$AIXBT Faces a 14% Drop: Is Recovery Still on the Table? #AIXBT #BEARISH📉

Analysis:

AIxBT (AIXBT/USDT) is currently trading at $0.5218, marking a sharp 13.98% decline over the last 24 hours. Let’s break down the technicals:

1. Price Action:

After hitting a 24-hour high of $0.6260, AIxBT dropped to a low of $0.4684 before stabilizing around $0.5218. This bearish momentum is keeping it below the middle Bollinger Band ($0.6215).

2. Bollinger Bands:

The bands are widening, with the upper band at $0.7449 and the lower band at $0.4981. The price is hovering near the lower band, indicating strong selling pressure.

3. Moving Averages:

The 5-period MA ($0.5678) and 10-period MA ($0.6215) are both above the current price, suggesting continued bearish dominance. Recovery will need a breakout above these levels.

4. Volume:

24-hour volume sits at 161.06M AIXBT, reflecting strong participation. However, the sellers seem to have the upper hand for now.

5. Resistance & Support Levels:

Immediate Resistance: $0.5678

Secondary Resistance: $0.6215

Critical Support: $0.4981

Conclusion:

AIxBT is battling heavy bearish momentum, with $0.4981 as the next critical support to watch. A rebound above $0.5678 could reignite bullish sentiment, but failure to hold above support may push the price lower. Stay alert for volume and momentum changes.

Disclaimer:

This post is for informational purposes only and not financial advice. Always conduct your own research before investing.

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