AIOZ network looking to end a corrective decline
AIOZ is an Ethereum token that powers Aioz Network, a (dCDN) Layer 1 blockchain: Decentralized Content Delivery Network. It powers AI computation, data storage, and seamless media streaming for decentralized applications (dApps) within the network.
Starting in September of last year, AIOZ rallied for seven straight months, achieving a 9600% advance in wave ((1)). Down from there, it started a correction to the downside within wave ((2)).
The coin faced a 60% decline over 7 swings, forming an Elliott Wave Double Three structure. It’s currently reaching our extreme blue box in the equal legs area of $0.43 – $0.10. We expect wave ((2)) to finish here and a new upward move to start in wave ((3)).
Consequently, AIOZ investors will look to accumulate around this blue box area. They anticipate the next daily cycle to the upside or at least a larger bounce from there.
AIOZ daily chart 6.25.2024
Setup recap
-Time Frame: Daily.
-Entry Area: $0.43 – $0.30.
-Invalidation Condition: Daily Close below $0.1.
-Target: $1.45.
-Ratio: 3 RR.
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
