AI Tokens Pull Back as Nvidia-Led Rally Loses Steam: RNDR, AKT, TAO, AGIX, FET

AI tokens like RNDR, AKT, TAO, FET, and AGIX are seeing a shift in momentum as the initial boost from Nvidia’s strong fourth-quarter earnings starts to fade. While these tokens initially surged after the earnings report, they have since pared back some of their recent gains amid uncertain market conditions, particularly with Bitcoin’s price showing indecision.

Nvidia’s earnings report exceeded market expectations, reinforcing the narrative around artificial intelligence (AI) and data-related cryptocurrencies. The release of OpenAI’s Sora tool had also previously sparked interest in AI crypto prices. However, the excitement surrounding Nvidia’s earnings seems to have led to a “sell the news” reaction among investors.

Despite the initial dip in prices, there has been renewed interest in buying the dip, leading to a resurgence in demand for AI tokens like RNDR, AKT, TAO, FET, and AGIX. These tokens have witnessed fluctuations, initially declining by 1% to 2% before bouncing back with gains of nearly 8% in the past 24 hours.

The price trend of Bitcoin, which remains indecisive around the $52,000 level, is also influencing the movement of AI tokens. If Bitcoin manages to break above $53,000 and establish support, it could pave the way for a further rally towards $60,000. Conversely, a rejection at $53,000 could lead to a decline towards the key support level of $50,000, potentially triggering a broader correction in both Bitcoin and AI token prices.

Leave a Reply

Your email address will not be published. Required fields are marked *