Top 3 AI tokens to watch as Perplexity offers $34.5 billion for Google Chrome

• Bittensor inches closer to $400 after an 8% jump on Tuesday. 
• Near Protocol bounces off the 50-day EMA, targeting the 200-day EMA breakout rally.
• Render approaches a crucial resistance trendline as buying pressure increases. 

Artificial Intelligence (AI) tokens are back in the trend underpinned by the altcoins market recovery and Perplexity’s $34.5 billion longshot offer for Google Chrome on Tuesday. Bittensor (TAO), Near Protocol (NEAR), and Render (RNDR) are leading the gains among the top AI tokens, backed by optimistic technical outlooks suggesting further gains. 

Perplexity has made the eye-popping offer to Google, as the US Department of Justice (DOJ) pursues a legal case over the alleged illegal monopoly of Google Chrome over the search engine market. Amid the US DOJ's demands to sell off the Chrome browser, Perplexity's eyes are set on gaining market share and boosting its AI-powered browser, Comet. 

Bittensor nears the crucial crossroad at $400

Bittensor remains muted so far on Wednesday, following its 8.94% gains from the previous day. The AI token holds the ground at the 50% retracement level at $361, drawn from the $712 peak on December 8 to the $183 low on April 6. 

The bounceback in TAO struggles to reclaim the $400 level, while bulls target the 61.8% Fibonacci level at $424. A decisive close above the psychological level could extend the recovery run.

The Moving Average Convergence Divergence (MACD) maintains an uptrend after crossing above its signal line on Sunday and flashing a buy signal. This indicates steady bullish momentum supporting the upside chances. 

The Relative Strength Index (RSI) reads 53 on the daily chart, indicating the buying pressure holds above the neutral level. 

TAO/USDT daily price chart.

Looking down, the AI tokens could retest the $361 support level if the supply pressure remains dominant at $400. 

Near Protocol targets the 200-day EMA breakout

Near Protocol edges higher by nearly 2% at press time on Wednesday, following the 7% rise on Tuesday, extending the bounce back from the 50-day Exponential Moving Average (EMA) at $2.59. The recovery run in NEAR targets the 200-day EMA at $2.96 as the immediate resistance. 

A decisive push above this dynamic line could reclaim the $3.00 level, potentially extending the rally to test the 50% retracement level at $3.87, which is retraced from $8.24 on December 6 to $1.82 on April 9. 

A bullish tilt is evident in the momentum indicator, enhancing recovery chances, as the RSI at 57 indicates rising buying pressure, and the MACD has crossed above its signal line. 

NEAR/USDT daily price chart.

On the flip side, a close below the 50-day EMA at $2.59 could extend the decline to $2.14 support, last tested on July 8. 

Render could face opposition at a crucial resistance trendline

Render bounced back by 8% on Tuesday and extended the uptrend by 2% at the time of writing on Wednesday. The recovery in RENDER eyes the 200-day EMA at $4.30, moving closely with a resistance trendline formed by connecting the January 21 and May 10 closes. 

Investors could consider a decisive close above the 200-day EMA as a buying opportunity, potentially targeting the 50% retracement from the December 6 close of $10.47 and the March 10 close of $2.73, at $5.35. 

The momentum indicators support the optimistic viewpoint, as seen with previous AI tokens, with an RSI of 57 and an uptrending MACD and its signal line indicating rising bullish momentum.

RENDER/USDT daily price chart.

On the contrary, a reversal from the resistance trendline could retest the 50-day EMA at $3.82.