PAAL AI price has shown a strong rebound from support after forming a double bottom pattern on the charts. The price surged nearly 68% in a week, indicating a robust comeback by the bulls. Rising buying pressure in recent sessions suggests the end of a correction phase.
Active Addresses Surge
On-chain metrics reveal significant growth in 24-hour active addresses, confirming a breakout from the correction phase. PAAL AI, represented by a token on the Ethereum blockchain, offers profit-sharing and token buybacks to enhance demand and value. Users earn tokens by engaging with AI services, making referrals, and contributing to the community.
Weekly Performance and Growth
PAAL AI’s performance this week has been impressive, rising from $0.182 to $0.312, a 68.7% gain in a week and over 40% in a month. Despite this strong performance, PAAL AI remains 63.18% lower than its all-time high of $0.33 recorded four months ago.
Increasing Demand and User Activity
The number of active addresses has surged from 239 to 324, indicating a significant increase in user activity. This 30% growth in active addresses reflects heightened demand and participation in transactions, a positive sign for PAAL AI’s future price movement.
Potential for Further Gains
The weekly spike of nearly 68% validates the double bottom pattern on the chart, suggesting a bullish reversal. The daily chart highlights a breakout of a trendline resistance, which has been a hurdle for the bulls. A sustained move higher could see PAAL AI price reach $0.485, representing a 53% gain from current levels. However, a close below $0.252 would invalidate the breakout and potentially trigger a decline.
Conclusion
PAAL AI has demonstrated strong performance, with a 68.7% rise in a week and over 40% gain in a month. The increase in active addresses and the bullish reversal pattern indicate a positive outlook. If the price sustains above the trendline, further gains are likely. However, caution is advised as a close below $0.252 could lead to a decline.
