PAAL AI price noted a strong rebound from the support after a double bottom pattern was observed on the charts. The price surged nearly 68% in a week indicating a strong comeback by the bulls.
The recent sessions displayed rising buying pressure which may possibly result in the termination of a preluding correction phase. An important on-chain metrics, 24H active addresses, recorded significant growth confirming a breakout from a correction phase.
PAAl AI is represented by a token on the Ethereum blockchain, providing holders with profit-sharing and token buybacks to enhance demand and value. Users can earn tokens by engaging with our AI services, making referrals, and contributing to the community.
Active Addresses on the Rise
PAAL AI revealed strong performance this week rising from $0.182 to $0.312 gaining 68.7% a week and over 40% a month. Despite a strong performance, PAAL AI lies 63.18% lower than its all time high of $0.33 recorded four months ago.
The bulls may recover losses if the price continues to soar. The 24H active addresses recorded a significant growth in recent sessions. There has been a nearly 30% growth in the 24 hour active addresses in the last couple of sessions.
The number of active addresses surged from 239 to 324, indicating an impressive growth in the number of users. The active addresses reflect the number of unique users that have participated in a transaction. An increment in the active addresses generally indicates heightened demand.
Can PAAL AI Break Out of the Correction Phase?
PAAL AI has attracted investors with a weekly spike of nearly 68%. This rise validates the formation of a double bottom pattern on the chart, suggesting a bullish reversal.
Additionally, the daily chart highlights a breakout of a trendline resistance which has been acting as a hurdle for the bulls in the recent sessions. A breakout above the trendline resistance marks an end to a correction phase. However, the bulls need to sustain higher in order to validate the breakout.
A sustained move on the higher side, may help PAAL AI price gain nearly 53% till the next supply at $0.485. However, if it closes below $0.252, the breakout would be invalid as the price would decline.
PAAL AI has shown strong performance, rising 68.7% in a week and more than 40% over the month. Despite this, it remains 63.18% below its all-time high of $0.33 from four months ago. Moreover, on-chain metrics show a 30% growth in 24-hour active addresses, increasing from 239 to 324.
Furthermore, the recent surge supports a bullish reversal, indicated by a double bottom pattern and a breakout of trendline resistance. Now, if the price sustains above the trendline, it could reach $0.485, rising nearly 53%. However, a close below $0.252 may invalidate the breakout and trigger a decline.