PAAL AI price experienced a notable recovery from the support level following the identification of a double bottom pattern on the charts. This resulted in a significant price increase of approximately 68% in just one week, showcasing a strong resurgence by the bulls.
The recent market activity demonstrated a rise in buying pressure, hinting at a possible end to a previous correction phase. Key on-chain metrics, such as 24-hour active addresses, have seen substantial growth, confirming the breakout from the correction phase.
PAAL AI is represented by a token on the Ethereum blockchain, offering holders profit-sharing and token buyback mechanisms to drive demand and value. Users can acquire tokens through interaction with AI services, referrals, and community contributions.
Increasing Active Addresses
PAAL AI has exhibited impressive performance recently, climbing from $0.182 to $0.312, marking a gain of 68.7% within a week and over 40% in a month. Despite this positive momentum, PAAL AI still stands 63.18% below its previous all-time high of $0.33 set four months ago.
If the price maintains its upward trajectory, the bulls could recover their losses. Notably, the 24-hour active addresses have observed a significant increase in recent trading sessions, with a nearly 30% surge in the number of addresses participating.
With active addresses climbing from 239 to 324, there has been a notable rise in user engagement. Active addresses serve as a metric for unique users engaging in transactions, and a surge in this number typically signifies growing demand.
Breaking Out of the Correction Phase
PAAL AI has attracted investor attention with a substantial weekly surge of nearly 68%. This surge validates the double bottom pattern formation on the charts, indicating a potential bullish reversal.
Moreover, the daily chart reflects a breakout above a trendline resistance that previously hindered the bulls’ progress. A sustained breakout above this resistance level signals the end of the correction phase, but continued upward momentum is essential to confirm the breakout.
A sustained upward movement could propel the PAAL AI price towards the next resistance at $0.485, representing a potential gain of approximately 53%. However, a close below $0.252 would invalidate the breakout, leading to a price decline.
PAAL AI has demonstrated strong performance, with a notable 68.7% surge in a week and over 40% in a month. Despite this positive trend, the token remains 63.18% below its previous all-time high of $0.33 from four months ago. Additionally, the growth in 24-hour active addresses by 30%, from 239 to 324, further highlights increasing user engagement.
The recent price surge aligns with a potential bullish reversal signaled by the double bottom pattern and breakout of trendline resistance. A sustained move above the trendline could propel the price to $0.485, marking a potential 53% increase. However, failure to stay above $0.252 would negate the breakout and trigger a downward move.
