AIXBT price surges 20% as bulls attempt to break above the top of the breakout rally.
AIXBT (AIXBT) is up almost 20% in the past 24 hours, currently trading at $0.19, with 24-hour trading volume up surging 50%.
Today’s surge marks bulls’ attempt to break above the local high of $0.21 achieved on May 1, marking the top of the breakout rally that began on 23 April. With that breakout, AIXBT decisively moved out of the consolidation range between $0.06 and $0.10, where it had traded sideways since April 3. Prior to that, the price had been consolidating in a slightly higher range of $0.09 to $0.12, which eventually broke down.
The April 23 breakout sparked a rally from $0.10 to a peak of $0.21, delivering a 110% gain. With today’s move, bulls are attempting to resume that momentum and push through the key resistance at $0.21, which remains the next critical level to watch for trend continuation. If they fail to do that, this will likely mark a consolidation under resistance, or potentially a lower high, depending on upcoming candles.
Momentum remains firmly bullish, with the RSI currently at 64, approaching the overbought zone. However, the RSI on today’s candle remains well below the peak reading of 78 seen on May 1, which helps explain the sharp pullback that occurred afterward.
The MACD line continues to trend above the signal line, and the histogram continues to print green. However, the histogram bars are shrinking, indicating that momentum is weakening, even though the trend is still intact.
The price is also trading above both the 20 EMA and 50 SMA, with the shorter-term 20 EMA crossing above the 50 SMA around April 27 — a bullish crossover that signals a potential trend reversal.
If momentum holds and price breaks above the immediate resistance at $0.21, the next target lies at $0.25 — a key psychological and horizontal resistance zone where the price consolidated for over a week in February after a sharp leg down following its all-time high in January. A further upside push could bring $0.30 into view, although that level is weaker.
