AI crypto tokens to watch out for as Trump greenlights AI action plan, altcoin season loads
The Artificial Intelligence (AI) crypto tokens are trading in the red after days of uptrend as the broader market pulls back. A minor hiccup in the altcoin season stalls the recovery in Bittensor (TAO), Artificial Superintelligence Alliance (FET) and Internet Computer (ICP), delaying breakout rallies.
Furthermore, US President Donald Trump signed three executive orders as part of “America’s AI action plan” on Wednesday to boost Artificial Intelligence technology in the country.
During the AI summit in Washington, Trump said, "America is the country that started the AI race, and as president of the United States, I am here today to declare that America is going to win it.”
As the US pushes forward on the AI tech frontier, these AI crypto tokens show potential to lead the rally in the approaching altcoin season.
Bittensor edges lower by over 1% at press time on Thursday, extending the 6% loss from Wednesday. Still, the AI crypto holds above the 200-day Exponential Moving Average (EMA) and the $400 psychological level on the daily chart.
TAO tests the 61.8% Fibonacci level at $422, drawn from $748 on December 5 to $167 on April 7. A potential close below this level could extend the decline to the 50-day EMA at $382.
The 50-day EMA marked a Golden Cross pattern with the 200-day EMA on Sunday, signaling a buy signal for sidelined investors as the short-term trend outpaces the longer-term motion.
Still, the Moving Average Convergence Divergence (MACD) indicator displays a declining trend in the histogram bars. A rise of the red histogram bar below the zero line would flash a reversal sign in Bittensor.
The Relative Strength Index (RSI) reads 57 on the daily chart as it reverses from near the overbought zone, suggesting a decrease in buying pressure.
Source: Fxstreet
