Altcoin
Could AI altcoins see a boost when OpenAI’s new model goes live?
- With OpenAI’s new model on the horizon, some altcoins are likely to outperform.
- Investors can refer to the AI sector of altcoins to maximize earnings.
- Worldcoin and TokenFi could continue to outperform their competitors.
The artificial intelligence (AI) company OpenAI announced began training its new Frontier model on Tuesday.
OpenAI recently began training its next frontier model, and we expect the resulting systems will take us to the next level of capability on our journey to AGI.”
This news, combined with rumors that the GPT-5 (Generative Pre-trained Transformer) has already been trained, suggests that the release of the next model is not too far away.
Since people are now seriously starting to say that the new model that OpenAI says to start training is GPT-5, here’s the reference again.
GPT-5 had already been tested by the red team in April. The training has long been completed.
What has now been started in training… https://t.co/vIwa3DuhYz— Chubby♨️ (@kimmonismus) May 28, 2024
Some cryptocurrency sectors tend to be influenced by developments in the field of artificial intelligence. For example, GPU company Nvidia’s earnings have played a key role in the performance of some AI-based altcoins. Likewise, the release of the highly anticipated GPT-5 model could trigger a similar rally in the AI category of altcoins.
To know more: AI, Meme Coins, and Prediction Market Tokens Fly Ahead of Ethereum ETF Decision
AI cheat sheet for GPT-5 version
Below are the performance of some AI-based altcoins. TokenFi (TOKEN) is a clear winner, with a gain of 37% over the past seven days. The earnings of other cryptocurrencies are tiny and cannot be compared to TOKEN.
Altcoin AI Performance
Regardless of their performance over the past seven days, here are two tokens that could see a huge boost in the coming days.
- Token (TOKEN), because of the momentum it has.
- World currency (WLD), thanks to its connection with OpenAi, aka Sam Altman.
To know more: Worldcoin price could rise 20% if Nvidia earnings beat estimates
Let’s understand where the TokenFi price could go.
The 12-hour chart for TOKEN shows that it is at a critical point in its bullish path. So far, TokenFi price has risen 42% over the past two weeks and is currently retesting $0.161, the midpoint of the range from $0.0762 to $0.246. Furthermore, this level coincides with the high volume of the volume profile node. This indicator tracks the distribution of trading volume across different price levels and can be interpreted as locations of high and low volume nodes. The former can act as a support or resistance level depending on the relative position of the price. The latter, however, are seen as pockets of liquidity that act as buy zones and attract price reversals.
Going forward, in case of rejection at the key barrier of $0.161, investors can expect TOKEN to retest the $0.135 and $0.129 support levels. This 15% correction can be a good accumulation opportunity for long-term and sidelined investors. The Relative Strength Index (RSI) is hovering in the overbought zone and supports the potential pullback. However, investors should note that there are no short-term sell signals to support this correction.
Regardless, if the aforementioned pullback occurs, TokenFi could stabilize around the above-mentioned levels. Subsequently, a bounce could see TOKEN attempt a retest of the 62% retracement level at $0.181, which coincides with the high-volume node of the volume profile, making it a good level to book profits, at least for swing traders.
TOKEN/USDT 12-hour chart
On the other hand, if TokenFi price fails to bounce around the $0.135 and $0.129 levels, this could denote weakness among buyers. In that case, TOKEN bulls may have a chance to form a base around $0.110, which is called the Point of Control (POC) and is the highest traded volume level for the selected range, according to the profile indicator of volume.
A break of the $0.110 level would create a clear break in the market structure producing a low lower than the May 23 low of $0.108. Such a devastating move would invalidate the bullish thesis and could trigger a further 30% correction to $0.0762.