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ai16z – Profit-taking whales could push altcoin’s price down to…
The past two weeks have been nothing short of spectacular for AI agent ai16z, with a whopping 200% rally fueled by bullish updates and the expected Eliza framework launch in Q1 2025. However, as the token approaches $2, whales are starting to cash out their positions, raising concerns that this could be the catalyst for a price correction.
The recent surge has seen AI16Z’s Open Interest (OI) skyrocket from $1 million to over $80 million – an astonishing 8,000% hike. This frenzied activity on Futures markets is a testament to the immense speculative interest in the altcoin.
Despite the optimism surrounding AI agents like ai16z, which are being touted as game-changers in their respective industries, the tide of profit-taking whales may prove too strong for the token’s uptrend momentum.
In the event that ai16z’s price does succumb to pressure from these heavy-handed sellers, technical analysis suggests a potential pullback to key moving averages such as $1.5 or even $1.0.
On the other hand, if the token manages to break through the 2.618 level at around $2.5, it could potentially reach the highly significant 3.618 mark at approximately $3.45.
While ai16z’s price is bound to be influenced by whales’ profit-taking decisions, it remains to be seen whether this token can maintain its uptrend momentum in light of this unforeseen development.
The future prospects for ai16z appear promising, with AI agents set to play a crucial role in their respective industries. Whether or not these expectations will manifest into tangible market gains is still unknown at this point.
Source: ambcrypto.com
