Artificial intelligence coin AIXBT, from the Virtuals Protocol [VIRTUAL], has seen a significant surge in the last 24 hours, making it one of the top trending cryptocurrencies on CoinMarketCap. The price of AIXBT has soared by more than 18% and the daily trading volume has increased by 154%, rebounding from a local bottom of $0.1630 to reach a high of $0.25565 in a swift upward movement.
AIXBT has broken above a key resistance area at $0.23400, indicating a bullish market sentiment. If the price continues to stay above this level, it could potentially reach levels around $0.26000–$0.27000 next or even higher. On the other hand, a drop below $0.23400 may lead to a period of consolidation within the range of $0.16000 to $0.23000.
The MACD line crossing above the signal line and the histogram remaining green suggest that buyers are still in control of the market. However, if the MACD loses strength, it could signal a potential reversal in momentum. The key support level for AIXBT is at $0.23400, with key targets set at $0.26000–$0.27000.
Additionally, analysis of spot average order sizes for AIXBT reveals a steady increase in whale orders since late March. This influx of large orders has contributed to the price appreciation of AIXBT, with the market seeing improvements from the $0.07 zone to above $0.20. The continued interest from institutions or wealthy individuals in AIXBT could further support its value in the future.
As the market continues to attract buyers, driven by the growing average spot order sizes, AIXBT may experience further price gains. However, a decrease in speculative interest or a sell-off could lead to a rapid decline in prices, particularly as retail investor buying tends to be weaker historically.
In conclusion, AIXBT’s recent surge and bullish momentum, supported by strong volume and whale activity, suggest a positive outlook for the coin. As long as it remains above the key support level of $0.23400, AIXBT could continue its upward trajectory. Investors should closely monitor market developments and whale activity to gauge the future direction of AIXBT’s price movement.