AIOZ Price Prediction: Breakout Rally in AIOZ Network Eyes $8
The post AIOZ Price Prediction: Breakout Rally in AIOZ Network Eyes $8 appeared first on Coinpedia Fintech News
The breakout and upside chances are rising, with the AI tokens gradually picking up pace in the recovering market. Amid the AI tokens, the AIOZ token price is quick to rise and becomes one of the top-performing altcoins in the last 24 hours.
With a potential bull run in the coming days, the AIOZ token will likely reclaim its all-time high’s lost level. So, will the bullish trend in the AIOZ price lead to a new 52W high at $1.70?
Double Bottom Reversal & Trendline Break For AIOZ
With a support trendline providing reversal opportunities at a declining slope, the AIOZ token price reveals a falling wedge breakout. The AI token trades at $0.6454 with an intraday gain of 16.85% to create a bullish engulfing candlestick.
Surpassing the 50D and 200D EMA, the AIOZ price completes a double bottom reversal with a neckline break at $0.5944. Furthermore, the bullish dominance at the $0.50 psychological mark bolsters the upside movement.
With trend reversal and breakout rally in play, the bull run in the AIOZ token undermined last month’s consolidation. Heading towards the $1 psychological mark, the all-time high breakout chances in AIOZ increase with the broader market recovery.
Technical Indicators:
RSI: The daily RSI line shows a rounding reversal and is on the verge of hitting the overbought boundary. Hence, the gradual rise in demand with the breakout run teases a massive move ahead.
EMA: Overcoming the threat of a death cross, the bull run in AIOZ price limits the looming threat. With an uptick in the 50D EMA, the dynamic supports are likely to enter an uptrend.
Where Is AIOZ Price Headed?
As per the trend-based Fibonacci levels, the AIOZ price breaks above the 23.60% Fibonacci level at $0.59. With the improving broader market, the bull run in the AI token is likely to challenge the previous swing high peak at $1.0839.
However, the Fibonacci levels paint a lucrative target at $1.70 with the 1.618 Fibonacci level, a 2x surge in the coming days.
