Aethir Price Prediction As ATH Rockets 127% on Ethereum Mainnet Launch Amidst Trading Volume Surge
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Aethir, a prominent decentralized physical infrastructure network (DePIN) provider, has witnessed a staggering 127% surge in its price within the last 24 hours, to trade at $0.0964.
This remarkable increase follows the platform’s successful launch on Ethereum’s mainnet. The surge was further fueled by a monumental 914% spike in trading volume, which soared to $214 million.
This substantial growth underscores Aethir’s emergence as a major player in decentralized cloud computing, offering enterprises, data centers, cloud providers, and cryptocurrency miners a robust GPU-as-a-service solution.
Enterprises and developers can now lease computing resources from the Aethir network of providers to support tasks such as training artificial intelligence (AI) models or rendering digital content on a large scale.
Aethir utilizes the native ATH token, leveraging Ethereum for staking capabilities and Arbitrum (ARB) for rapid payments to computing providers. Additionally, it utilizes community rewards for checker nodes to ensure quality assurance.
During Aethir’s testnet phase, it attracted over 500,000 users and raised $146 million through a node sale. The project also garnered support from industry giants like Nvidia, Super Micro, HPE, and Foxconn.
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Aethir Price Bounces on Support Level Within A Rising Channel
Currently, Aethir price is attempting to break out above a rising channel. After bouncing off the support level around $0.0907, it has entered an uptrend, fluctuating between this support and the range of $0.0907 to $0.1061.
ATHUSD Analysis (Source: Dextools.io)
There is a notable accumulation in the Aethir market, with bullish investors aiming to surpass the significant barrier at $0.01399. If ATH manages to close a one-hour candle above the channel, it could establish a strong technical foundation, potentially setting the stage for short-term gains.
Traders may consider opening long positions in anticipation of ATH entering an upward price discovery phase.
Technical analysis of ATH’s 1-hour chart reveals bullish momentum, with both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicating promising trends. The recent MACD line crossing above the MACD Signal line from a neutral position is interpreted as a bullish signal, suggesting a positive short-term outlook. Furthermore, the histogram bars are green, indicating strong buying pressure for the ATH price.
The Relative Strength Index (RSI) remains bullish above the 50 midline level, showing an upward trajectory without entering overbought territory. However, resistance at the $0.0913 level has caused the RSI to trend towards the 50 midline.
Moreover, the price trades above the 50 and 21 simple moving averages, providing additional support. The moving average cross at $0.0675 reinforces positive ATH price sentiment.
Aethir Price May Face A Short Term Decline
The ATH Price bulls may to drive the price upward with the support of the technical indicators, which are generally bullish. A further increase in momentum should drive the price to the $0.1356 new all-time high.
Aethir has faced resistance at the $0.1061 level, tempering bullish sentiment. In such a scenario, ATH might revisit the $0.0964 support level, with sustained selling pressure potentially pushing it down to as low as $0.0804 in the near term.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.