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The ai16z price surged 17% in the last 24 hours to trade at $2.30 as of 11:14 p.m. EST on trading volume that skyrocketed 105% to $630 million.
ai16Z Price On A Bullish Trend Reversal
The AI16Z price analysis on the 1-hour timeframe shows a bullish trend. Following a period of consolidation, the price broke above the 50-day Simple Moving Average (SMA) around $1.9963 and continued higher, now trading at $2.3021, as data from GeckoTerminal shows.
A rounding bottom pattern appears to have formed, a classic bullish reversal pattern.
The current uptrend is supported by higher highs and higher lows, and the breakout suggests the potential for further upward movement.
Immediate resistance lies near $2.35, with the potential to challenge psychological and structural levels around $2.50 if momentum persists.
The 200-day SMA at $1.9005 acts as strong dynamic support in the event of a retracement.
Meanwhile, the Relative Strength Index (RSI) is at 65.53, moving toward the overbought zone but still below the critical 70 level. This indicates strong bullish momentum, with room for further upside before overbought conditions emerge.
The Moving Average Convergence Divergence (MACD) blue line remains above the orange signal line, with the histogram showing increasing positive momentum.
This confirms the bullish trend and suggests that buyers are in control. No bearish divergence is present, which supports the continuation of the uptrend.
AI16Z Price Prediction
The bullish breakout from the rounding bottom pattern suggests that AI16Z could continue its upward momentum. The next major resistance levels are $2.35 (recent high) and $2.50 (psychological level).
A breakout above these levels could see the price of ai16Z push toward $2.70, aligning with the measured move of the cup-and-handle pattern.
In the event of a pullback, the $2.20 level, which previously acted as resistance, is likely to serve as support, followed by the 50-day SMA near $2.00.
The broader trend remains bullish as long as the ai16Z price stays above the 200-hour MA at $1.90.
Meanwhile, investors are also buying into a new crypto called Meme Index (MEMEX), the world’s first meme coin index that offers a diversified way to invest in meme coins.
Crypto analyst ClayBro, with over 135K followers on YouTube, believes that MEMEX could see a 26X increase after launch, helped in part by the 2025 meme coin supercycle.
Meme Index Presale Closes On $2 Million
The Meme Index presale has already garnered over $1.9 million as it continues to gain traction in the meme coin space.
Meme Index introduces an innovative concept to the cryptocurrency landscape by creating meme coin indexes similar to traditional market indices like the S&P 500 or NASDAQ.
Meme Index fills a gap by providing four baskets of meme coins to invest in that mirror the collective performance of popular tokens.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
These include the Moonshot Index, which aggregates volatile low-cap meme coins, and the Titan Index, which focuses on established blue-chip meme tokens such as DOGE, SHIB, and PEPE.
This diversity enables traders to engage with different levels of risk and reward, all under the umbrella of a single project.
The two remaining baskets are Midcap and Meme Frenzy, each catering to different risk appetites and investment strategies.
Additionally, Meme Index offers a staking platform that allows presale participants to earn a stratospheric 1,185% annual percentage yield (APY).
To participate in the presale, you can purchase MEMEX tokens on the official website for just $0.0149831.
Buy soon to lock in the best deal as the price will increase in slightly less than a day.
Buy MEMEX tokens using USDT, ETH or bank card.
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