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The PaLM AI price surged 24% in the past 24 hours to trade at $0.6641 as of 05:22 a.m. EST on trading volume that surged 116% to $2.7 million.
This comes as AI-related tokens continue to surge, following last week’s stellar fourth-quarter results from AI chip maker Nvidia. The announcement boosted sentiment around the whole AI industry and it’s trickled down to AI-related crypto tokens.
#NVIDIA has a pretty good track record of beating earnings expectations.
We’ve seen a surge in #Ai development which should boost demand for graphics cards and GPU’s.
So my guess is they beat expectations once again. pic.twitter.com/QjvGPhuGK6
— Nick $WADZ🇺🇸🐉 (@Crypto_Viking11) February 21, 2024
Some of the biggest gainers include SingularityNET (AGIX) (up 27%), Fetch.ai (FET) (up 15%), and Render (RNDR) (up 13%).
Could the newfound interest in AI tokens drive the PALM price even higher?
PaLM Price Bullish, Trading Within A Rising Channel
Throughout February, the price of PaLM has been on a gradual upward trend. However, starting from February 20th, there has been a tug-of-war between the bulls and the bears, resulting in price fluctuations within a $0.5 range.
Despite this, the bulls have demonstrated resilience, pushing the price up within a rising channel pattern, but they faced resistance at the $0.78 mark. This led to a minor retracement to the support level at $0.62, yet the bulls have managed to maintain positive momentum.
PALM is currently trading above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a confirmation of the bullish momentum. Additionally, the 50-day SMA is trading above the 200-day SMA, which further supports the bullish prospects of the PALM price.
The Relative Strength Index (RSI) is trading around the 50-midline level at 53. With sustained bullish momentum, the RSI could soar to the overbought regions.
The Moving Average Convergence Divergence (MACD) coincides with the current slight retrace as the moving average line (blue) crosses below the signal line (orange). However, the MACD is trading above the neutral zone, signaling a rebound to the upside. The red bars on the histogram indicate an impending rebound, as they stretch slightly under the zero line.
Additionally, the Average Directional Index (ADX) is trading at 41, indicating that the current bullish trend is very strong.
PaLM price prediction
The PaLM price is on a bullish rally as it trades within the rising channel, and the bulls aim to retest the resistance at $0.78. This will breach the upper boundary of the rising channel, allowing the price to soar even higher.
However, the MACD represents a bearish crossover, which may open doors for investors to sell. This could lead to a price retrace to the $0.5728 support level, coinciding with the 50-day SMA.
Meanwhile, as the PALM price soars, investors who are looking for cryptos with supercharged potential are also exploring Scotty the AI, an AI-integrated project that analysts say has the potential to 10X on launch.
Scotty the AI Presale Races Towards $1 Million – Best Meme Coin To Buy Now?
Scotty the AI (SCOTTY) is poised to be a project providing different layers of AI innovation while transforming perceptions of security and fraud detection within the blockchain industry. The project has already established several features that are AI-powered to help the community while also providing utility to the meme coin.
This new Ai coin is set to explode when it launches.
Check out YouTube video below👇
Buy Presale herehttps://t.co/zRmy4g8hfWhttps://t.co/I24oqlAk5G@ClayBro883 #memecoin#bitcoin #Ai pic.twitter.com/QsZvv7aBnI
— Scotty The Ai (@ScottyThe_Ai) February 25, 2024
One feature is Scotty Swap, a platform facilitating seamless and rapid token exchanges. Additionally, there is ScottyChat, a chatbot that provides users with deep insights and analysis into the crypto markets, which gives them a perspective on trends.
With such innovations, the Scotty the AI presale, in its 7th round, has been gaining traction, already garnering $785,027 as it hurtles towards a target of $1 million.
💥Presale Update!💥
ScottyTheAi has raised $750k in early stages of presale
Congratulation to all the early #Scottydogs in presale.
Buy Now: https://t.co/zRmy4g8hfW #cryptocurrencies #Ethererum #binance $SCOTTY pic.twitter.com/7BIuSUfL8p
— Scotty The Ai (@ScottyThe_Ai) February 25, 2024
Investors have about nine days to buy $SCOTTY tokens at a discounted price of $0.00605 before a price hike.
Stake $SCOTTY, 145% Annual Rewards
Scotty the AI also has a staking option, where you can earn passively by staking your acquired $SCOTTY tokes for an impressive 145% annual percentage yield. The percentage will reduce as staking continues, which makes now the best time to buy and stake your tokens.
Crypto analyst and YouTuber Jacob Bury believes the unique combination of meme coin and AI power could drive the token to return gains of 10X on launch.
To participate in the presale, you can buy the tokens from the Scotty the AI official website and exchange ETH or USDT for $SCOTTY. You can also make purchases using your bank card.
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