Will the AZERO Crypto Continue to Rise to Higher Levels?

• In the last 24 hours, the Alef Zero coin price has increased by 5%.
• The AZERO crypto is trading 100% above its all-time low price.

Aleph Zero (AZERO) is a fast and private layer-1 blockchain that supports various use cases and sectors. It raised $15 Million and launched its mainnet in 2021. It plans to add more privacy features with sMPC and ZKP. This blockchain has a growing team and ecosystem.

The trading volume of the AZERO crypto has risen by 6.8% in the last 24 hours. It has resulted in a traded volume of $2.54 Million, leading to a ranking of 648th, as per CoinMarketCap.

Additionally, the market cap of the crypto has risen by 3.6%, resulting in $349.795 Million. The market cap dominance of the crypto is 0.019% and it has a volume/market cap ratio of 0.0075.

The Aleph Zero crypto hit its all-time low trading price of 0.592052 in June 2022 and since then the price has increased by 120%. Moreover, the 7-day low/high range of the crypto is $1.22/$1.39. This blockchain uses a proof-of-stake consensus mechanism to offer faster solutions.

AZERO Technical Analysis

The AZERO crypto price is making a higher high pattern on the charts, leading to an uptrend. Based on the most recent scenario, the crypto has formed a flag and pole pattern on the charts. If the price breaks above the current pattern, it might lead to higher levels in the future.

The crypto is trading above the crucial EMAs like the 20, 50, and 200-day EMAs which formed a golden cross. This behavior of the price reflects the dominance of buyers in the crypto market.

The MACD on the daily chart is bullish but it is giving a sell signal, indicating the possibility of retracement in the crypto’s price. The signal and the MACD lines are situated above the zero level and they are forming a death cross pattern.

Conclusion

AZERO is a layer-1 blockchain that offers speed and privacy for various sectors. The price has risen by 120% since its all-time low and the indicators are bullish. This crypto asset has a strong potential to rise to a higher level. We might get to see higher levels if the price breaks above the flag and pole pattern.

Technical Levels 

• Support levels- $0.9760 and $1.160
• Resistance levels- $1.520 and $1.80

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.