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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.