With digital asset markets beginning to look more bullish, Project PAI’s $PAI token seems to be setting up for a rally. The Artificial Intelligence powered online profile platform token seems set for a +100% move in the next few weeks.
Cayman Islands based Personal Artificial Intelligence, or ProjectPAI for short – which is a blockchain platform leveraging Artificial Intelligence to deliver autonomous social media profiles – has been hard at work since launching their mainnet in 2018. The project recently announced making headway, releasing an Android and iOS update for their PAI UP mobile wallet.
The autonouns online avatar platform’s token, $PAI appears to have been jolted into life by the May 31st announcement – that, and the release of a demo of the network’s data protocol. The token has been slowly ticking upwards in the past few days, breaking through a key resistance level, just over 48 hours ago.
With a circulating supply of over 1.5 billion tokens, collectively generating a market capitalization of $45.2 million, the $PAI digital asset – at time of writing – is down on the day. Iin the current period (4hr timeframe) after having achieved daily highs above the $0.032 mark.
The asset’s price action appears to be preparing to retest the $0.0281 price level, after flipping it from resistance to support, a few trading periods ago. Having achieved a high of $0.030842 in the current 4hour period, as well as a low of $0.029124, the $PAI token is currently priced at $0.029307.
Price action remains wide of the Ichimoku cloud, which indicates an upward jump may be on the cards. The Stochastic corroborates the Senkou A line’s story, also flashing a bullish divergence pattern. The most immediate resistance level to beat – since the last one is the current floor – seems to be the $0.46 price level.
If trading volume continues to build over the next few weeks, and the coin crosses above the $0.08 price level, then a re-challenge of the $0.14 price level should then come into play. No market goes straight up however, so traders are cautioned to remain vigilant (keep an eye on indicators,) and expect the odd retrace, or two.
The daily timeframe, on the other hand, suggests that price action is at the foot of what may shape out to be a 1,600% price run over the next month. Though price action currently trades below the cloud, it is moving closer to the cloud, with the Senkou B line running flat. Senkou divergence indicates that there may be a breach that sees prices assuming upward volatility, the Senkou A, turning upward will offer more confidence.
