-month high of $4.46. However, a shift in market trend could drive the token’s price down to $2.62, likely failing to hold this level as support. Should this occur, NOS’s price may drop further to $0.97.

Dimitra (DMTR)

DMTR powers Dimitra, a blockchain-based platform that leverages AI technology to help the agriculture business. Its price has climbed 34% over the past seven days, making it one of the top AI coins this week. 

Readings from its moving average convergence/divergence (MACD) confirm this bullish outlook. At the time of writing, the coin’s MACD line (blue) sits above both the signal line (orange) and the zero line. 

This indicator tracks an asset’s price trends and momentum and identifies potential buy or sell signals. When set up this way, it indicates a strong bullish trend. It suggests that overall momentum is positive and the asset is in an uptrend.

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

Dimitra Price Analysis
Dimitra Price Analysis. Source: TradingView

Currently, the altcoin is trading at $0.12, just below the resistance level at $0.15. If the uptrend continues, DMTR could potentially break above this point and attempt to challenge the next major resistance at $0.18.

Successfully surpassing this level would set DMTR on course to reach $0.61. Should this fail, DMTR’s price may drop to $0.05.

The post Top 3 Artificial Intelligence (AI) Coins of the Fourth Week of October 2024 appeared first on BeInCrypto.

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