Analyze the future price trends of 8 tokens in the AI sector from both short-term and long-term perspectives

Author: Our Crypto Talk, Crypto KOL

Compiled by: Felix, PANews

Altcoins are surging, and artificial intelligence will become the dominant narrative of the bull market. Will these projects bring 100x returns in the long run? Crypto KOL @ourcryptotalk helps you find the answers from both short-term and long-term perspectives.

(This article is not investment advice)

The Render Network (RNDR)

Short-term Analysis

• RNDR has broken through the long-term resistance level of $5 and is approaching $6.
• Even if the AI hype cools down, RNDR may still hold above $5. This will be the buying range for RNDR.

Long-term Analysis

• RNDR was launched at the peak of the bull market and subsequently experienced a downward trend.
• For over a year, RNDR's price action has consistently formed a HH HL structure, which is encouraging (Note: HH refers to higher highs, HL refers to higher lows).
• The ATH should break in the next 2-3 months and reach $20 by the end of 2024.

Openτensor (TAO)

Short-term Analysis

• The price of TAO is supported by a bullish flag pattern, with a target price of $620, and TAO has broken through.
• A bearish divergence indicates that a few days of accumulation are needed before the next rally.

Long-term Analysis

• TAO's 2023 is focused on development, and the price action is shown in the chart below.
• The price range of $30 to $100 has been broken, setting a new high.
• TAO's long-term target should be between $1500 and $2000, as the AI sector is still far below its peak.

Injective (INJ)

Short-term Analysis

• Since reaching ATH, INJ has been in what appears to be a bullish symmetrical triangle and has broken the upward structure.
• The upward price target is $50, which would create a new ATH for INJ.

Long-term Analysis

• In the long run, INJ has the potential to follow the trajectory of SOL in the last bull market.
• The target price formed by this bullish flag pattern is above $100, which should be easily reached and surpassed by the end of 2024.

Verasity (VRA)

Short-term Analysis

• Recently, VRA rose 50% from $0.005 to $0.0075, forming an upward trend again.
• The support level at $0.007 is crucial in the medium term, and this level has been broken, with the relative strength index (RSI) still having some room (Note: RSI is used to measure the speed and magnitude of price movements, typically considered overbought when above 70 and oversold when below 30).

Long-term Analysis

• The ongoing accumulation since the bear market is a good sign, but it has lasted longer than expected.
• If VRA can achieve even half of the gains seen in 2021, then the current range is worth buying.

PAAL AI (PAAL)

Short-term Analysis

• From the perspective of the relative strength index, the 4hTF has peaked, and the recent LH (lower high) indicates that the hype will decline in the short term.
• Holders can take profits here, as the liquidation after such a rise can be significant, and they can buy more during consolidation.

Long-term Analysis

• Due to the clear descending triangle being broken, PAAL has exceeded the scope of technical analysis.

• Recent price action has exceeded expectations by 3 times, with long-term potential for 20 - 30 times.

ARC (ARC)

Short-term Analysis

• The price has broken through the descending wedge pattern, replicating previous price action to reach ATH.
• The current breakout price target should be close to the previous level of around 7 cents.

Long-term Analysis

• ARC is an early project in the AI field, but it has created HH (higher highs) and HL (higher lows) throughout the process.
• If external factors remain unchanged, ARC will rise to 30 cents by 2024.

NeurAI Project (XNA)

XNA is a relatively new project in the field, with only 3 months of history.

• Before going long on XNA, the resistance level of $0.0035 needs to be broken through.
• A successful breakout will bring the price closer to the $0.01 level in the long term.

Oraichain (ORAI)

Short-term Analysis

• The S/R (support and resistance) level was broken after reaching a one-year high of 8.5, losing support around $8 since January.
• Today's breakout and a 15% rise is a good signal for regaining support for further price increases.

Long-term Analysis

• After ORAI broke $8.1, it formed a cup and handle pattern (Note: a continuation pattern), with a target price of $14.
• The price needs to hold the neckline to avoid invalidating the pattern.