Ai16z Price Dips Below $1! Is This the End for the Solana-Based Altcoin?

Amid the increased adoption of blockchain technology, the Artificial Intelligence (AI) segment has experienced a massive boom with many successful multi-billion projects. Despite such optimism, the Ai16z crypto project has experienced a major pullback, resulting in it losing over a billion dollars this month.

Considering the present market sentiments of this Solana-based altcoin, investors are curious with questions like “Is Ai16z a good investment?” and “Will AI16Z price rise back up?” Dive in as, we explore the market sentiments, price analysis, and possible short-term targets of the Ai16z crypto token.

AI16Z Price Records Increased Bearish Action!

The Ai16z price today has dropped by 23.84% with a trading volume of $215.35 million, a change of -38.18%. Moreover, it has plunged 35% over the last 7 days and is currently trading at a discount of 61.79% from its ATH of $2.48. This suggests a strong bearish reversal for it in the market.

The Relative Strength Index (RSI) records a sharp decline in the daily time frame. Moreover, with its average trendline experiencing a bearish convergence, this Solana-based altcoin may continue losing value this week.

On the other hand, the EMA 50/200-day shows a negative price action in the Ai16z price chart. This suggests a bearish outlook for the altcoin.

Will Ai16z Price Ever Recover?

Suppose, a trend reversal occurs, this could result in the AI16Z price retesting its resistance level of $1.30. Maintaining the price above that level could set the stage for it to head toward its upper high of $1.72 in the coming time.

On the contrary, an increased bearish action could pull the price toward its support level of $0.916. Furthermore, if the bears dominate the crypto space, the Ai16z coin price could plunge toward its crucial support trendline of $0.50.

Are you one of many who are curious to understand the long-term prospects of SOL coin? Read CoinPedia’s Solana Price Prediction for insights!