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AI16Z/USD pair gained more than 22% after breaking significant resistance $0.22. It hits an intraday high of $0.2814 and is currently trading around $0.2776.
Overall bias remains bullish as long as support $0.10 holds. It trades above the 34 and 55 EMA on the 4-hour chart. Any breach below $0.10 will drag the pair to $0.05/ Near-term support is around $0.1750.
Immediate Resistance is at $0.30. A successful breakout above this resistance could suggest bullish momentum, with further gains possible toward $0.3580/$0.4195/$0.50.
Indicators (4-Hour Chart)
- Directional Movement Index: Bullish
- CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $0.2500 with a stop-loss set at $0.1750 and a target price of $0.50.
