This one AI token acts as a leading indicator for AI cryptocurrencies. It is attempting to break out. A confirmed breakout suggests that some AI tokens will be explosive in the coming 3 months.
We already mentioned that crypto and AI can help build generational wealth. While we tend to look at this AI mega trend on a long term basis, we also want to be mindful of great entry points.
It might be that this AI token is sending a clear message: a great entry into the AI crypto space might be here.
Let’s face it – this reversal which has the form of a cup and handle type pattern is a very bullish chart pattern.
The breakout level is being tested, today.
This is how we read this chart:
- A breakout will be confirmed once the current level is cleared, and not touched for at least 5 consecutive days (ideally 8 days).
- If a breakout is confirmed, the former highs will be cleared quickly and easily.
- The upside potential is at least 3x in the medium term. Long term, we would not be surprised to see 50x, say in 2 to 3 years from now, although this is the most bullish target imaginable. A safer target is 10x to 12x.
Now, the impact of a breakout confirmation is what matters more.
The impact will be that many more AI tokens will follow the path higher of this leading indicator. That’s in the end what a leading indicator is supposed to do – introduce a new trend well before the rest of its peers.
In our premium service, we tipped this AI token a few weeks ago, when it was trading 20% lower. Readers interested in more detail about our buy alert can read this premium alert (please sign up first as this alert lives in the restricted research area): Buy Alert: Two AI 2.0 Tokens, One Big Data Token.
Now, it should not come as a surprise that AI tokens are breaking out.
In fact, this post which went viral was alluding to it, very recently even.
The promise and challenges of crypto + AI applications:https://t.co/ds9mLnshLU
— vitalik.eth (@VitalikButerin) January 30, 2024
In a way, our AI token leading indicator is confirming what this crypto guru is writing.
One really interesting blog post which describes, functionally, how AI and blockchain can potentially work together is this one: AI and blockchain use cases.