The altcoin market saw a continued upward trend this month, with three AI tokens making significant gains in the first week of June. TokenFi (TOKEN), HyperGPT (HGPT), and Bad Idea (BAD) all showed promising signs of further recovery as the weekend approached.
TOKEN Chart Analysis
TOKEN is the driving force behind TokenFi, a platform that enables users to create tokens or tokenize real-world assets. In the past week, TOKEN’s price surged by more than 27%, reaching $0.17 at the time of writing. For the latest financial and business news, check out COINTURK FINANCE.
A closer look at TOKEN’s price movements on the daily chart revealed that buying activity among TOKEN holders continued to outpace profit-taking. As of now, the Relative Strength Index (RSI) was on an upward trend at 70.43. If the bullish momentum persists, TOKEN could break through the $0.17 mark and aim for $0.183. However, if profit-taking intensifies and bears take control of the market, TOKEN may retrace some of its recent gains and drop to $0.152.
HGPT Chart Analysis
HGPT serves as the native token for HyperGPT, a Web3 AI marketplace, and emerged as the second most profitable AI cryptocurrency in the past seven days. Currently trading at $0.07774, HGPT’s value surged by 28% during this period. The increased demand for HGPT pushed its price above the 20-day Exponential Moving Average (EMA) on June 3, signaling a bullish trend.
Analysis from HGPT’s Directional Movement Index (DMI) confirmed the uptick in accumulation over the past few days, with the positive directional index (green) surpassing the negative index (red). If this trend continues, HGPT could aim for $0.082 and strive to reclaim its previous all-time high of $0.108 from March 29.
Bad Idea Chart Analysis
Bad Idea is backed by the BAD token, which witnessed a 24% increase in value last week. Currently trading at $0.00000003035, this altcoin displayed an uptrend in the Chaikin Money Flow (CMF) above the zero line at 0.13. The CMF measures buying and selling pressure in the market, with a value above zero indicating market strength due to stronger buying pressure.
If buyers sustain this positive momentum for BAD, its price could climb to $0.0000000032. However, if selling pressure intensifies, BAD might experience a retracement of its weekly gains and drop to $0.0000000029.
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