INJ Sees 85 Surge in August as per Technical Analysis ALGT May Witness Further Upside Following Listing
After racing towards the $60k mark, the BTC price has sparked a promising shift in the market, with investors now turning their attention to industry-specific altcoins, particularly AI cryptocurrencies. This sentiment change is evident in the 3.3% rise in the overall market value of the AI crypto sector.
One such altcoin that has emerged as a promising choice for investors is Injective (INJ), thanks to its increasing adoption and ongoing developments, which set the stage for significant price gains. Despite the sideways momentum, the growing AI sector is expected to contribute substantially to Injective (INJ)’s success by August 2024.
Injective (INJ) is now targeting the $37 support level, according to price predictions. The trajectory of the BTC price has created a wave of optimism for the broader altcoin sector, especially AI cryptos. Injective (INJ) is a prominent player in this space and has entered a bullish zone after a brief consolidation phase. The INJ token is gaining traction, as indicated by the rising transactional volume, as investors recognize its bright prospects.
In terms of market analysis, a technical analysis of NVIDIA by UBS is expected to boost AI altcoins, including Injective (INJ). The predictions include a price target of $150 for the firm, driven by the demand for Blackwell rack-scale systems. Furthermore, with the updated EPS guide for 2025, the AI sector is expected to see increased revenue and technological advancements, which will push Injective (INJ) to higher price levels.
Technical indicators suggest that Injective (INJ) is following the BTC price trend, with a 3.1% rise on the intraday chart. The Relative Strength Index (RSI) is below 50, indicating selling pressures for a short period as the value continues to rise. Simple and exponential moving averages provide a strong buy signal, suggesting that the token could reach the previous threshold at $37 within the next few weeks, resulting in an 85% value appreciation for Injective (INJ).
Moving on to Algotech (ALGT), the company aims to revolutionize trading dynamics with its algorithmic platform powered by artificial intelligence and machine learning. With over $9.4 million raised in the bonus round of the public presale, Algotech is making significant strides by providing powerful trading tools to large traders, enhancing and streamlining the trading experience.
Algotech offers diverse mechanisms for deploying effective trading strategies and cutting-edge risk management tools to navigate different market conditions for higher returns and minimized risks. The company is committed to a community-centric approach, ensuring transparency and security in all transactions by granting governance rights to token holders.
Users can leverage Algotech’s decentralized marketplace, which offers exciting features and real-time market analytics, to effectively manage and optimize their investments with up-to-the-minute information. The deflationary ERC-20 token standard sets Algotech apart from other cryptocurrencies, along with its industry-specific features.
Bitmart has announced the listing of Algotech (ALGT), one of the most promising DeFi altcoins. This listing has generated significant interest among investors, who are rushing to acquire ALGT tokens at low entry points. The pre-launch announcement by large-scale exchanges is expected to drive demand for Algotech in a competitive market.
With 92% of ALGT tokens already sold during the presale, Algotech’s AI platform has become the center of attention. As the presale enters the next stage, the price of ALGT tokens is set to jump from $0.08 to $0.15. This presents a unique opportunity for investors to take advantage of the low-entry point and potentially enjoy higher gains than those offered by Injective (INJ) in the coming months.
To learn more about Algotech and participate in the presale, visit their website and join the Algotech community.