Top 3 Artificial Intelligence (AI) Coins of the Fourth Week of June 2024

4 months ago 2

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The Artificial Intelligence (AI) landscape is vast and continues to grow. As a result, every week, a new token emerges, performing better than all the others. For the fourth and final week of June, it happens to be Matrix AI Network (MAN), LimeWire (LMWR), and PAAL AI (PAAL).

The biggest news of the week, on the other hand, is the collaboration between Google and Gemini. Announced during the Google I/O 2024 Conference on Tuesday, the collaboration will introduce a Gemini AI side panel in Gmail that will assist users in writing emails and summarizing threads.

This feature is expected to be rolled out to all of Google’s products, including Docs, Sheets, Drive, and Slides.

MAN Did Not Fail to Impress

Matrix AI Network (MAN) price had a pretty good run this past week, rising by more than 40% in the span of a week. The AI token bounced back from the critical support at $0.027 to change hands at $0.041 at the time of writing.

The sharp increase also revived investor bullishness, which was visible in the increasingly intense bullish crossover noted on the Moving Average Convergence Divergence (MACD) indicator. The rising green bars on the indicator highlight a continued increase in the future.

The MAN price could reach $0.050, provided it can flip the resistance at $0.042 into a support floor. But if this fails and the altcoin slips below $0.037, a drawdown to $0.027 is likely.

LimeWire Has a Lot to Cover

While LimeWire’s price rose 36% this week, impressing investors, it has barely escaped the massive crash noted by the altcoin. Throughout May and June, LMWR fell by more than 77%, bringing the price down from $1.3 to $0.34.

The Artificial Intelligence token is currently trading at $0.40, and it seems to be on the path to recovery. However, the altcoin would need to breach two crucial resistances at $0.49 and $0.64.

Once these are flipped into support, the altcoin could rise back up to $0.80 and regain about half of the profits it lost.

But the rise could take a while, and if the hype around LMWR fizzles out in a few days, this could become significantly difficult. Failure to breach $0.49 could result in consolidation, invalidating the bullish thesis.

Good Job PAAL

PAAL AI (PAAL) witnessed a 22% rise over the past week as the altcoin inched close to the barrier at $0.30. Trading at $0.27, PAAL could take a shot at reclaiming the losses noted since mid-May to the last week.

In order to completely recover the lost gains, the altcoin would need to chart a rise to $0.51. This resistance level also happens to be the critical barrier for PAAL, as the altcoin has failed to breach it twice in the last two months.

A successful breach would enable a rally for PAAL AI, but if the Artificial Intelligence token loses momentum before then, the rise could halt mid-way. The likely decline will bring PAAL back to the support at $0.21, and losing it could invalidate the bullish thesis altogether.

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