As GOLD Token Shoots Up 28,000%, This Viral New AI Coin Just Raised More Than $3.9 Million – 5-Day Countdown Begins
The newly listed GOLD Token has seen a parabolic move so far, skyrocketing over 28,000% from its listing price just yesterday.
After reaching an intraday high of $0.3225, the GOLD Token price has pulled back but remains up substantially.
As traders look for potential buy zone entry levels, the key moving averages on the 5-minute chart provide immediate resistance levels to watch.
GOLD Token Price Prediction and Technical Analysis: EMAs Are Capping Further Upside For Now
The 10 EMA on the 5-minute chart currently sits at $0.1937, acting as the first layer of resistance for the GOLD Token price.
Further above that, the 20 EMA at $0.1935 and the 50 EMA at $0.1927 are the next key exponential moving averages capping the upside for now.
With GOLD Token trading below these EMAs, the price action is indicating continued prevailing selling pressure at these levels presently.
Traders looking to enter new long positions or add to existing ones should look to buy on pullbacks toward support.
The moving averages can be used as areas to potentially take some profits on long positions as well. Meanwhile, a decisive break above the EMA levels would signal resuming strength.
Oversold RSI Provides Buying Opportunities
The RSI on the 5-minute timeframe is currently at 48.35, staying below the overbought zone of over 70. This shows GOLD Token price is not overextended to the upside for now and implies potential for further gains.
The RSI dipping back below 50 reflects the recent retracement as well and provides opportunities to buy the dip. With the RSI not overheated, buyers can look to accumulate on pullbacks with upside potential still intact.
Watch For Support Around $0.1673-$0.1782
If the selling pressure persists and the GOLD Token continues falling from the EMA resistance, the zone between $0.1673 to $0.1782 is the first area of support to watch. This area lines up with previous price action and could attract buying interest.
An even deeper retracement could see the price drop toward the support between $0.1336 to $0.1549. Aggressive traders can look to buy the dip around these support levels.
The technical indicators reveal that the GOLD Token remains in an uptrend but faces resistance at the lower timeframes for now.
While the upside potential exists with RSI not overheated, the price action needs to decisively overcome the EMA resistances to signal additional strength.
Until then, cautious traders may look to take profits around the EMA resistance. If the selling pressure continues, the identified support zones could attract buyers looking for discount entries.
With both risks and opportunities present, traders should trade the levels with a balanced approach as the GOLD Token price consolidates from its powerful rally.
As the unpredictability of crypto is highlighted by the GOLD token’s sharp climb, traders seek tools to better anticipate market moves.
yPredict strives to provide this by merging statistical methods with AI for accurate price modeling.
Having raised close to $4 million in its presale already, yPredict builds towards furnishing traders with advanced data-driven forecasts.
AI Crypto yPredict Secures Nearly $4 Million in Crypto Presale
A crypto presale by yPredict recently secured close to $4 million, signaling a strong interest in its AI crypto offerings focused on price prediction. The funding will be used to refine how cryptocurrency traders engage with the market.
We #yPredict are thrilled to be a first AI ecosystem using AI for crypto analytics. With our successful $3.88M presale, we're building models combining ARIMA & LSTM to make accurate Bitcoin & Ethereum price forecasts.— yPredict.ai (@yPredict_ai) September 19, 2023
Our subscription marketplace will connect quant analysts &… pic.twitter.com/73zjPdrhRb
By employing advanced artificial intelligence models, yPredict’s goal is to offer reliable future price estimates for a range of digital currencies.
The platform’s approach involves a blend of statistical methods and advanced AI techniques.
Specifically, yPredict uses the ARIMA model, a statistical method with roots in the 1970s, alongside Long Short-Term Memory (LSTM) neural networks.
How AI Crypto Models by yPredict Impact the Market
The new crypto coin developed by yPredict serves multiple purposes for different market players.
Traders can use these AI models to validate their market analyses, identify promising cryptocurrencies, and potentially gain an edge over the market.
In a market known for its volatility, these price prediction models offer a reliable alternative to traditional market analysis methods.
The platform will extend its model access to a wide range of professionals including market analysts, quantitative researchers, and software engineers.
These experts can then adapt the models to fit their specific needs. Subsequently, these modified models can be offered to traders via the yPredict marketplace, based on a subscription model.
Future Roadmap and Introduction of WriteMingle
By year’s end, yPredict plans to launch a beta version of its marketplace, complete with a trading terminal.
According to the company’s white paper, plans are underway to expand the data science team and refine their predictive models in the coming months.
Additionally, payments for yPredict’s services will be made using its own cryptocurrency, $YPRED, which could see increased demand as the platform gains more users.
🌟 Exclusive WriteMingle Beta Test Program Invitation for YPRED Presale Buyers: Secure Your Early Bird Lifetime Subscription! 🌟— yPredict.ai (@yPredict_ai) September 1, 2023
Dear Valued YPRED Presale Investors,
We're excited to extend an exclusive invitation to you, our esteemed YPRED presale buyers, to be part of a… pic.twitter.com/alllGVvpbj
Alongside its AI crypto services, yPredict has announced the beta release of WriteMingle, a tool to simplify content creation and collaboration processes.
WriteMingle focuses on streamlining content creation workflows by offering features like intelligent content generation, plagiarism detection, and search engine optimization.
To take part in the beta testing of WriteMingle, one needs to be involved in the $YPRED token presale.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.