Analyst Ali Martinez has laid out bearish chart setups for the AI altcoins Venice Token (VVV), OriginTrail (TRAC), and AI Rig Complex (ARC) in an X thread, calling the sector \u201cin big trouble.\u201d<\/p>\n
According to him, the group is losing steam, and he pointed to the price levels that could set off the next sell-off, with each token sitting near a line whose loss could open a much deeper decline.<\/p>\n
For Venice Token, Martinez described<\/a> what appears to be a head-and-shoulders pattern, three peaks with the middle one highest, which traders often read as an uptrend running out of room.<\/p>\n Its neckline, the line joining the dips between the peaks, sits near $21. A four-hour close below it, meaning a four-hour candle finishing under that line, would confirm the bearish reversal and could send VVV to $13 or even $11.<\/p>\n TRAC appears to be trading inside a descending triangle, a shape where falling highs press down on a flat floor, here near $0.38. A four-hour close below that floor could trigger a deeper retracement to $0.26.<\/p>\n ARC has a different setup: a recent bounce from the bottom of its channel near $0.030, a channel being the band between two parallel trendlines, has carried it to the mid-range around $0.060, and a rejection there could send it back to $0.030.<\/p>\n That support needs to hold, because a daily close below it could open a slide to $0.014 or even $0.0075. \u201cThese are warning signals,\u201d the analyst concluded in the thread\u2019s final post.<\/p>\n CoinGecko data at the time of writing puts VVV at around $24, roughly 16% above its neckline, after a 30-day decline of over 18%. The token is about 29% below its September 21 all-time high of around $35, although it\u2019s still up some 1,500% from a year ago.<\/p>\n On its part, TRAC was trading at around $0.36, already beneath its $0.38 floor after reaching about $0.41 in the last 24 hours. Daily volume fell about 41% to $6.5 million, and the token is down 9.5% in the past week.<\/p>\n ARC, at around $0.06, is sitting right at the mid-range level where the analyst sees rejection risk. Its 44.5% weekly gain came as most altcoins finished lower, yet the token remains down 14.5% over the past month.<\/p>\n As CryptoPotato<\/em> reported earlier, BTC dropped<\/a> to a five-week low of $79,100 on Saturday before rebounding to around $81,000, and the total crypto market cap has slipped below $2.7 trillion. VVV had been rising before that: it traded near $25.70 on October 21 after a 12% weekly gain, and nordin.eth pointed<\/a> to the $21.50 to $22 zone as the area bulls needed to defend, just above the neckline on Martinez\u2019s chart.<\/p>\n The post Analyst Sets Downside Targets for 3 AI-Related Altcoins<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Analyst Ali Martinez has laid out bearish chart setups for the AI altcoins Venice Token (VVV), OriginTrail (TRAC), and AI Rig Complex (ARC) in an X thread, calling the sector \u201cin big trouble.\u201d According to him, the group is losing steam, and he pointed to the price levels that could set off the next sell-off, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-243984","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/243984"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=243984"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/243984\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=243984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=243984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=243984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Prices Already Sit Near Those Lines<\/h2>\n