Crypto News– Supporters of cryptocurrencies known as TRUTH Crypto and Elon Musk AI Token are currently facing legal action in multiple states, including Texas, as regulatory authorities strive to quell what they perceive as fraudulent activities capitalizing on the growing discourse surrounding artificial intelligence.
Texas authorities have taken a firm stance, alleging that these cryptocurrencies are a critical component of a broader ‘fraudulent securities scheme.’ The scheme is purportedly orchestrated by various entities, including individuals such as Horatiu Charlie Caragaceanu, who hails from San Francisco, and The Shark of Wall Street.
The issuers of these TRUTH Crypto make ambitious claims, asserting that they possess an artificial intelligence and machine learning prediction algorithm developed by none other than Elon Musk himself. According to their narrative, this algorithm has the remarkable capability to unveil highly profitable investment opportunities within the realm of cryptocurrencies. In addition to these claims, they express intentions to take their respective companies public, adding an extra layer of allure to their offerings.
Joe Rotunda, the director of the Enforcement Division at the Texas State Securities Board, has been vocal about these developments. In an interview, he characterized these tokens as the latest iteration of unscrupulous actors attempting to profit at the expense of unsuspecting investors. These actors rely on leveraging popular buzzwords and well-known personalities to establish a façade of credibility and appeal. Rotunda further underscored the manipulative nature of this endeavor, highlighting its exploitation of prevailing popularity and market trends to deceive and entrap individuals.
TRUTH Crypto’s Breakout Thresholds and Significant Resistance Points
Traders should maintain a vigilant watch over critical resistance levels, notably focusing on the Fibonacci 0.5 level positioned at $0.001754. A successful breach above this price threshold may indicate a potential resurgence of the upward trend.
On the flip side, immediate support can be identified at the 4-hour 20 EMA, located at $0.001561, followed by the Fibonacci 0.618 level at $0.001477.
Although TRUTH Token’s short-term outlook appears somewhat bearish due to recent price retracement, key technical indicators hint at the possibility of a temporary pullback.
With the Relative Strength Index (RSI) hovering in a neutral position and the 4-hour 20 EMA serving as a nearby support level, there exists the potential for a price reversal in the near term.
Traders are strongly encouraged to closely monitor these critical technical levels and, in tandem, keep an eye on shifts in trading volume to strengthen the conviction behind their trading decisions.
While TRUTH Crypto‘s recent surge and subsequent correction have garnered significant attention among traders, there’s another noteworthy crypto project making strides in the artificial intelligence domain: yPredict.
yPredict’s Rising Trajectory and Noteworthy Initiatives
YPredict is intensifying its endeavors to innovate and introduce new products, with one of its recent milestones being the development of the Backlink Estimator – the company’s inaugural feature harnessing the capabilities of artificial intelligence. The initial preview of this tool elicited significant interest, with more than 5,000 users expressing their curiosity within the first day.
Leveraging a vast dataset comprising over 100 million links, this feature is designed to provide precise predictions regarding the backlink profile necessary for a given URL to achieve a prominent ranking for a specific keyword.
The substantial demand witnessed during the initial phase has led the team to introduce a novel pricing structure, with each query now priced at $99. However, early adopters and participants in the presale will continue to enjoy unrestricted access to the Backlink Estimator, along with the promise of future tool accessibility.
Investors and enthusiasts are eagerly anticipating the launch of Alt_Pump_001, an artificial intelligence model anticipated to forecast forthcoming surges in alternative cryptocurrencies.
Notably, while yPredict has already established itself as a reputable developer of AI-powered cryptocurrency price prediction and analytics solutions, the project has been generating excitement by hinting at a content solution tailored for sizable content teams.
The yPredict editor, as per the project’s website, is slated to become available in the near future.
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