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March was an important opportunity period for artificial intelligence (AI) altcoins, and the Nvidia event provided support for some. We have extensively discussed the risks of ventures claiming to be AI-focused in cryptocurrencies. However, in this field, price is clearly determined by demand and hype. So, even if they won’t change the world, their prices can rise.
FET Coin Commentary
One of the most popular cryptocurrencies in the AI field, FET Coin, saw a turning point with its partnership with Bosch. Fueled by the excitement of the Nvidia event, its price increased by more than 227% this month, reaching a new all-time high (ATH) level. At the time of writing, the FET Coin price is hovering around $3.07, having peaked at $3.47.
Despite the price fluctuations of BTC, we cannot say that there has been a significant loss. However, the $3 threshold is an important level. If the price loses this region, it could fall to $2.34 in April. Below that, there is a breakout area at $1.71.
AGIX Coin April Target
There isn’t much change in the chart. AGIX Coin also displayed a similar performance but may now turn back from the ATH region it failed to surpass for the second time. This could bring the risk of a pullback to the $1 threshold if it closes below $1.29. Although March was an important period for AI altcoins, this excitement will eventually slow down at some point.
In a scenario where sales accelerate, it would not be surprising to see AGIX price gradually retract to $0.65. Moreover, if the halving in April triggers an increase in BTC and BTCD as expected, the appetite for risk in altcoins will weaken again. And this could mean that AGIX may not perform as well as it did in March.
AGIX is finding buyers at $1.31 at the time of writing. It is still far from a pessimistic scenario. Moreover, any declines are being balanced by excessive demand from investors aware that we are in a bull market.
OCEAN Coin Commentary
The ATH level on the Binance exchange was $1.96, and the price peaked at $1.67 in March. It could not continue its journey to ATH, and the long upper wick indicates strong profit-taking. An interesting aspect of this project is its chameleon-like nature. That is, if today’s hype is RWA, OCEAN suddenly becomes an RWA altcoin, or it was previously involved in AI or data services, etc.
The price may revisit the ATH level, but the long-term credibility and sincerity of its promises are debatable.
