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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The post “Death Cross” Concerns in Nvidia Stocks! appeared first on Coin Engineer.

Fetch.ai (FET) Coin Analysis:

Holding a prominent position within the artificial intelligence ecosystem, FET coin has experienced notable fluctuations in its recent price movements. As of July 19, 2024, FET coin is trading at around $1.44. The support level stands at $1.21, while the resistance level is at $1.82.

Fetch.ai (FET) stands out as an innovative platform that merges artificial intelligence and machine learning technologies with blockchain. The platform facilitates decentralized data exchange and collaboration, enabling new possibilities for the development and commercialization of AI applications.

Render (RNDR) Coin Analysis:

Render Token (RNDR) is a platform that offers decentralized GPU rendering power on the blockchain. It caters particularly to users in creative industries like film, gaming, and graphic design who require high processing power.

Exhibiting price volatility similar to FET, RNDR coin is currently trading around $6.53 as of July 19, 2024. Its support level is at $6.23, and the resistance level is at $6.81.

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The post Fetch.ai (FET) and Render (RNDR) Coin Analysis – July 20, 2024 appeared first on Coin Engineer.

Bitcoin (BTC) continues to trade at $56,550 after surpassing the resistance level of $56,550. After losing volume and dropping to $54,250 earlier today, it quickly rose again. As long as it closes above $56,550 on the daily candle, we can say that the price movement will be in an upward direction.

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Bitcoin (BTC): The BTC/USDT pair has gained 3.46% in the last 24 hours and is currently trading at $57,300. Resistance levels for BTC are first at $58,400, followed by $60,200. Support levels are at $56,550 and below that at $55,320.

Ethereum (ETH): The ETH/USDT pair has gained 5.97% in the last 24 hours and is currently trading at $3,075. Resistance levels for ETH are first at $3,090, followed by $3,170. Support levels are at $3,030 and below that at $2,920.

Avalanche (AVAX): The AVAX/USDT pair has lost 1.60% in the last 24 hours and is currently trading at $25.41. Resistance levels for AVAX are first at $27.24, followed by $29.24. Support levels are at $24.07 and below that at $19.47.

Render (RNDR): The RNDR/USDT pair has lost 0.70% in the last 24 hours and is currently trading at $6.412. Resistance levels for RNDR are first at $6.584, followed by $6.885. Support levels are at $5.862 and below that at $5.280.

Celestia (TIA): The TIA/USDT pair has gained 13.36% in the last 24 hours and is currently trading at $6.058. Resistance levels for TIA are first at $6.440, followed by $7.397. Support levels are at $5.131 and below that at $4.121.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Bitcoin (BTC) continues to be priced at $53,800 after breaking the $55,320 support level. It has recently lost significant volume and dropped to the $53,500 level. If it doesn’t close the daily candle above the $56,550 level, the next support level is $52,460.

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Bitcoin (BTC): The BTC/USDT pair has lost 8.16% in value over the last 24 hours and is currently trading at $53,800. The resistance levels for BTC are first at $55,320 and then at $56,550. The support levels are at $52,450 and if below this region, at $50,520.

Ethereum (ETH): The ETH/USDT pair has lost 11.62% in value over the last 24 hours and is currently trading at $2860. The resistance levels for ETH are first at $2920 and then at $3090. The support levels are at $2820 and if below this region, at $2720.

Avalanche (AVAX): The AVAX/USDT pair has lost 13.18% in value over the last 24 hours and is currently trading at $22.60. The resistance levels for AVAX are first at $24.10 and then at $27.24. The support levels are at $19.47 and if below this region, at $15.87.

Render (RNDR): The RNDR/USDT pair has lost 14.50% in value over the last 24 hours and is currently trading at $6.035. The resistance levels for RNDR are first at $6.584 and then at $6.885. The support levels are at $5.862 and if below this region, at $5.280.

Celestia (TIA): The TIA/USDT pair has lost 12.20% in value over the last 24 hours and is currently trading at $4.542. The resistance levels for TIA are first at $5.131 and then at $6.441. The support levels are at $4.210 and if below this region, at $3.411.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Trader Matthew Hyland noted in a May 28 X post, “NVDA is surging; AI coins are quiet now, but don’t expect that to last.”

Nvidia’s Influence on AI Crypto Tokens

Artificial intelligence companies are running their AI models on Nvidia-made computer processors. With NVDA’s performance as a barometer of the market’s AI attitude, crypto traders view the stock price as a prediction of how AI tokens may move.

According to Google Finance, Nvidia has gained 22% over the previous five trading days to end May 28 at a record high of $1,140; the stock has had a year-to-date rise of around 137%.

With an 18% increase from Q4 2023 and a 262% increase from the year-ago quarter, Nvidia’s first-quarter revenue exceeded expert projections by around 5.6%.

Several of the biggest AI cryptocurrencies by market capitalization, meanwhile, have dropped during the past week instead of following Nvidia.

Based on CoinMarketCap, Render (RNDR), fetch.ai (FET), and SingularityNet (AGIX) lost 8.14%, 11.39%, and 11.19% over the previous seven days, respectively.

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Though AI crypto tokens are not following the increase, some traders think this may change amid the declining stock price of Nvidia.

“The moment NVDA starts to sell off, it will take all the other mega-cap tech names with it, at least for a couple of days,” anonymous crypto trader Triplexx said in a May 28 post. “Then whatever the attitude of crypto is, it will draw crypto with it no matter what. Get ready.”

Investment guru Lyn Alden pointed out on May 25 that among the few equities that have outperformed Bitcoin over the previous ten years is Nvidia.

According to trading site The Kobeissi Letter, a $10,000 investment in Nvidia in 1999 was “worth $25.3 million” as of May 24, one day earlier.

Over the next decade, the larger crypto community feels Nvidia won’t produce the same profits as Bitcoin.

Swan Bitcoin CEO Cory Klippsten said, “There is a near-zero chance of Nvidia outperforming Bitcoin over the next 10 years.”

The post Nvidia Surges While AI Crypto Tokens Fall, But Traders Predict Rebound appeared first on Coin Engineer.

The post The Latest on Bitcoin and Cryptocurrencies – May 27 appeared first on Coin Engineer.

Bitcoin (BTC) is currently experiencing a recovery. Yesterday evening, with the news of the approval of Ethereum ETFs, there was a highly volatile market, and it retreated to the level of $66,300. Due to the market possibly pricing in the Ethereum ETF news during the anticipation period, it is likely to see a pullback following the realization of the news. The first support level to watch during pullbacks is $63,000.

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Bitcoin (BTC): The BTC/USDT pair has lost 3.5% in value over the last 24 hours and is currently trading at $67,900. For BTC, the resistance levels are first at $72,000 and then at its all-time high (ATH). The support levels are at $62,800 and below that at $60,000.

Ethereum (ETH): The ETH/USDT pair has lost 2.9% in value over the last 24 hours and is currently trading at $3,684. For ETH, the resistance levels are first at $3,950 and then at $4,100. The support levels are at $3,476 and below that at $3,320.

Mina (MINA): The MINA/USDT pair has gained 1.7% in value over the last 24 hours and is currently trading at $0.81. For MINA, the resistance levels are first at $0.87 and then at $0.97. The support levels are at $0.78 and below that at $0.70.

Render (RNDR): The RNDR/USDT pair has lost 5.5% in value over the last 24 hours and is currently trading at $9.95. For RNDR, the resistance levels are first at $10.65 and then at $11.15. The support levels are at $9.77 and below that at $9.42.

Avalanche (AVAX): The AVAX/USDT pair has lost 5.05% in value over the last 24 hours and is currently trading at $37.68. For AVAX, the resistance levels are first at $40 and then at $50. The support levels are at $33.7 and below that at $29.2.

The post The Latest on Bitcoin and Cryptocurrencies – May 24 appeared first on Coin Engineer.

Bitcoin’s Stalemate

Bitcoin remains in the fight, floating around $60,000, as the bulls and the bears are playing a tug-of-war. The $60,000 level is critical with possible weekly loss of over 4%, which is a risk if breached. The analyst Timothy Petterson is still bullish and thinks that Bitcoin will increase to $175,000 – $350,000 by early 2025.

Traditional Finance Embraces Bitcoin

The recent submissions by JPMorgan Chase and Wells Fargo to the SEC show that the interest in Bitcoin is rising although the allocations made are very small. This step represents a wider institutional support, thus, shifting focus to other cryptocurrencies.

Analyzing Bitcoin’s Chart

The technical indicators of Bitcoin introduce a fierce fight, where the 20-day EMA becomes the critical battlefield. Lack of breach above $62,650 can cause repurchase of support at $56,552 and breakthrough can lead to start of a rally towards $73,777.

Altcoins Poised for Action

TON and RNDR are promising amid the stagnation of Bitcoin, preparing for potential upward bursts.

TON and RNDR Analysis

TON struggles at $7. 23, while RNDR looks forward to $12 during a bullish move. They both encounter the key support levels, suggesting possible consolidations could come before more upside.

PEPE Gains Traction

Bull patterns are shown by PEPE aiming at $0.0000145. That is underpinned by sustained buying interest.

By now, Bitcoin is remaining in the lateral trend so that the focus shifts to altcoins in terms of potential profits or the accounts of traders become flexible during the sideways movements of the market.

The post Bitcoin Sideways, Altcoins Ready to Surge appeared first on Coin Engineer.

Pitbull Coin Price Analysis:

According to TradingView data, Pitbull Coin, which spent the day with a 3 percent decrease, is currently hovering at $0.000000000845.

Pitbull Coin continues to follow an uptrend from the bottom. Memecoin is above an ongoing bullish band at 0.000000000660. However, it started to rise again after there was a profit sale and the price still remains bullish. If the next resistance zone is the $0.00000000088 level, we can say that the support zone is the area where the price is currently.

Render Price Analysis:

According to TradingView data, Render, which spent the day with a 1 percent increase, is traded at $ 11. As we stated in our analysis last week, it managed to break the resistance level and move even higher.

Render has also been in an upward trend since $7. However, although there were profit sales after reaching 10 dollars, Render continues to hold on to the rising trend. The next resistance zone on Render is $11.2 while the support zone is $10 levels.

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Render Price Analysis:

It gained nearly 1 percent and is currently trading at $9.98, according to TradingView data.

When we look at the render chart, we can see that it has been in an upward trend for a long time and has pulled the price from $ 7 to $ 9.98. The support zone on Render is at $9.48, while the resistance is at $10.3.

Aptos Price Analysis:

Aptos, which started the day by gaining approximately 0.43 percent in value, is currently trading at $9.27.

When we look at Aptos’ chart, we observe that the price has been moving in a certain area for a while. However, expectations are high from Aptos, which has not been able to add much to its investors in the last year.

While the support level in Aptos is $9, the resistance zone is $9.39 and $9.9.

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