AI cryptos lag despite NVIDIA’s record Q2 | Credit: Veronica Cestari
Share
Key Takeaways
NVIDIA earnings beat expectations, but weaker data center performance slowed its stock.
TAO, NEAR, and FET remain bearish, each stuck in symmetrical triangles with weak indicators.
Unless buying pressure increases, these AI coins could drop further, technical analysis revealed.
On paper, the math makes sense. AI demand powers NVIDIA’s record earnings, and AI-themed cryptocurrencies should rally in sympathy.
In reality, the disconnect has never been starker. Despite the chipmaker’s jaw-dropping $46.7 billion haul, AI cryptos like Bittensor (TAO), Artificial Superintelligence Alliance (FET), and NEAR Protocol (NEAR) barely moved.
In this analysis, CCN reveals why these altcoins failed to react positively to the development and discloses what could be next for each.
NVIDIA Stock Slips Despite Earnings
According to NVIDIA’s Q2 earnings report, the company posted revenue of $46.7 billion — up 6% from Q1 and 56% higher than last year.
Its Blackwell Data Center revenue rose 17% sequentially, highlighting continued AI and cloud infrastructure demand.
However, the company disclosed that it recorded no sales from China, a factor that weighed heavily on results.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
“There were no H20 sales to China-based customers in the second quarter. NVIDIA benefited from a $180 million release of previously reserved H20 inventory, from approximately $650 million in unrestricted H20 sales to a customer outside of China,” The report stated.
With data center performance falling short of market expectations, NVIDIA’s stock tumbled below $185.
This decline also appeared to spill over into AI cryptos, limiting their chances of a breakout. However, NVIDIA’s Q2 earnings miss wasn’t the only factor as other forces contributed to the weakness.
Bittensor (TAO)
At press time, TAO is trading at $335.85. From a technical standpoint, the daily chart shows the token trapped in a descending channel, reflecting sustained downward pressure.
The same chart also reveals a bearish crossover on the MACD, reinforcing the negative outlook and suggesting that momentum currently favors the sellers.
Due to this move, TAO’s price will likely break below the horizontal support. If that were to happen, the market value could slide toward $256.16 at the 0.236 Fibonacci retracement level.
However, if the technical setup later leads to a bullish crossover, TAO might break the resistance line and rise toward $460.25.
NEAR Protocol (NEAR)
NEAR is another AI coin that failed to rally following NVIDIA’s Q2 earnings release. Instead, its price has consolidated, with the daily chart forming a symmetrical triangle pattern.
At the same time, on-chain and technical indicators highlight weak demand. The Chaikin Money Flow (CMF) has slipped below the zero line, showing capital outflows, while the Awesome Oscillator (AO) has also dropped into negative territory, reinforcing the bearish momentum.
Should that remain the case, NEAR’s price could decline below the lower trendline of the triangle. In such a scenario, NEAR might drop to $1.80.
However, if buying pressure increases, this trend might change, and NEAR’s price could break to $3.34.
Artificial Superintelligence Alliance (FET)
FET’s technical setup also looks similar to that of NEAR and TAO. Last month, the altcoin attempted to break above $1, but the effort failed. As of today, FET has dropped to $0.65 and continues to consolidate within a symmetrical triangle.
On the daily chart, the Relative Strength Index (RSI) sits below the signal line, pointing to persistent bearish momentum. FET’s price has slipped below the 20 EMA, adding to the weakness. This is a sign that short-term sentiment remains negative.
With these conditions in place, a breakout appears unlikely despite the boost from NVIDIA’s Q2 earnings.
If the trend holds, FET could slide below $0.55. However, the bearish outlook may be invalidated should buy pressure increase, opening the door for a rebound back toward $1.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
