What Is a Death Cross?

A Death Cross occurs when an asset’s 50-day simple moving average (SMA) drops below its 200-day SMA. Historically, this is seen as a long-term bearish indicator. Nvidia’s stock formed this pattern before the market closed on March 21.

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AI Crypto Tokens Rise Despite Nvidia’s Bearish Signal

Interestingly, several AI-related crypto tokens have posted gains despite Nvidia’s bearish technical indicator:

• Render (RNDR): up 4.06% at $3.34
• Bittensor (TAO): up 2.88% at $254.27
• Artificial Superintelligence Alliance (FET): up 2.88% at $0.5162

Although there have been times when AI tokens surged in tandem with Nvidia’s gains — such as its 70% rally ahead of Q2 2024 earnings — the correlation has not always been consistent.

Has the AI Crypto Hype Bubble Burst?

Some traders believe the AI crypto hype has cooled off, and that only projects with real utility and revenue models will thrive. Crypto trader CryptoCosta remarked, “The AI hype has already died down; now it’s time for those providing market solutions and revenue.”

In the past month, the AI and Big Data crypto sector has seen a 23.70% decline in total market capitalization. Near Protocol (NEAR), the largest token in this category, is down nearly 59% over the past year, currently trading at $2.70.

CZ Warns Against Over-Tokenization

Former Binance CEO Changpeng “CZ” Zhao stated that crypto is the natural currency for AI, but warned against launching tokens without scale or purpose:

“Agents can take fees in existing crypto for providing services. Launch a coin only if you have scale. Focus on utility, not tokens.”

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In a Twitter post on August 19th, Coinbase revealed that Near Protocol (NEAR), Aerodrome (AERO), VeChain (VET), VeThor (VTHO), and PayPalUSD (PYUSD) are now accessible to New York residents.

As is well-known, different states in the US have varying regulations regarding cryptocurrencies. Given New York’s stricter regulations, Coinbase’s approval to list these altcoins is a significant development.

The exchange stated in its announcement, “Five new assets are now available to New York users. NEAR, AERO, VET, VTHO, and PYUSD (ERC-20) are now accessible to NY residents on the Coinbase website and Coinbase iOS/Android apps.”

According to CoinGecko data, these altcoins have seen a surge in price, paralleling Bitcoin’s upward trend. NEAR is trading at $4.1, up 5.2%, while AERO is at $0.658, VET at $0.0235, and VTHO at $0.00206.

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Bitcoin (BTC) couldn’t surpass the resistance level of $62,440 and is currently trading at $60,852. In the past hours, the price rose to $62,425 but then lost volume and fell back to $60,750. If it doesn’t close above $60,803 on the daily candle, the next support level is $60,190.

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After reaching the support level of $63,450, Bitcoin (BTC) has risen and is currently trading at $64,380. In recent days, the price surged to $66,500 but then lost significant volume and did not show signs of a rebound. If it does not close above $64,260 in the daily candle, the next support levels are $63,450 and $62,880.

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Bitcoin (BTC): The BTC/USDT pair has lost 0.02% in the last 24 hours and is currently trading at $64,380. The resistance levels for BTC are first at $65,500 and then at $66,000. The support levels are at $64,260 and if it drops below this area, the next support is at $63,450.

Ethereum (ETH): The ETH/USDT pair has lost 0.20% in the last 24 hours and is currently trading at $3,507. The resistance levels for ETH are first at $3,655 and then at $3,735. The support levels are at $3,480 and if it drops below this area, the next support is at $3,400.

Solana (SOL): The SOL/USDT pair has lost 1.00% in the last 24 hours and is currently trading at $134.42. The resistance levels for SOL are first at $137.82 and then at $141.16. The support levels are at $132.90 and if it drops below this area, the next support is at $124.90.

Dogecoin (DOGE): The DOGE/USDT pair has gained 0.19% in the last 24 hours and is currently trading at $0.1245. The resistance levels for DOGE are first at $0.1247 and then at $0.1365. The support levels are at $0.1200 and if it drops below this area, the next support is at $0.1129.

Near Protocol (NEAR): The NEAR/USDT pair has gained 1.12% in the last 24 hours and is currently trading at $5.36. The resistance levels for NEAR are first at $6.00 and then at $6.60. The support levels are at $5.16 and if it drops below this area, the next support is at $5.02.

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Bitcoin (BTC) managed to rise to $66,500 after reacting at the $64,260 support level. However, since it couldn’t close the daily candle above $65,500, the price recently fell to $64,520. For a positive upward trend, we need to see daily closes above $65,500.

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Bitcoin (BTC): The BTC/USDT pair has lost 1.13% in the last 24 hours and is currently trading at $64,400. Resistance levels for BTC are first at $65,500, then at $66,000. Support levels are at $64,260 and, below this region, at $63,450.

Ethereum (ETH): The ETH/USDT pair has lost 1.39% in the last 24 hours and is currently trading at $3500. Resistance levels for ETH are first at $3655, then at $3735. Support levels are at $3480 and, below this region, at $3400.

Arweave (AR): The AR/USDT pair has lost 3.33% in the last 24 hours and is currently trading at $25.60. Resistance levels for AR are first at $28.50, then at $29.50. Support levels are at $25.20 and, below this region, at $22.

Dogecoin (DOGE): The DOGE/USDT pair has gained 1.28% in the last 24 hours and is currently trading at $0.1241. Resistance levels for DOGE are first at $0.1247, then at $0.1365. Support levels are at $0.1200 and, below this region, at $0.1129.

Near Protocol (NEAR): The NEAR/USDT pair has gained 4.60% in the last 24 hours and is currently trading at $5.26. Resistance levels for NEAR are first at $6.00, then at $6.60. Support levels are at $5.16 and, below this region, at $5.02.

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After testing the $67,000 resistance level, Bitcoin (BTC) experienced a decline and is currently priced at $66,400. If it does not find support at the $66,000 level in the first stage, the next support level we encounter is $65,450.

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Bitcoin (BTC): The BTC/USDT pair has gained 0.59% in the last 24 hours and is currently trading at $66,400. The resistance levels for BTC are first $67,000, and then $68,680. The support levels are $66,000 and below this region, $65,450.

Ethereum (ETH): The ETH/USDT pair has gained 2.43% in the last 24 hours and is currently trading at $3550. The resistance levels for ETH are first $3655, and then $3850. The support levels are $3530 and below this region, $3480.

Near Protocol (NEAR): The NEAR/USDT pair has lost 5.00% in the last 24 hours and is currently trading at $5.63. The resistance levels for NEAR are first $6.00, and then $6.60. The support levels are $5.84 and below this region, $5.61.

Injective (INJ): The INJ/USDT pair has lost 8.08% in the last 24 hours and is currently trading at $25.98. The resistance levels for INJ are first $28.44, and then $30.44. The support levels are $27.57 and below this region, $27.03.

Tron (TRX): The TRX/USDT pair has lost 0.41% in the last 24 hours and is currently trading at $0.11603. The resistance levels for TRX are first $0.11780, and then $0.11900. The support levels are $0.11521 and below this region, $0.11145.

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Bitcoin (BTC) faced a drop after testing the $67,000 resistance level and is currently priced at $66,700. Recently, it hit $68,500 before falling back to $66,250. If it fails to find support at $66,000, the next support level is $65,450.

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Bitcoin (BTC): The BTC/USDT pair has lost 0.96% in the last 24 hours and is trading at $66,700. Resistance levels for BTC are at $67,000 and $68,680, while support levels are at $66,000 and $65,450.

Ethereum (ETH): The ETH/USDT pair has lost 0.30% in the last 24 hours and is trading at $3,490. Resistance levels for ETH are at $3,530 and $3,655, while support levels are at $3,480 and $3,400.

Near Protocol (NEAR): The NEAR/USDT pair has lost 4.80% in the last 24 hours and is trading at $5.88. Resistance levels for NEAR are at $6.00 and $6.60, while support levels are at $5.84 and $5.61.

Injective (INJ): The INJ/USDT pair has lost 5.68% in the last 24 hours and is trading at $28.30. Resistance levels for INJ are at $28.44 and $30.44, while support levels are at $27.57 and $27.03.

Tron (TRX): The TRX/USDT pair has lost 0.84% in the last 24 hours and is trading at $0.11645. Resistance levels for TRX are at $0.11780 and $0.11900, while support levels are at $0.11632 and $0.11521.

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AI coins, a burgeoning sector within the cryptocurrency market, have attracted significant interest with the upcoming Nvidia GTC. These unique coins leverage artificial intelligence within their platforms, presenting investors with exciting opportunities amidst a rapidly evolving technological landscape.

Top AI Coins to Watch

1. NEAR Protocol (NEAR): NEAR Protocol has captured attention with its impressive features. It boasts the ability to process up to 100,000 transactions per second and offers a user-friendly onboarding process for DApp developers. Currently priced at US$7.95 with a robust 24-hour trading volume of $690.18 million, NEAR’s recent performance and growth potential make it a compelling option. With a circulating supply of 1.04 billion NEAR tokens, it solidifies its position as a key player in the AI coin ecosystem.

2. Injective (INJ): Injective is another prominent contender in the AI coin arena. It currently trades at US$48.32 with a noteworthy 24-hour trading volume of $319.18 million. Its recent performance and circulating supply of 93.4 million INJ tokens highlight its significance within the market, making it a coin to keep an eye on as the Nvidia conference nears.

3. Theta Network (THETA): Theta Network, priced at US$3.39, maintains a steady trading volume of $114.58 million. Its circulating supply of 1 billion THETA tokens, coupled with its recent performance and innovative solutions within the AI-integrated project space, suggest potential for future growth.

4. Fetch.ai (FET): Launched in March 2018, Fetch.ai aims to accelerate research in cutting-edge technologies like blockchain and AI. With a current price of US$2.60 and a substantial trading volume of $428.33 million, its unique features and circulating supply of 838.32 million FET tokens solidify its position as a noteworthy player in the AI coin landscape.

5. Arkham (ARKM): Priced at US$2.91, Arkham maintains a trading volume of $122.6 million. Its circulating supply of 150 million ARKM tokens warrants observation as the industry gears up for the Nvidia conference, solidifying its presence within the AI-integrated project landscape.

Investing in AI Coins as Nvidia GTC Approaches

With the Nvidia GTC drawing closer, investors have a unique opportunity to explore these AI coins. NEAR, Injective, Theta, Fetch.ai, and Arkham represent the transformative potential of AI and blockchain technologies, offering solutions to real-world challenges while driving innovation forward. By closely monitoring these projects, investors can effectively navigate the evolving crypto market and potentially position themselves for future growth and lucrative opportunities.

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Cryptocurrency expert Crypto Jebb Information unveils his highly anticipated list of top altcoin picks for the approaching 2024-2025 bull market, poised for significant growth. Let’s explore these potential gems:

Best Altcoins for Next Bull Run

Solana (SOL): Reigns supreme as Jebb’s top choice, praised for its innovative solutions to scalability, security, and decentralization. Solana boasts lightning-fast transactions (over 50,000 per second!) and a recent price surge from $22 to $122. Its technological advancements, mainstream adoption, and impressive performance solidify Solana’s position as a standout investment.

Cardano (ADA): Despite its strong foundation led by Charles Hoskinson and advanced technology, Cardano lands slightly lower due to its smaller total value locked (TVL) and limited adoption of major decentralized applications.

Chainlink (LINK): Plays a pivotal role in connecting real-world data to blockchain networks, making it an indispensable component for numerous projects.

Polkadot (DOT): Championing interoperability, Polkadot seeks to create a seamless ecosystem where various blockchains can collaborate, eliminating isolated blockchain industries.

What is Polkadot ($DOT)?

Internet Computer (ICP): Bounces back from initial setbacks, demonstrating resilience and potential for growth. ICP offers autonomous serverless cloud functionality for decentralized applications.

Uniswap (UNI): A major player in the DEX space, Uniswap shines with its efficient and secure trading platform. Its established track record, high trading volume, and low inflation make it an attractive investment.

XRP: Renowned for its speed and association with Ripple, XRP has gained renewed confidence after recent legal victories against the SEC. However, concerns linger regarding released functionalities during the legal battle.

Cosmos (ATOM): Dubbed the “blockchain for building blockchains,” Cosmos empowers users to create high-performing blockchains. With a strong community and impressive staking rewards (over 11%), Cosmos presents a compelling investment opportunity.

Near Protocol (NEAR): Aims to simplify web 3 development by providing familiar programming tools like JavaScript and Rust for building decentralized applications.

Arbitrum (ARB): A layer two solution on Ethereum designed to boost decentralized app speed. While concerns exist about tokenomics and a large token supply release, Jebb predicts a 10x market cap increase (to over $20 billion) in the coming bull market.

Beyond the Hype:

While 2024 paints a promising picture for altcoins, showcasing the transformative potential of blockchain technology with features like fast transactions and innovative solutions, Jebb emphasizes the importance of careful navigation and strategic investment. Opportunities abound, but only those who make informed decisions will reap the rewards.

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