Ethereum News Today: AIOZ Surges 19% Weekly 68% Monthly on Ethereum Bull Run as Harmonic Pattern Targets 34% Rally to $0.6261

AIOZ Network (AIOZ) has emerged as a focal point in the cryptocurrency market amid a broader bullish trend driven by Ethereum (ETH). Over the past week, ETH surged 18% to exceed $3,715, while AIOZ posted a 19% gain in seven days, extending its monthly rally to 68%. Technical analysts are now highlighting a developing harmonic pattern that could signal further upward momentum for AIOZ before encountering key resistance levels.

The daily chart for AIOZ reveals the formation of a Bearish ABCD harmonic pattern. Although classified as bearish, this structure historically generates bullish momentum during the CD leg of the pattern. The pattern’s trajectory began at $0.1700 (Point A), surged to Point B, retraced to $0.2528 at Point C, and is now advancing along the CD leg toward Point D. The CD leg is typically the most powerful phase, attracting traders who capitalize on trend continuation.

Technical analysis suggests AIOZ’s next target lies within the Potential Reversal Zone (PRZ) aligned with the 1.27 Fibonacci extension of the BC leg. This projection indicates a potential rise to $0.6261—a 34% increase from current levels. The symmetry between the AB leg and the projected CD leg strengthens the pattern’s validity, as it aligns with historical price behaviors observed in similar setups.

For the bullish case to remain intact, AIOZ must hold above its 200-day moving average at $0.4328. This level currently acts as a critical support. A breakdown below this threshold could undermine the uptrend’s momentum, potentially delaying the projected move toward the PRZ. Analysts caution that while the harmonic pattern provides a compelling case for upside, market conditions and external factors could influence the outcome.

The broader cryptocurrency market’s bullish sentiment, fueled by ETH’s performance, has created a favorable environment for altcoins like AIOZ. However, the path to $0.6261 remains contingent on maintaining key technical supports and managing volatility. Investors are advised to monitor the 200-day moving average closely, as its role as a barrier to further gains cannot be overstated.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry inherent risks, and readers are encouraged to conduct independent research before making decisions.