AI16Z Dips While ARC Gains as Whale Holds $14.84MWhats Next?
- Whales strategic trades yield $4.38M in unrealized gains from ARC and AI16Z holdings.
- ARC maintains an uptrend, with $0.0120 as key support and $0.0135 as strong resistance.
- AI16Z faces volatility, with $0.4750 as support and $0.5000 as key resistance level.
A prominent whale has demonstrated a strong ability to capitalize on market movements by buying low and selling high. According to Lookonchain data, this investor currently holds 14.76 million AI16Z tokens worth $7.75 million and 17.21 million ARC tokens valued at $7.09 million.
The unrealized profits stand at approximately $4.38 million, reflecting the whales strategic market timing. Both ARC and AI16Z tokens have exhibited significant price action, with key support and resistance levels shaping their near-term outlook.
ARC Token Price Trend and Market Movement
ARC has shown a bullish trajectory, with its price currently at $0.01244, reflecting an 8.88% increase over the last 24 hours. The market cap has surged by 9.02%, reaching $11.34 million, while the 24-hour trading volume has jumped by 86.21%. This spike in volume suggests increased market interest and liquidity.
Source: CoinMarketcap
After a period of sideways movement, ARCs price surged sharply, reaching a peak of $0.0135 before experiencing a slight pullback. However, the token remains above key support levels, indicating continued strength. The overall price action suggests that ARC is maintaining an uptrend despite brief corrections.
Key Support and Resistance Levels for ARC
The $0.01143 level serves as a strong support, representing the lowest price observed recently. Additionally, $0.0120 acts as a psychological support, a level where the price has previously consolidated before moving higher.
On the resistance side, $0.0135 is a crucial barrier, marking the highest point of the recent rally, while $0.0130 remains a minor resistance where price rejection has occurred.
If ARC maintains support above $0.0120, it may retest the resistance zone between $0.0130 and $0.0135. However, a drop below $0.0120 could push the price toward the $0.0114 support level, creating a bearish scenario.
AI16Z Token Price Overview and Market Analysis
AI16Z is currently trading at $0.4841, marking a slight decline of 0.48% over the past 24 hours. The market cap has also decreased by 0.48% to $532.54 million, while the 24-hour trading volume has dropped by 13.72%, signaling reduced liquidity.
Source: CoinMarketcap
During the latest session, AI16Z experienced high volatility, initially dipping below $0.48 before rebounding sharply to $0.575. However, the token later pulled back, reflecting fluctuating market sentiment. This volatility suggests traders are actively engaging with AI16Z, leading to sharp price swings.
Support and Resistance Levels for AI16Z
Immediate support for AI16Z is at $0.4750, a level where the price has bounced multiple times. Further below, $0.4600 serves as a stronger support, followed by $0.4400, which represents a major historical support zone.
On the upside, the $0.5000 mark is a significant psychological resistance. Breaking above this level could lead to a test of $0.5250, where selling pressure has been evident. The $0.5750 level represents the highest point of the recent uptrend, and a breakout above it could trigger a strong bullish move.
If AI16Z remains above $0.4750, it could retest the $0.50$0.5250 range. However, a drop below this threshold might push the price toward $0.4600 or even $0.4400 in a bearish scenario.
Read more: https://www.tronweekly.com/ai16z-dips-while-arc-gains-as-whale/
Text source: TronWeekly
