AI16Z has recently experienced a decline of 19.05% over the past week and another 4.59% in the last 24 hours, with the potential for further drops as noted by chart patterns. However, traders on Binance and OKX are accumulating tokens and displaying bullish sentiment, evidenced by a high long-to-short ratio, indicating a divergence from general market bearishness. Analysts expect a support level at approximately $0.80, where a rebound could lead to a potential rise to $2.60, representing a 325% increase. Additionally, decreasing supply on exchanges and a negative net flow of AI16Z highlight accumulating confidence among investors. The derivatives market also shows bullish trends with rising funding rates and open interest, suggesting strong optimism for AI16Z’s future.
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Will it Hit $2.6? Insights from Leading Traders
