Analyst Sets Downside Targets for 3 AI-Related Altcoins
Both VVV and TRAC need a 4-hour close below support to confirm the bearish read, while ARC needs a daily close below its price channel.
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 “in big trouble.”
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.
Where Each Chart Could Break
For Venice Token, Martinez described 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.
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.
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.
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.
That support needs to hold, because a daily close below it could open a slide to $0.014 or even $0.0075. “These are warning signals,” the analyst concluded in the thread’s final post.
Prices Already Sit Near Those Lines
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’s still up some 1,500% from a year ago.
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.
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.
As CryptoPotato reported earlier, BTC dropped 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 to the $21.50 to $22 zone as the area bulls needed to defend, just above the neckline on Martinez’s chart.