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The io.net price climbed over 1% in the past 24 hours but is still down more than 15% on the weekly timeframe to trade at $3.30 as of 6:55 a.m. EST as investors dump the altcoin.
This minor gain throughout the past 24 hours comes shortly after the IO price established a new all-time low at $3.14. After dropping to this point, the crypto has since risen more than 5%.
The io.net Price Trying To Break Above A Negative Trend Line
4-hour chart for IO/USD (Source: GeckoTerminal)
The io.net price rebounded off of the key $3.1770 support over the last 24 hours. As such, IO is now attempting to overcome a medium-term negative trend line that has emerged on its charts. Should it breach this threshold within the next 8 hours, it could begin to climb to the $3.9642 resistance level.
If bulls then decide to continue exerting pressure on the io.net price, the crypto might have the backing needed to flip $3.9642 into support. Thereafter, the crypto could keep climbing in the following 24 hours. A break above $3.9642 will clear a path for IO to potentially rise to as high as $4.7515 in the short term.
However, the io.net price failing to close a 4-hour candle above the aforementioned descending trend line might invalidate the bullish thesis. In this alternative scenario, the altcoin could retest the immediate support level at $0.31770. Bears might then pull the crypto’s price below this point, which could lead to IO establishing a new all-time low.
The io.net Price Could Keep Climbing As Bullish Technical Signs Emerge
Technical indicators on IO’s 4-hour chart suggest the io.net price could continue climbing in the next few hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators point to increasing buyer strength.
This is after the MACD line crossed above the MACD Signal line in the last 24 hours. Traders usually see this as a sign that a crypto has entered into a short-term bullish cycle. What’s more, the gap between the two lines is starting to grow, which could indicate that IO’s bullish momentum is growing stronger as well.
Meanwhile, the RSI is well below the 50 mark. RSI values below 50 tend to signal that a crypto is oversold. With the technical indicator starting to level off, bulls might start to enter into a long position for IO. The chances of this happening are increased given the fact that the current RSI reading suggests IO’s upside potential is far greater than its downside potential.
While the io.net price attempts to break above a bearish trend line, investors continue to flock to new AI meme coin WienerAI (WAI) for parabolic gains.
A Sophisticated And Loyal Trading Companion
WienerAI (WAI) is a new meme coin that is backed by sophisticated predictive technology. With the help of its AI models that are fine-tuned for the crypto markets, WienerAI aims to become a loyal companion for traders.
In addition to its intelligent analytical systems, the light-hearted crypto also provides its holders with MEV protection and a seamless token swap solution. Not only does this ensure that WAI investors are never front-run by MEV bots again, it also enables token holders to capitalize on golden swap opportunities as soon as they appear.
What’s more, all of these powerful features come with zero fees. This means that investors and traders can focus solely on navigating the crypto markets and making more informed decisions without having to worry about covering any transaction fees.
With everything the project has to offer, combined with its appeal to highly-active meme coin investors, it is no wonder crypto YouTuber ClayBro is bullish on WienerAI. In a recent video, he told his 130,000 subscribers that WAI could soar 10x.
An Investor Frenzy Erupts Around WAI
Investors are rushing to buy into WAI during its ICO phase, with more than $6.4 million sent to the meme coin’s presale already. One potential factor that could be behind this investor frenzy might be the lucrative staking opportunity available within the WienerAI ecosystem.
Anyone that buys WAI at this ground stage and locks their tokens up can earn up to 180% in annual rewards. Getting in on this opportunity is simple. All investors will need to do is acquire the crypto through the simple buy widget embedded on the project’s website.
This Wiener is taking off … 🚀 pic.twitter.com/vTULsSqMd2
— WienerAI (@WienerDogAI) June 23, 2024
Selling for $0.000722, WAI can be bought using either ETH, USDT, BNB or bank card. Once purchased, the tokens will need to be staked for the high APY. Potential buyers will want to act fast, because WAI’s price is scheduled to increase during the subsequent stages of its presale.
Purchase and stake WAI here for up to 180% in annual rewards.
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