The Key Takeaways
The FLOCK token is up by more than triple-digits in the last few days. The FLOCK token flashed overbought signals that led to pullbacks between April and Juni. It’s time to cool off a little.
Flock [FLOCK] The AI token has risen by 140% over the past seven days due to the renewed interest of the market in decentralized AI, and crypto-treasury.
As the market sluggishly recovers from Monday’s lows, it is likely that this will be the case. Bitcoin [BTC] Altcoins grew by 49% when they retreated. Hence, the question – What’s really driving the rally?
Positive fundamentals of FLOCK
Flock AI is winning on one differentiated front – Future and privacy-first AI programs will need user-owned training, rather than centralized AI models.
It is interesting to note that the model of decentralized AI-training being promoted by this company is called “not your models, not your AI,” Comparing self-custodial bank accounts and wallets “not your keys, not your coins.”
Flock also has several high-profile partnerships including Alibaba Cloud. It’s true that Monday’s surge of 49% was followed by a collaboration HKGAI is the Hong Kong AI agency.
Crypto-treasury firms are also showing an interest. This is the latest development. partnership CIMG wants to use Flock as a training tool for its AI-based wellness system and the native FLOCK token will be used by the company’s reserve treasury.
Flock said that this was a departure from the traditional crypto companies who chase speculation.
“This reflects a shift toward utility-first digital asset treasuries, where tokens are acquired not for speculative purposes but to support onchain products and services that generate long-term value for shareholders.”
It is easy to see that the recent surge in interest and fundamentals of this project was due to its great market potential.
The rally can it be extended?
FLOCK seemed to have the potential for a modest growth before it could cool off.
On the daily charts, the RSI hit the overbought zone – A condition that preceded past cool-offs in April and June.
TradingView: Source: FLOCK/USDT
The $0.32 local high could serve as an important buying and supporting level with a bullish immediate target of the $0.50 trendline resistance.
The idea above was reinforced from a point of liquidity. CoinGlass shows that liquidity pools and prices magnets exist at $0.40 and $0.45.
CoinGlass
FLOCK is currently on the rise due to its AI decentralized training models. The demand for FLOCK could be pushed higher by crypto treasuries.
The price chart suggested, in the near-term, that the huge rally might be primed to cool off for a short time before continuing.
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Source: ambcrypto.com
