August Sees INJ Surge by 85 According to Technical Analysis ALGTs Listing May Propel it Further
After coming close to reaching the $60k mark, the price of BTC has sparked optimism in the market. Investors are now turning their attention away from traditional cryptocurrencies and towards altcoins that are relevant to specific industries, particularly those related to artificial intelligence (AI). This shift in sentiment is evident from the 3.3% increase in the market value of the AI crypto sector.
One altcoin that has caught the attention of investors is Injective (INJ), thanks to its growing adoption and ongoing developments. This sets the stage for significant price gains. Despite the sideways movement in the market, the AI sector is expected to play a substantial role in the success of Injective (INJ) by August 2024.
The trajectory of the BTC price has brought optimism to the broader altcoin sector, especially AI cryptos. Injective (INJ) is a standout crypto in this regard, as it has entered a bullish zone after a brief consolidation phase. The rising transactional volume of the INJ token indicates investors’ growing interest in its promising prospects.
In the broader market analysis, a technical analysis conducted by UBS on NVIDIA is expected to boost AI altcoins. The predictions include a price target of $150 for the firm, driven by the demand for Blackwell rack-scale systems. Furthermore, the AI sector is set to increase revenue and technological advancements, with the updated EPS guide for 2025. These factors will contribute to Injective (INJ) reaching higher price levels.
Based on technical indicators, Injective (INJ) follows the trend of the BTC price, experiencing a 3.1% increase 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 its previous threshold at $37 in the next few weeks. This would represent an 85% increase in value for Injective (INJ).
Algotech (ALGT) is gearing up to showcase its strength after raising over $9.4 million in the bonus round of the public presale. Algotech aims to enhance trading dynamics with its algorithmic platform powered by artificial intelligence and machine learning. It offers powerful trading tools to large traders, improving and streamlining the trading experience.
With algorithmic trading strategies and advanced risk management tools, Algotech provides various mechanisms for deploying effective approaches to different market conditions, resulting in higher returns and reduced risks. The platform prioritizes transparency and security in all transactions, granting governance rights to token holders.
Users can leverage Algotech’s decentralized marketplace to effectively manage and optimize their investments with real-time market analytics. The deflationary ERC-20 token standard and industry-relevant features set Algotech apart from other cryptocurrencies.
Bitmart has announced the listing of Algotech (ALGT), which has further fueled the bullish momentum of the presale rally. Investors are rushing to acquire ALGT tokens at low entry points following the confirmation of Bitmart’s listing. The pre-launch announcement by major exchanges can significantly increase the demand for Algotech in a competitive market.
After selling 92% of ALGT tokens, Algotech’s AI platform is now the center of attention. The presale is entering the next stage, with the price jumping from $0.08 to $0.15. This presents a unique opportunity for investors to take advantage of the low-entry point of ALGT tokens and potentially enjoy even higher gains than with Injective (INJ) in the coming months.
To learn more about Algotech and participate in the presale, visit their website and join the Algotech community.
