Is It Too Late To Buy Tars AI? TAI Price Soars 15% As The Project Team Burns 100M TAI
The Tars AI price (TAI) has surged by 15% today as it attempts to break above the $0.224 resistance level. With TAI/USD currently trading at 0.186, the recent movements and technical indicators suggest a bullish outlook, highlighting key resistance and support levels crucial for traders to monitor.
This comes as Tars AI, one of the best-performing AI tokens today, highlighted its burn with a verifiable 100 million TAI Token burn by the team, currently worth over $15 million.
TARS has burned $15M+ worth of team tokens — 100M $TAI 🤖
→ Burn Highlights 🔥
◾100M $TAI burned
◽10% supply reduction
◾ Strengthening value and trust for $TAI holdersPlus, as previously announced, weekly $TAI burns will continue with revenue from the TARS Cloud… pic.twitter.com/FCAghgfrB1
— TARS AI 🤖 (@tarsprotocol) June 27, 2024
Additionally, the project has announced that the weekly TAI burns will continue with revenue from the TARS Cloud Program.
Notably, Tars AI has embraced Solana’s growth following VanEck’s filing for Solana ETF on June 27 in the United States. The TAI’s team has noted that the initiative is set to inject substantial liquidity into Solana’s rapidly growing ecosystem.
Furthermore, the Tars AI has noted via X that,
‘’ Our AI fund program targets the fastest-growing AI sectors, aligning perfectly with Solana’s upward trajectory.’’
TARS AI Embraces Solana's Growth! 🌞
VanEck, with $110B in assets, has filed for the first Solana ETF in the U.S., putting Solana in the spotlight for institutional investors.
This initiative is set to inject substantial liquidity into Solana's rapidly growing ecosystem.
Our… https://t.co/ZYZs05kuCl pic.twitter.com/w0YlSrNoiA
— TARS AI 🤖 (@tarsprotocol) June 28, 2024
TARS AI, formally known as Tars protocol, is a new project on Solana that aims to provide a bridge between artificial intelligence (AI) and Web3. This is done by facilitating a unified platform for AI-powered tools and services.
Additionally, Tars Protocol provides other utilities, including TARS Space, Smart SAFT, Claimer, and TARS Dashboard. These tools enable users to use Web3 token economies and manage their portfolios. Crypto users can create their own Web3 Brands through TARS Space and monetize their influence.
TAI Statistical Data
Based on Coinmarketcap data:
- TAI price now – $0.186
- TAI market cap – $23 million
- TAI total supply – 999 million
- TAI circulating supply – 124 million
- TAI ranking – #762
In a 4-hour chart analysis below, TAI is trading with a bullish bias within a rounding bottom channel. This hints at a continuation of a bullish trend, committing the coin to more gains.
The Tars AI price went on a downtrend from June 15, forming a rounding bottom pattern, with $0.0981 acting as the support level, which allowed the price of TAI to rise to the $0.224 resistance.
Moreover, the TAI price trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the general bullish sentiments. The $0.135 and $0.163 levels act as the immediate support levels, respectively, giving the bulls the upper hand.
The Relative Strength Index (RSI) also trades up as it hurtles towards the 70-overbought region, currently at 63. This indicates intense buying pressure from investors, therefore intensifying the bullish outlook.
The Moving Average Convergence Divergence (MACD) line also supports the general bullish prospects. The blue MACD line crosses above the orange signal line, representing a bullish crossover. A bullish crossover could encourage the bulls to buy more, with the green bars on the histogram showing that the price is on a positive momentum.
Tars AI Price Prediction
The Tars AI price analysis on the 4-hour chart shows the token is gearing up for a bullish stance, although there has been a slight retracement. The bulls aim to capitalize on the rounding bottom pattern to push the token up, targeting $0.2498. Increased bullish momentum could push the price past the TAI’s high of $0.280 to a new high (ATH) of $0.300 in the coming weeks.
However, if the bears take control of the price at this level, the price of TAI could retrace back to the support level of around $$0.0981, acting as a cushion against downward pressure.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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