AIXBT Surges 18%, Breaks Key Resistance Level
Key Takeaways
- The price of the cryptocurrency AIXBT rose by 18% within a single day.
- Important resistance level at USD 0.23400 was broken.
- Trading volume surged by 154% – a sign of strong market interest.
- Large buy orders (“whale orders”) have been increasing significantly since March.
- A drop below USD 0.23400 could jeopardize the upward momentum.
What’s Behind the AIXBT Surge?
AIXBT, a token of the Virtuals Protocol with a focus on artificial intelligence (AI), is currently one of the most talked-about cryptocurrencies. Within 24 hours, its price increased by over 18%. At the same time, daily trading volume jumped by 154%. The price moved from a local low of USD 0.1630 to a high of USD 0.25565 – a clear upward trend.
Technical Analysis: Resistance Broken
The price broke through the key resistance level at USD 0.23400. This area now acts as support. As long as AIXBT remains above this level, the market is technically bullish. Further price targets lie between USD 0.26000 and USD 0.27000. However, if the price falls below USD 0.23400, a return to the previous sideways range between USD 0.16000 and USD 0.23000 is likely.
A decline below USD 0.16000 would completely negate the bullish outlook and could lead to further losses.
Indicators Still Show Buyer Dominance
The MACD (Moving Average Convergence Divergence) – a technical indicator used to identify trends – is currently showing a positive development. The MACD line is above the signal line, and the histogram is green. This indicates that buyers currently dominate the market. However, if the MACD begins to weaken, it could be an early signal of declining momentum.
Whale Activity as a Price Driver
Another factor behind the price increase is the rise in large buy orders. Since the end of March, the average order size in the spot market has been steadily increasing. This suggests growing interest from institutional investors or high-net-worth individuals – so-called “whales.” These purchases began when prices were around USD 0.07 and have contributed to the current trend.
As long as these players continue to buy, the price could keep rising. However, if interest fades or profit-taking occurs, prices could quickly fall again. Historical data shows that retail investor demand is often insufficient to stabilize the price in such cases.
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Our Assessment
AIXBT is currently showing strong price momentum, supported by technical signals and increased whale activity. The breakout above the USD 0.23400 resistance level is a positive sign. As long as the price remains above this level, further gains are possible. In the short term, USD 0.26000 to USD 0.27000 are realistic targets.
However, risks remain: a drop below the support zone could end the uptrend. Keep an eye on both the key price levels and trading volumes. The development remains speculative – especially if institutional investor interest declines.
Sources
- TradingView
- CryptoQuant
- CoinMarketCap
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