- AI16Z has made a strong revival of its price diagrams and increases by 16.5% as the demand for long positions increases.
- The Altcoin experiences a strong demand for long positions and risks a long squeeze.
AI16Z [AI16Z] Experience with a huge increase in his price diagrams in the last 24 hours, which rose from a low 00.129 low to a highlight of $ 0.157. This meant an increase of 16.5% on his daily graphs.
In the same period, the memecoin saw an increase of 16.31% in its volume and reached $ 118.4 million.
Likewise, the open interest of AI16Z has risen by 17.8% by $ 61.19 million. When both volume and OI rise, this suggests that investors position strategically before the market makes a movement – they open positions.
Source: Coinalyze
Looking at the long/short relationship, it shows that these investors enter the market and open long positions.
Longs is even good for 57.41% of future contracts, while Shorts are 42.6%. When long -terms dominate, this suggests that investors are optimistic and expect prices to go up.
Moreover, the financing percentage remained positive for two consecutive days – another meaningful sign of Bullish Marktson’s.
Still, whether these rally legs or does not remain in question.
Is a meeting ahead of AI16Z or is it just a bullfall?
According to the analysis of Ambcrypto, AI16Z buyers return to the market to position themselves strategically.
Source: TradingView
To begin with, the RSI of AI16Z had risen from 41 to 47 on the press. An increase in RSI suggests that buyers are starting to come back to the market and there are more profit than losses.
Because RSI remained under 50 Mark, Beararh undertone was still hanging. A break above 50 would solidify bullish force.
Currently, although buyers are back on the market, they have not yet had total control over the market and sellers are still active.
Source: Coinglass
A fall or a launch platform?
That said, sellers have not disappeared. Spot Netflow remained positive, which suggests that exchange deposits exceeded recordings.
Of course this pattern usually means taking a profit, especially by holders who had been under water and used the bounce to leave. Despite the rise in the lungs, such a sales pressure destroyed the power of the uprising.
As such, the upward trend seems weak.
Looking at mixed signals, it can be safe to say that AI16Z sees a bullfall, and a long squeeze can take place.
That is why AI16Z could be approached from the recent increase and valleys to $ 0.146. However, if Bulls’s attempt applies, we could see the altcoin increase up to $ 0.160.