Will ai16z Price Hit $3 After ByBit Listing?

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The price of AI16z has been strong lately due to interest in Solana meme coins and tokens related to AI agents. It recently hit an all-time high, making it one of the major players in cryptocurrency. Although the AI16Z token has slightly dropped, its recent listing on Bybit and the formation of a bullish pattern could potentially drive its price up to $3 in the short term.

ai16z Price Rises Modestly After Bybit Listing, Will Gains Continue?

The price of AI16z coin remained relatively stable on Monday, increasing by 4%, despite Bitcoin touching $100,000 and getting listed on Bybit. The coin started trading on the second-largest exchange on Monday, and it appears that traders have begun exchanging this token. According to CoinMarketCap, the AI16z/USDT pair saw a trading volume exceeding $2 million, suggesting this figure may grow further.

A significant factor that may boost the price of ai16z is if it gets listed on major exchanges such as Binance, Coinbase, and OKX. Currently, most of its trades are taking place in decentralized exchange networks on Solana like Raydium and Orca, and secondary exchanges including Gate and Bitget.

A possible explanation for the slow response to the Bybit listing could be that some large investors, or “whales,” might be selling off their assets following a significant increase in the AI agent token several months ago. According to LookOnChain, one such whale has been selling ai16z tokens worth approximately $10.6 million using limit orders. It’s not unusual for these big investors to reduce their holdings after a substantial price rise.

ai16z Coin Price Bullish Patten Points To More Gains

AI16z’s coin price has shown impressive growth, jumping from $0.01210 in November to a striking $2 today, representing an astonishing 12,000% increase. However, this remarkable rise appears to have reached its peak, as the token has recently dipped by approximately 25% from its highest point this month due to profit-taking.

In a favorable outlook, the token appears to be gradually shaping a chart structure that might potentially drive it up towards $3 in the short term. This structure is known as a bullish flag, characterized by a long flagpole and a correction or consolidation phase. Interestingly, this correction phase seems to resemble a falling wedge, another extremely bullish chart pattern.

AI16Z Token Targets

Given a successful bullish flag pattern, the AI16Z’s price could reach its historical peak of $2.50, representing a 32% increase from its current value. A decisive break above this price might suggest further growth, possibly leading to the extreme overshoot point of the Murrey Math Lines at $2.73, with potential subsequent growth towards $3.00.

Instead, if the price falls below the lower boundary of the flag pattern, it would contradict the bullish perspective and potentially indicate a decline towards the 50% retracement level at $1.2650.

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2025-01-06 14:29