Why AIXBT Hit New ATH Today? Will Price Rally More?

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A digital currency called AIXBT has attracted investors with its recent achievement. It reached a new all-time high (ATH) of $0.745 following a strong increase over the past few days. The token has seen a lot of interest in the market and has been moving steadily upward for weeks. But it’s important to acknowledge that there have also been drops and setbacks. Let’s examine the factors causing AIXBT’s price rise to ATH and determine whether this crypto rally can be maintained or not.

Reasons Behind The AIXBT Price Surge

Over the past day, the price of the AIXBT token skyrocketed over 70%, reaching an all-time high of $0.745. Today’s increase was significant, but the token had been on an upward trend for several days due to growing investor interest and excitement surrounding AI-focused cryptocurrencies. Earlier reports from CoinGape predicted that AI-themed cryptos would be a major focus in the crypto market by 2025, and this trend is already apparent in the performance of AIXBT and other popular AI cryptos.

In response to its strong market performance and high demand, Binance recently added AIXBT to their platform. HashKey Global’s announcement of this listing has boosted its market presence. This move is likely to enhance the confidence of both bullish traders and investors.

Based on recent derivative data from Coinglass, AIXBT’s open interest has dramatically increased to approximately $154 million, nearly doubling in a single day. This significant rise had an impactful effect, but the escalating trading volume further boosted the price surge. Currently, the 24-hour trading volume stands at a substantial $471.86 million, indicating heightened network activity and growing investor trust.

The surge in AIXBT’s price to an all-time high (ATH) may be attributed to increased activity from large crypto investors, or “whales.” A fresh wallet has amassed approximately 3.06 million AIXBT in only 42 hours, generating substantial returns on their investment. This strong performance is drawing the attention of investors who believe that this token could potentially reach a value of $1 in the near future.

Will AIXBT Price Rally Continue To $1?

During the crypto market plunge on January 13, the value of AIXBT dropped to $0.36. However, it has significantly increased by over 100% since then and is currently trading at $0.672. After reaching an all-time high earlier in the day, it has fallen 10%, indicating potential consolidation. The key support level for AIXBT is currently around $0.663; a drop below this could potentially spark a downward trend that may lower its price by up to 50% to approximately $0.557 (Fibonacci retracement level). On the other hand, if support is maintained at this critical point, the price could surge to the 161.8% Fibonacci extension level, which could take it as high as $0.99 or even $1, representing a 32% increase from its current value.

Keep a close watch for crucial turning points and potential shifts in direction, as market fluctuations become more pronounced and the current downtrend continues.

Bottom Line

The excitement surrounding AI-related cryptocurrencies and digital agents has impacted the performance of AIXBT, as its token reached a new all-time high (ATH) in a market that’s been consolidating. While many altcoins are enjoying substantial gains today, coins like AIXBT have seen particularly strong growth, increasing more than 100% since its dip on January 13. At the moment, it’s trading at $0.672, and if this trend continues, it could potentially reach $1. This optimistic outlook is based on the crucial resistance level at $0.663. If AIXBT surges above this point, it might establish an uptrend; however, a drop from this level could cause its price to fall to $0.557.

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2025-01-15 16:52