The altcoin market continued its rise from last month, with three AI tokens achieving significant gains in the first trading week of June. These assets include TokenFi (TOKEN), HyperGPT (HGPT), and Bad Idea (BAD), all of which seem poised to continue their recovery over the weekend.
TOKEN Chart Analysis
TOKEN powers TokenFi, a protocol that allows users to create tokens or tokenize real-world assets. Over the past seven days, TOKEN’s price increased by over 27%. At the time of writing, the altcoin was trading at $0.17.
An evaluation of the token’s price movements on the daily chart confirmed that buying activity among TOKEN holders continued to outpace profit-taking. As of this writing, the Relative Strength Index (RSI) was in an uptrend at 70.43.
If the bulls maintain this trend, TOKEN’s price could surpass the $0.17 level and trade at $0.183. However, if profit-taking activity continues and bears re-emerge to regain market control, TOKEN could lose some of last week’s gains and fall to $0.152.
HGPT Chart Analysis
HGPT is the native token of HyperGPT, a Web3 AI marketplace, and was the second most profitable AI crypto in the past seven days. At the time of publication, HGPT was trading at $0.07774, with its value increasing by 28% during this period. The rise in HGPT demand pushed its price above the 20-day Exponential Moving Average (EMA) on June 3. The 20-day EMA tracks an asset’s average price over the past 20 days.
Trading above this significant moving average is a bullish signal. This indicates that the asset’s current price has surpassed its average price over the past 20 days. Investors view this as a shift towards coin accumulation.
Readings from HGPT’s Directional Movement Index (DMI) confirmed the increase in accumulation over the past few days. The positive directional index (green) stands above the negative index (red). If this trend continues, HGPT could trade at $0.082 and attempt to reclaim its all-time high of $0.108 recorded on March 29.
Bad Idea Chart Analysis
Bad Idea is supported by the BAD token, which saw its value increase by 24% last week. At the time of writing, this altcoin was trading at $0.00000003035. The Chaikin Money Flow (CMF) was in an uptrend and seen above the zero line at 0.13.
This indicator measures an asset’s buying and selling pressure to track how money flows in and out of the market. A value above zero indicates market strength, meaning the buying pressure is stronger than the selling pressure due to more money entering the asset than exiting. If buyers maintain this trend for BAD, its price could rise to $0.0000000032. However, if sales gain pressure at this level, BAD could lose some of its weekly gains and trade at $0.0000000029.
