Ai16z Price- Memecoin Ai16z Shows Bullish Signs Despite Spot Selling Pressure
Ai16z Price– Over the past 24 hours, Ai16z experienced a notable price increase, rising 15.49% from $0.2100 to a peak of $0.2587 before a slight pullback. This upward movement coincided with a surge in the memecoin’s derivatives market activity, reflecting growing interest.
Surge in Volume and Open Interest
Total trading volume climbed by 67.36%, reaching $311.29 million, a sign of rising demand. The Futures market saw a 15.7% increase in Open Interest, hitting $90.57 million. This rise indicates many investors are actively taking strategic positions, with most favoring long positions.
Supporting this bullish sentiment, Ai16z’s funding rate remained firmly positive, suggesting investors expect further price gains. Exchange activity also reflected strong demand. Interestingly, Ai16z’s exchange netflows have been negative for three consecutive days, meaning more tokens are being withdrawn than deposited. This pattern points to increased accumulation outside exchanges.
Market Sentiment Shift and Technical Momentum
AMBCrypto’s analysis highlights a shift in market sentiment after Ai16z’s recent dip to $0.19. The memecoin successfully defended its $0.20 support level and rebounded, indicating strengthening upward momentum.
This momentum is confirmed by a recent bullish crossover on Ai16z’s Stochastic indicator, signaling potential for continued gains. However, Ai16z faces resistance from sellers in the spot market. In the last 24 hours, sellers offloaded 250.9k tokens, contributing to a negative delta of 29.9k and the slight price pullback observed.
If selling pressure persists, Ai16z could see a retracement toward $0.22.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
[…] by about 35%. This demonstrates that merchants continue to operate despite declining pricing. Derivatives activity, however, has decreased. The volume of futures has increased by almost 20% to $26.5 million. In […]