3 AI Cryptos To Watch Out Amid The Broader Market Recovery?

• 1 Fetch.ai has successfully breached trendline resistance and is currently retracing to test the former resistance zone for support.
• 2 Both Ocean Protocol and SingularityNET are endeavoring to overcome their respective correction phases.

The prevailing positive sentiment in the cryptocurrency market is propelling altcoins beyond their recent downturns. Recently, the meme coins have shown a rally, leading to speculation that AI-focused cryptocurrencies might follow suit.

Additionally, Nvidia’s latest earnings report showcased a robust 18% revenue growth quarter-over-quarter, which may potentially catalyze a surge in AI-related cryptocurrencies.

Let’s analyze Fetch.ai, SingularityNET, and Ocean Protocol from a financial standpoint, and try to determine if they are poised for a breakout or if a further correction is on the horizon

Fetch.AI (FET)

Fetch.AI is pioneering an open-access, decentralized network for machine learning powered by artificial intelligence. It offers a crypto economy where secure data can be accessed without permissions, enabling the use of autonomous AI agents to perform tasks across its extensive data network.

Moreover, the daily chart reveals a breakout of a trendline resistance followed by a retest. On the higher side, if the bulls surpass the recent supply of $2.6, completing a retest, the crypto may head to conquer the annual high of $3.4 level. 

However, any closing below the 50 day exponential moving average and $2.25 level may invalidate the breakout and the correction may prevail again.

SingularityNET (AGIX)

SingularityNET stands out as a pioneering marketplace where developers can effortlessly market their AI solutions, and potential buyers have the opportunity to evaluate these AI services before finalizing a purchase.

Furthermore, the platform’s request for AI (RFAI) feature taps into a broad network of AI experts, enabling users to commission bespoke AI services. In turn, developers have the chance to fulfill these requests and be rewarded with AGIX tokens for their contributions.

At the time of writing, AGIX crypto was exchanging hands close to $0.98 reporting after an unsuccessful breakout of the prevailing correction phase. The rejection from the higher side indicates the presence of bears at the recent supply of $1. 

Now, until the price goes below $1 level, it may tend to maintain a correction phase and continue to decline.

Ocean Protocol (OCEAN)

Ocean Protocol facilitates the liberation of previously inaccessible or difficult-to-obtain data by enabling individuals with valuable datasets to tokenize and list them on the Ocean Market. 

This innovation creates a new revenue avenue for data providers and simultaneously grants access to high-quality data for scientists, researchers, data analysts, and others in search of dependable information.

From a price point of view, the OCEAN crypto has been hovering in a correction phase forming an ascending triangle pattern over the daily chart. The $1 level has been acting as an immediate resistance for the crypto which if broken may unlock the further movement on the higher side.