Price Analysis
  • Sohrab Khawas
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    Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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AIOZ Price Breakout Run Eyes A 2x Surge If Bitcoin Regains $68K

As the meme and AI tokens are on a sloping hill, the supply surge in Bitcoin and Ethereum fuels the FUD run. Amid the scarcity of bullish momentum, the AIOZ price trend struggled to sustain the uphill journey. 

With a potential relief in the coming days, the AIOZ token could prolong the breakout run. So, will the bullish trend in the AIOZ price jump to the psychological mark of $2?

Wedge Breakout In AIOZ Hits A Speed Bump Near $0.60

With a rounding bottom reversal from the $0.40 level, the AIOZ price reclaims the $0.50 psychological mark. Furthermore, the bull run in the AI token ends the trend of lower high formation.

In the daily chart, the recovery rally gains momentum with a falling wedge breakout. Furthermore, the relief phase challenges the 23.60% Fib level at $0.59. 

Currently, the AI token trades at $0.60 with an intraday drop of 3.18% as the consolidation at the 23.60% Fib level grows. Furthermore, this fib level acts as the neckline of the rounding reversal. 

Technical Indicators:

RSI: The daily RSI line shows a bullish trend on the verge of crossing into the overbought boundary. 

MACD: The bullish continuation of the MACD and signal lines enter the positive territory.

Hence, the technical indicators tease a potential bull run in the coming times.

Will The AIOZ Price Top $1?

As per the trend-based Fibonacci levels, the AIOZ price could shortly surpass the 23.60% Fibonacci level at $0.59. However, a potential push from a broader market recovery will be a trend-changing catalyst. The bull run in the AI token is likely to challenge the previous swing-high peak at $1.0839. 

Optimistically, the Fibonacci levels paint a lucrative target at $1.70 with the 1.618 Fibonacci level, a 2x surge in the coming days. 

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