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True to the real-world scenario, AI tokens are among the high performers early in this cycle.
We can anticipate the market betting on the future with strong AI projects whose price action represents both strength and fair value.
We've tracked a few star players in the crypto x AI sector here, here, and here.
While most of the broader crypto market has traded down in the last few weeks, we think some AI coins are uniquely positioned to break out in June.
Whether you are an experienced or beginner crypto trader, you'll find this report helpful as we present the opportunities and clear directions for taking advantage of the momentum.
Let's dive in.
Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. We also advise setting a risk tolerance level in terms of capital allocation while trading. The industry standard is no more than 2% of your portfolio at any given time. This means if you are in an open position already, it's advised not to take on more trades, which will lead you to be overexposed. Allow current trades to be settled; there will be more opportunities around the corner.
Fetch.ai (FET)
Fetch AI is a platform using artificial intelligence to help automate everyday tasks. It is a blockchain-based system where digital representations of you, called 'digital twins' or Autonomous Economic Agents (AEAs), can negotiate deals on your behalf.It is also one of the three AI projects merging to form ASI (Artificial Superintelligence).
You can read our initial research report on FET here
Technical analysis
We have a daily floor being held nicely at around $2.40, which has seen multiple prints of clear supply and demand in recent history for this asset, especially significant demand.
This LOI (Line of Interest) is where we would look to capitalise on this play.
Play for traders
- Scenario 1: Consider entering at market here with the clear intra-day signs of confirmation being shown.
- Scenario 2: Place a limit order on the LOI of $2.24, which has a high probability of being triggered.
Risk and reward
Scenario 1 and Scenario 2 share the same stop loss. We believe this conviction would be invalidated if we began to trade beneath the LOI and the next key level below.This stop loss gives room for the $2.00 mark to come into play, but below that, we would want to be out.
- Stop loss: $1.893, resulting in a 15% loss if the stop loss is triggered
- Take profit: $3.475 to give a 55% upside if TP is achieved
Render (RNDR)
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