Swarms (SWARMS), a lesser-known crypto-focused AI token, has caught attention of market analyst CryptoBull, who believes that the cryptocurrency could witness a huge price spike in the coming weeks. SWARMS is a cryptocurrency powering that the Swarm network, a decentralized platform built on Solana, which leverages AI technologies and LLMs (Large Language Models) to enhance how enterprises operate their business activities.
According to observations disclosed by the analyst, the SWARMS market is heating up and preparing to explode, a development that deserves attention among savvy crypto traders and investors.
Why Swarms is on the Verge of a Breakout
Swarms has been experiencing market difficulties over several recent weeks. Despite that, things are beginning to change. As reported by CoinGecko data, Swarms has been down 4.9% and 16.6% over the past week and month, respectively, showcasing its market slump. However, today the asset recorded an 8.8% rise over the past 24 hours, making its price currently trade at $0.01212, showing that users are starting to show enthusiasm in the Swarms platform, with buyers entering the market with rising accumulations.
Another major indicator pointing out that the token is gaining strength is the market observation revealed today by the analyst. As per the analyst, a falling wedge pattern is forming on the asset, indicating a developing strong bullish momentum. According to the analyst, the asset is displaying a falling wedge breakout and appears to be preparing to rally towards the $0.0400 target, which is an upcoming 230% spike.
As indicated in the SWARMS’ chart, the asset is trading in a falling wedge. SWARMS’ price moves lower, though in a decreasing range, signaling a looming bullish reversal. While the highs are falling, the lows are also moving in a downward direction. However, the slant of the lower highs is greater than the lower lows, an indicator that selling pressure is decreasing as buyers are entering the market and silently and slowly bolstering prices up.
Swarms Lead in Social and Network Activity
SWARMS’ upcoming breakout from market declines is further confirmed by Santiment’s data, which shows that the asset is among the top 10 AI and big data crypto platforms that currently lead in terms of innovations in the larger crypto landscape. According to data released today by Santiment, Filecoin (FLM), Chainlink (LINK), Internet Computer (ICP), Near Protocol (NEAR), Oasis Protocol (ROSS), Livepeer (LPT), Swarms (SWARMS), the Graph (GRT), Flux (FLUX), and Aleph.im (ALEPH) are the top 10 crypto projects that tipped in network developments over the last 30 days, an indicator of their network growth to serve an advanced user experience.
Furthermore, data from Lunarcrush dated late last week Friday identified SWARMS as among the top 10 DeFAI projects that lead in social user engagements, meaning the asset is significantly gaining user interest.
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