The AI16Z token has experienced an 8% price surge and a 34% increase in trading volume over the past 24 hours. However, technical indicators suggest that this bullish momentum may be short-lived, as the token's rally appears to be fueled by speculative trading. The altcoin has broken below its 20-day exponential moving average (EMA), indicating weakening bullish momentum and a potential shift to a bearish trend. The negative Elder-Ray Index further supports this bearish outlook, indicating strengthening bearish pressure. If this continues, the token's price could plummet below $1 and potentially drop to $0.68. However, if there is a spike in actual demand, the token price could rally towards its all-time high of $2.50.



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