The post AIOZ eyes $1.8 as bullish momentum strengthens – Can it rally? appeared on BitcoinEthereumNews.com.

Open Interest and trading volume have surged significantly, signaling potential for further gains. On the charts, AIOZ was trading within a bullish flag pattern, typically a precursor to continued upward movement. AIOZ Network’s [AIOZ] price has risen 21.75% in the past 24 hours, reducing its monthly loss to 7.86%.  Its market cap also climbed 21.77% in the same period, reaching $1.22 billion. With bullish momentum intact, AIOZ appears poised for further significant growth. Major momentum build up in AIOZ AIOZ has attracted strong market interest over the past 24 hours, with key metrics highlighting growing bullish sentiment. Open Interest in derivatives spiked by 27.47% to $9.35 million, reflecting heightened trading activity. While this alone doesn’t confirm bullish intent, the simultaneous surge in volume and price indicates positive sentiment. Source: Coinglass Trading volume for AIOZ skyrocketed by 445.98%—a 4.4x increase—reaching $18.01 million and coinciding with notable price gains. Additionally, the Funding Rate, a key indicator of market positioning, climbed to 0.0282%, according to Coinglass, signaling sustained bullish interest. With market activity on the rise, the Funding Rate may trend even higher. Bullish flag positions AIOZ for a rally to $1.8 AIOZ’s recent gains stem from breaking out of a consolidation phase within a bullish flag pattern. Consolidation phases often see buyers accumulating the asset as prices dip within a confined range, setting the stage for a breakout. Source: TradingView In AIOZ’s case, a price range analysis indicated that the asset was poised for a potential 107.80% return, with a final target of approximately $1.84. Since initiating its upward movement, AIOZ has remained firmly in bullish territory, as confirmed by technical indicators, suggesting the rally is gaining strength. More room for an upswing The Relative Strength Index (RSI) remained firmly in bullish territory, currently reading 59.87, well above the neutral 50 level.…

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Filed under: News - @ January 5, 2025 6:11 pm