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- The AIOZ price recovered 50% in less than 2 days, indicating buyers’ engagement.
- AIOZ Network has diluted 100% of its coins in the cryptocurrency market.
Since November 2023, AIOZ has surged by 4000%, demonstrating the bulls’ dominance. The bullish trend was interrupted near the $1 hurdle. The price has recorded an all-time high of $1.08 on March 25.
After reaching ATH, the AIOZ Network price has witnessed selling pressure. The price has declined through a descending channel by facing resistance from a trendline. In the last week of July, the buyers attempted to exceed the trendline but couldn’t.
Turning to the technical indicators, the RSI has developed a bullish divergence. The RSI was rapidly dropped to the RSI-based moving average but has recovered.
The AIOZ price has grabbed the liquidity below the key moving averages as the buyers have lifted the price over it.
Is AIOZ Crypto a Strongest Altcoin?
A source on X claimed that the AIOZ Network is one of the strongest altcoins. After the small liquidity grab, it is up by 16% against Bitcoin.
$AIOZ is the strongest altcoin in my watchlist, it’s even up 16% against BTC after a nice little liq grab and a 4H DOP gain.
— 0R N0IR (@0rn0ir) August 6, 2024
Will try to get into position around the green level. pic.twitter.com/wyL02iMm5h
AIOZ seems to have found its bottom and could show bullishness.
Shoot Up After Correction Phase?
Based on a source on X, the AIOZ crypto price has undergone a correction phase. During the monthly time frame, the price underwent a correction phase.
$aioz pattern playing out similar to its last correction where it did a 9x after…#crypto $alts pic.twitter.com/l4e4qc3YUi
— (@AskCryptoWealth) August 6, 2024
Recently, it has gained a 9x return after a correction phase.
Could AIOZ Price Record a New ATH After the Breakout?
AIOZ Network was traded at $0.510 at press time, gaining around 2.82% in the past 24 hours. The market capitalization was $569.51 Million, and the 24-hour trading volume was $20.96 Million at the time of writing.
For more than 45 days, the buyers have managed to defend the $0.400 hurdle. Recently, the price has taken support on this level and extended to the key moving averages.
As per the chart structure, the AIOZ price has been falling in a descending channel. Buying momentum can be initiated if the digital asset price breaks out from the channel. It might record a new all-time high if buyers remain strong.
Alternatively, sellers may show confidence in the lower-high territory if the ALOZ price faces resistance from the key moving averages. The negative candlestick in this zone would be a bearish sign.
All-time High Soon?
The analysis showed that AIOZ has experienced a correction phase after reaching its all-time high. However, there are indications that buyers are regaining control. The price recovery and the bullish divergence in the RSI evidenced it.
The possibility of a breakout from the descending channel presents an opportunity for buying momentum. It could potentially lead to a new all-time high if buyers remain strong.
Technical Levels
The bullish trend in AIOZ Network price could be interrupted near the $0.65 and $0.90 levels. The price may take support at the $0.40 and $0.25 mark.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
