Despite the cryptocurrency markets maintaining an unusually stagnant state over the past 24 hours, the activity of AI tokens and memecoins resumed. Notably, AGIX, RNDR, and FET exhibited a surge earlier in the day, only to initiate a decline a little while later.
The consistent formation of higher highs and higher lows on the price charts suggests a prevailing upward momentum, indicating potential buying interest and positive sentiment among market participants.The recent surge in the RSI for AI tokens mean noteworthy implications for AGIX, RNDR, and FET. However, traders must remain vigilant for potential bearish divergences or signs of overextension, especially when RSI values reach elevated levels. Such conditions might foreshadow a correction or a reversal in the trend in the future.AMBCrypto’s analysis of Santiment’s data has revealed a notable surge in the network growth of AGIX, RNDR, and FET. This surge in network growth implies a substantial increase in the number of new addresses associated with these tokens.
The surge in attention is comparable to the dynamics observed in the memecoin sector, where market movements are predominantly influenced by hype and social media buzz.
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Source: CryptoAmb - 🏆 22. / 68 Read more »