AI16Z – A potential rally to $2.6? Top traders have THIS to say!

AI16Z could decline further before rebounding and rallying to $2.6
Top traders on Binance and OKX traders are now accumulating the token, placing significant buy orders

Over the past week, AI16Z has fallen by 19.05% on the charts. In the last 24 hours alone, it dropped by another 4.59%, with more downside potential based on its chart patterns.

However, according to AMBCrypto’s assessment, top traders on Binance and OKX seem to be diverging from the broader bearish sentiment. This implies that there may be some optimism among experienced market participants, despite the altcoin’s prevailing bearish structure.

Is a drop imminent for AI16Z?

AI16Z has been trading within a month-long ascending channel on the daily chart, characterized by a series of higher highs and higher lows within a defined range of support and resistance.

At the time of writing, the price had retreated from the channel’s resistance level, forming a lower low as the asset begun to decline steadily.

Source: TradingView

Based on this analyst’s chart, it can be predicted that this drop will stop at the 0.618 Fibonacci retracement level. This would be in line with the ascending channel’s base at approximately $0.80 – A level considered a key support zone for the cryptocurrency

From this support zone, AI16Z has the potential to rebound and rally to $2.60, representing significant gains of 325% from the $0.80-level.