After an impressive 90% rise yesterday, TruthGPT (TRUTH) is seeing a significant correction.
TRUTH is seeing a 23% price decline so far today, with its current price at $0.001635 having dipped below the 0.5 Fibonacci level of $0.001754.
The 4 hour 20 EMA sits at $0.001561, a price level that was retested earlier in the day when TRUTH posted an intraday low of $0.001554.
This price action may indicate that the 20 4 hour EMA is acting as a short-term support area for the cryptocurrency, making it an immediate level to watch.
TRUTH Price correction: temporary setback or start of a downward trend?
Meanwhile, the Relative Strength Index (RSI) it is currently at 53.64. This value suggests that TRUTH is neither in overbought nor oversold territory, suggesting that the current move lower could be a healthy correction after yesterday’s big move, rather than the start of a larger downtrend. .
Also, the MACD histogram sits at -0.00003952. The MACD is a trend-following momentum indicator that reveals the connection between two moving averages of an asset’s price. Negative MACD histogram can indicate bearish momentum.
However, it also suggests that the sellers could be losing steam, given their position closer to the zero line.
The 24-hour trading volume for TRUTH is relatively low at $45.87k, indicating less trading activity.
This could indicate a lack of conviction in the current price movement, and traders should watch for any substantial changes in volume that could signal a new trend.
Upside Potential: Key Breakout And Resistance Levels For TRUTH Token
Traders should monitor the key resistance at the 0.5 Fib level at $0.001754. A break above this price level could suggest a possible resumption of the uptrend.
On the downside, immediate support lies at the 4-hour 20 EMA at $0.001561, followed by the 0.618 Fib level at $0.001477.
While the short-term outlook for TRUTH appears somewhat bearish given the recent price decline, key technical indicators suggest this may be a temporary pullback.
With the RSI in a neutral position and the 20 4-hour EMA acting as immediate support, the possibility of a price reversal cannot be ruled out.
Traders are advised to keep a close eye on these technical levels while considering changes in trading volume to gain more conviction in their trading decisions.
While the recent rise and subsequent correction in TRUTH have been a hot topic among traders, there are another crypto project that is drawing attention also in the field of artificial intelligence: yPredict.
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yPredict’s upward trajectory and notable initiatives
YPredict is stepping up its efforts to develop new products, and one of its latest successes is the Backlink Estimator, the company’s first feature to harness the power of artificial intelligence.
During the initial preview, this tool aroused the interest of more than 5,000 users within the first day.
Drawing on a dataset of over 100 million links, this feature seeks to offer accurate predictions of the backlink profile required for a particular URL to rank for a specific keyword.
Such high demand led the team to establish a new pricing scheme of $99/query. However, early pre-sale entrants will still reap the benefits of unrestricted use of the Backlink Estimator and potential access to future tools.
Investors are eagerly awaiting the release of Alt_Pump_001, an AI model that is expected to predict the next rise of altcoins.
Despite its established reputation for developing an AI-assisted crypto price prediction and analysis platform, yPredict has been creating waves with its plans for a content solution for sizeable content teams.
The yPredict editor, according to the project websitewill be available soon.
The $YPRED Token: A Featured AI Utility Coin In The Works?
Some industry observers see yPredict’s $YPRED crypto token as a market-leading AI utility coin, courtesy of the multitude of AI use cases that yPredict’s platform will address.
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As interest in AI-related cryptocurrencies growsand innovators like Elon Musk are entering the fray with their own companies, 2023 is shaping up to be a significant year for AI presales.
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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 your capital.
