Watch These AI Coins As NVIDIA Wrap Is Set To Wrap Q2 Earnings.
The post Watch These AI Coins As NVIDIA Wrap Is Set To Wrap Q2 Earnings. appeared first on Coinpedia Fintech News
NVIDIA, the chipmaker & leading AI company will release its 2024 Q2 earning report, the stock market anticipates a record-breaking surge, so the AI Coins can be impacted.
Artificial Superintelligence Alliance (FET), Near Protocol (NEAR), and Render (RENDER) are a few of the AI Coins that could make it.
Artificial Superintelligence Alliance (FET)
The last earning report of NVIDIA released on May 22 revealed a massive 262% surge In year-to-date revenue, affecting the FET. The AI coin surged from $1.9 to $2.5 after the announcement.
Currently changing hands at $1.29 with a 7-day growth of 46.54% and 24-hour trading volume up by 32%.
In the FET/USDT Chart, we can see the price action on 21 Aug broke out of the descending channel and made a bullish surge. Registering a strong support at $0.79.
In the recent movement, FET was resisted at $1.385 and is down with 11.61% in 24 hours.
Currently, the indicators have turned to a bullish trend, with MACD passing the Golden Cross, and Chaikin Money Flow (CMF) indicator showing negative value too.
The RSI at 51 is at the neutral zone, and the token selling and buying is in balance.
If the NVIDIA report release persists in positive momentum, FET is expected to break into $1.7 zone further pushing to $1.9. Conversely, if invalidated the altcoin may see a drop near support of $1.18.
NEAR Protocol (NEAR)
NEAR is a prominent AI coin that will experience an impact with the NVIDIA report. The asset is currently in the correction stage with a 9.7% down in 24 hours but a 9% up in 7 days.
As seen on the NEAR/USDT Chart the AI coin attempted to rise above the resistance of $4.9, but failed to do so.
The applied Indicator Balance of Power (BoP) indicates that the sellers have strong control over buyers at the time of writing. The RSI at 42 facing downward shows the asset might face more correction.
If the NVIDIA wave impacts right, we can see a pullback towards the $5 zone.
Render (RENDER)
RENDER today is also facing a bearish trend, moving 6.61% down in 24 hours but 28% up in 7 days.
Having a strong support of $4.3, this AI asset is under dark clouds with the Chaikin Money Flow (CMF) indicator showing a negative sign, and the RSI 47 seems to be recovering.
The Current indicators show a downward to sideway movement for Render coin. If NVIDIA’s impact is apple a recovery towards $6.3 is expected for RENDER.