Nvidia's Stock Faces Bearish Signal, AI Tokens Remain Unaffected

According to Odaily, market data platform Barchart has analyzed that AI token traders often focus on chip giant Nvidia. Recently, Nvidia's stock has experienced a 'death cross' for the first time since April 2022, where the 50-day moving average falls below the 200-day moving average. The last occurrence of this pattern led to a 47% drop in Nvidia's stock over the following six months. Despite this bearish signal for Nvidia this week, AI tokens have not been impacted. Render (RNDR) saw a 4.06% increase, while Bittensor (TAO) and Artificial Superintelligence Alliance (FET) both rose by approximately 2.88%. Analysts suggest that Nvidia's stock price has sometimes shown no significant correlation with AI token price trends. For instance, in the first quarter of last year, Nvidia's revenue grew by 18%, yet this strong performance did not lead to a similar trend in AI token prices. Some cryptocurrency traders believe that only AI tokens with genuine utility will thrive in the future.