Rose

bullish

Aleph Zero

Zero

Coin

<p><a href="https://www.thecoinrepublic.com/price-prediction/aleph-zero/">Aleph Zero (<strong>AZERO</strong>)</a> is a Layer-1 blockchain technology. It allows different developers to build on its platform safely within the best scalable architecture.</p> 
<p>For months, it was traded under the <strong>bearish influence</strong> and had dropped more than 60% from its supply zone of $1.50. However, the correction has come to an end, and fresh signs of pullback were spotted on the chart.</p> 
<p>This week, a massive rebound took place, and the token jumped over 45%. It crossed the 20-day EMA mark with a strong upsurge in trading volume, which signified the demand resurgence.</p> 
<p>Amidst the market’s mixed sentiments, the AZERO token gave a strong conviction that something big was cooking in it. The token seemed ready to explode ahead.</p> 
<p>Meanwhile, the trend continued reflecting the downside at press time. The token was yet to execute the reversal. Once it crossed $0.600, a confirmed reversal could take place ahead.</p> 
<p>Last week, a sharp bullish marubozu candlestick was formed. However, the token failed to cross the 50-day EMA and struggled below it.</p> 
<h2 class="wp-block-heading" id="h-azero-at-press-time"><strong>AZERO at Press Time</strong></h2> 
<p>At press time, the AZERO price was trading at $0.515 with an intraday surge of 14.36%. It reflected a bullish sentiment on the chart. It has a monthly return ratio of -10.90% and -44.30% yearly, reflecting a long-term downtrend.</p> 
<p>The pair of AZERO/BTC was at 0.00000798 BTC, and the market cap was $151.46 Million. Analysts were neutral and suggested <strong>AZERO </strong>may retain the gains and see a reversal soon.</p> 
<h2 class="wp-block-heading" id="h-azero-gained-momentum-breakout-imminent"><strong>AZERO Gained Momentum: Breakout Imminent?</strong></h2> 
<p>Following the surprising price recovery, the<strong> AZERO token price</strong> has crossed the 20-day EMA after a long time. It is poised to extend the bullish wave ahead.&nbsp;</p> 
<p>Once the token manages to cross the pivot of $0.5600, it may sprint toward $0.600 soon.</p> <iframe loading="lazy" title="Santiment Chart: Price (AZERO), Volume (AZERO)" width="800" height="425" src="https://embed.santiment.net/chart?ps=aleph-zero&amp;pt=AZERO&amp;df=2024-02-23T00%3A00%3A00.000Z&amp;dt=2024-08-01T18%3A29%3A59.271Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>The <strong>RSI curve </strong>showed a sharp vertical spike and rose to the overbought zone, noted at 57. That highlighted a sharp increase in the buying pressure. Likewise, the MACD indicator plotted the green bars and implied the beginning of an uptrend.</p> 
<p>Notably, the price action witnessed a beginning of accumulation. Buyers have been anticipating a significant breakout beyond the cluster of $0.6000.</p> 
<h2 class="wp-block-heading" id="h-social-dominance-and-weighted-sentiment-data-nbsp"><strong>Social Dominance and Weighted Sentiment Data&nbsp;</strong></h2> 
<p>Following the sudden price rise, the weighted sentiment data noted a spike and rose toward the positive region. It implied a shift in the market dynamics. Investors changed their sentiment on it and looked confident to buy AZERO now.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (AZERO), Social Dominance (AZERO)" width="800" height="425" src="https://embed.santiment.net/chart?ps=aleph-zero&amp;pt=AZERO&amp;df=2024-02-23T00%3A00%3A00.000Z&amp;dt=2024-08-01T18%3A29%3A59.271Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bsocial_dominance_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The social dominance data projected a surge in media chatter among investors and an increased buzz on social media platforms.</p> 
<p>@TheBirbNest, in his tweet, mentioned that a single 4-hour candlestick flipped months of a downtrend. The bears look trapped now.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">This is <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4af.png" alt="💯" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Weeks, months of downtrend can be blown away with one 4-hour candle, as we now see on <a href="https://twitter.com/search?q=%24AZERO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AZERO</a>.<br><br>The bears are happy spreading FUD and then out of nowhere they are gone.<br><br>Love to see it, <a href="https://twitter.com/Aleph__Zero?ref_src=twsrc%5Etfw">@Aleph__Zero</a> fam eating today!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f199.png" alt="🆙" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Al4GB3LWuY">pic.twitter.com/Al4GB3LWuY</a></p>— THE ₿IRB NEST (@TheBirbNest) <a href="https://twitter.com/TheBirbNest/status/1818639090864046436?ref_src=twsrc%5Etfw">July 31, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p><strong>AZERO </strong>may fall toward the support zone of $0.4800 if it fails to extend the pullback wave. It can also happen if it faces rejection from its 50-day EMA mark. This would be followed by $0.4500.&nbsp;</p> 
<p>Conversely, if it sprints ahead, it may face the upside hurdle of $0.5800, followed by $0.6000 on the upper side.</p> 
<p>Notably, the signs of a fresh reversal were noted after a long downtrend. The token plotted a massive, long, bullish bar, trapping the bear army. Once the token crosses the 50-day EMA mark, a sharp, short-covering move can be seen ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/02/azero-rose-48-this-week-is-it-a-bear-trap-or-reversal/">AZERO Rose 48% This Week: Is It A Bear Trap or Reversal?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

AZERO Rose 48% This Week: Is It A Bear Trap or Reversal?

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