AIOZ Network price has been on a tear lately. The price of the digital asset which resides on the Ethereum blockchain, exploded last week and surged 283%. However, due to profit-taking and the recent bearish developments, the altcoin is experiencing a major pullback.
At press time, AIOZ crypto stood at $0.047 after a 9.89% drop during today’s trading session. This means an overall weekly loss of 27.7% for the 428th biggest coin by market capitalization. In the past 24 hrs, almost $5 million worth of AIOZ has traded on different crypto bourses.
Today’s sell-off in altcoins can be attributed to the Binance’s $4 billion settlement with the DOJ. The crypto community was also jolted by the news of the resignation of Binance CEO, Changpeng Zhao who has been the industry’s heartthrob.
A high timeframe technical analysis reveals that the AIOZ Network price prediction is looking fairly bullish. There is still a possibility of a retest of the $0.112 level which could be the next resistance level. The invalidation for this outlook will be a breakdown below $0.054.
