The cryptocurrency AI16Z recently experienced a decline in price, reaching $1.010946 USDT on January 18, 2025, after a 13.26% decrease. Despite this bearish movement, the asset remains within an uptrend channel supported by Fibonacci retracement levels. Analysts suggest that the asset may find support near $0.80 and could potentially rebound towards $2.60. The price has shown a short-term bearish structure with lower highs and lower lows, but it has held key support at the 0.618 Fibonacci level, indicating potential for recovery. Historical data shows a resistance zone near the 0.786 Fibonacci level at $1.316893 USDT, and a break above this level could confirm bullish momentum. The asset has consolidated around $1.00 USDT, forming a support zone and potentially a double-bottom pattern. Bullish candles have emerged, breaking the immediate resistance at $1.1755 USDT and indicating renewed buyer interest. Key resistance levels at $2.00 and $2.50 USDT are important targets for a sustained bullish breakout. The current market structure suggests an accumulation phase within a broader uptrend. Fibonacci levels between $0.556 and $0.793 are likely to attract buying interest if tested again. The final candle of the session showed an 8.61% increase, reflecting optimism among traders for a reversal. However, it is important to closely observe support and resistance zones due to price volatility.



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