The NVIDIA Conference, a leading AI event, ended on March 21, revealing advancements in artificial intelligence. Despite this, AI token prices remained stagnant, OCEAN being the exception.
Nevertheless, The Graph shows promising price action for the future, prompting the question: Can GRT return to $1 for the first time since 2021?
๐ก๐ฉ๐๐๐๐ ๐๐ผ๐ป๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ ๐๐ผ๐บ๐ฒ๐ ๐๐ผ ๐ฎ๐ป ๐๐ป๐ฑ
The NVIDIA GTC conferenceย ย took place between March 17 and 21. The GTC conference is considered the top AI Conference for developers.
There were severalย new announcementsย ย at the conference. The most important were:
โพ OpenUSD Omniverse digital twins will be integrated into the Apple Vision Pro.
โพ Earth-2, a digital twin of Earth, which will predict extreme weather using AI is under development.
โพ Nvidia unveiled robots powered by Nvidia technology, including one resembling WALL-E from Disney Research.
โพ AI-driven digital twins for warehouse operations and simulated 3D environments with AI agents were showcased.
โพ Inference Microservices (NIMs) were introduced as a new approach to accelerate generative AI model deployment, reducing deployment time from weeks to minutes.
โพ Nvidia announced leveraging AI for drug discovery with BioNeMo NIMs.
๐๐ ๐๐ฎ๐๐ธ๐ฒ๐ ๐จ๐ป๐ฑ๐ฒ๐ฟ๐ฝ๐ฒ๐ฟ๐ณ๐ผ๐ฟ๐บ๐
Interestingly, the conference did not drive customers to AI tokens. In fact, a basket of seven of the biggest tokens currently trades at the same price it did at the morning of March 17, the day the conference started.
Since there was a considerable increase before the conference, it is possible that anticipation for the event led to increased interest, but the lack of announcements regarding cryptocurrencies failed to boost prices.
FET and NEAR have been the biggest gainers with over 70% increases, followed by AGIX, RNDR, OCEAN and GRT. TAO is the only one with a negative performance, since it has fallen 4%.
๐๐ฏ๐ต๐ฆ๐ณ๐ฆ๐ด๐ต๐ช๐ฏ๐จ๐ญ๐บ, ๐๐๐๐๐ ๐ช๐ด ๐ต๐ฉ๐ฆ ๐ฐ๐ฏ๐ญ๐บ ๐ฐ๐ฏ๐ฆ ๐ธ๐ช๐ต๐ฉ ๐ข ๐ฑ๐ฐ๐ด๐ช๐ต๐ช๐ท๐ฆ ๐ฑ๐ฆ๐ณ๐ง๐ฐ๐ณ๐ฎ๐ข๐ฏ๐ค๐ฆ ๐ด๐ช๐ฏ๐ค๐ฆ ๐ต๐ฉ๐ฆ ๐ค๐ฐ๐ฏ๐ง๐ฆ๐ณ๐ฆ๐ฏ๐ค๐ฆ ๐ด๐ต๐ข๐ณ๐ต๐ฆ๐ฅ.
Out of the seven cryptocurrencies, GRT seems to have the most interesting formation that could lead to significant gains ahead.
๐๐ฎ๐ป ๐๐ฅ๐ง ๐ฅ๐ฒ๐ฎ๐ฐ๐ต $๐ญ ๐ฆ๐ผ๐ผ๐ป?
The GRT priceย has increased rapidly since breaking out from a long-term descending resistance trend line in November 2023. The upward movement led to a high of $0.49 in March 2024.
The price action shows to additional bullish signs, namely a breakout from the $0.30 horizontal resistance area and an ascending parallel channel (green icon). Both are a sign that GRT has finished its correction and started a bullish trend.
๐๐ ๐๐ฟ๐๐ฝ๐๐ผ๐ฐ๐๐ฟ๐ฟ๐ฒ๐ป๐ฐ๐ถ๐ฒ๐ ๐ฃ๐ฒ๐ฟ๐ณ๐ผ๐ฟ๐บ ๐ช๐ฒ๐น๐น ๐ถ๐ป ๐ ๐ฎ๐ฟ๐ฐ๐ต
Even though the basket of AI tokens did not enjoy increases during the NVIDIA conference, it has performed admirably since the beginning of March, with the exception of TAO. GRTโs price action shows an advantageous position that can lead to considerable increases in April.
