The cryptocurrency market has been experiencing a strong bullish trend since November, led by Bitcoin ($BTC ) surging to a record-breaking all-time high of $108,000. Amid this rally, AIOZ Network ($AIOZ), a Decentralized Physical Infrastructure Network (DePIN) token, has captured significant attention due to its impressive performance.
Over the past 60 days, AIOZ has surged by an outstanding 125%, firmly positioning itself among the standout performers in the current market environment.
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AIOZ Nearing a Potential Breakout
AIOZ has delivered remarkable gains recently, climbing to a high of $1.32 on December 1. After this strong rally, the token entered a brief corrective phase, retracing to a support level of $0.95 before resuming its upward trajectory. Currently, AIOZ is trading at $1.13 and approaching a critical trendline, signaling the possibility of a breakout.
If AIOZ manages to break above and retest the $1.14 to $1.16 resistance zone, it could set its sights on higher targets. Key levels to watch include the previous high of $1.32 and a major resistance at $1.70, representing a potential 70% upside from its current price.
The Relative Strength Index (RSI) for AIOZ currently stands at 49, indicating a neutral position. This suggests the token is neither overbought nor oversold, leaving ample room for price movement depending on market sentiment and momentum.
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Expectations for AIOZ Moving Forward
The token’s current momentum indicates a strong likelihood of a breakout, with potential to rally toward $1.70 if key resistance levels are breached. Historically, AIOZ has demonstrated sharp upward movements, such as its previous breakout which delivered gains of over 63% within a short timeframe.
On the downside, failure to break above the current trendline could result in a rejection, prompting AIOZ to revisit its lower trendline for support. This scenario may provide traders with an opportunity to accumulate before the next upward move.
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Conclusion
AIOZ Network is at a pivotal juncture, trading near a key trendline with its RSI in a neutral zone. If it can capitalize on the broader bullish market sentiment and execute a successful breakout, the token has the potential to reach new highs, targeting $1.70.
However, traders should remain cautious of a possible pullback, which could offer a more favorable entry point. In either case, AIOZ remains a token to watch closely in the evolving cryptocurrency market.
