Telegram Coin PAAL AI Flashes Buy Signal, Rallies 28% in a Day

Source Beincrypto

Telegram Coin PAAL AI (PAAL) is noting gains over the last 24 hours owing to the broader market’s bullish cues.

Combined with the increasing participation, the altcoin could see some accumulation at the hands of investors thanks to the rise in buying pressure.

Giving PAAL AI a Shot

PAAL’s price has been up by a double-digit percentage in the last day. As the price begins to recover, PAAL AI active addresses continue to decline, which is not a bullish sign for price action. 

But over the last few days, the participation has risen. The number of active addresses is a key indicator of network activity and user engagement. When this metric is inclining, it often signals increasing interest or participation, which can positively impact the price.

PAAL Active Addresses. PAAL Active Addresses. Source: Santiment

On the other hand, PAAL’s Relative Strength Index (RSI) is entering the bullish zone. The RSI is a momentum oscillator that measures the speed and change of price movements. An RSI entering the bullish zone suggests that the asset is gaining upward momentum.

This rise in RSI indicates a potential increase in buying pressure. When the RSI moves into the bullish zone, it often reflects growing investor confidence and a stronger likelihood of price appreciation.

Read More: Crypto Telegram Groups To Join in 2024

PAAL RSI.PAAL RSI. Source: TradingView

These indicators together point to a bullish outcome for the Telegram Coin.

PAAL Price Prediction: Barriers Ahead

At the time of writing, PAAL’s price is at $0.25, attempting to breach the resistance at $0.25 and potentially flipping it into a support level. Despite the 28% rise in the last 24 hours, the Telegram Coin has only managed to invalidate one resistance level.

It still has a long way to go in order to confirm recovery, first of which requires flipping $0.31 into support. Once this happens, the altcoin can continue its bull run to regain the losses noted throughout May and June.

Read More: What Are Telegram Bot Coins?

PAAL Price Analysis.PAAL Price Analysis. Source: TradingView

However, if the breach is the Telegram Coin PAAL, it could end up testing $0.25 or $0.20 as a support floor. This would invalidate the bullish thesis, resulting in consolidation for the altcoin.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Author  FXStreet
Jul 01, 2024
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
placeholder
AUD/USD: Current price action is likely the early stages of a recovery – UOB GroupAustralian Dollar (AUD) is likely to trade in a sideways range between 0.6220 and 0.6290. In the longer run, current price action is likely the early stages of a recovery phase that could potentially reach 0.6350, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
Author  FXStreet
Jan 22, Wed
Australian Dollar (AUD) is likely to trade in a sideways range between 0.6220 and 0.6290. In the longer run, current price action is likely the early stages of a recovery phase that could potentially reach 0.6350, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
placeholder
Five bullish Shiba Inu (SHIB) Price Predictions for April 2025SHIB price targets diverge as investors weigh Shibarium L3 upgrades, burn-rate surges, and altcoin market sentiment. Forecasts range from a conservative $0.000012 to a parabolic $0.00030.
Author  FXStreet
Apr 16, Wed
SHIB price targets diverge as investors weigh Shibarium L3 upgrades, burn-rate surges, and altcoin market sentiment. Forecasts range from a conservative $0.000012 to a parabolic $0.00030.
placeholder
Gold price slides back closer to $3,300 amid positive risk tone, modest USD uptickGold price (XAU/USD) trades with a negative bias for the second consecutive day, though it lacks bearish conviction and holds above the $3,300 mark during the Asian session on Wednesday.
Author  FXStreet
20 hours ago
Gold price (XAU/USD) trades with a negative bias for the second consecutive day, though it lacks bearish conviction and holds above the $3,300 mark during the Asian session on Wednesday.
placeholder
Gold extends consolidation ahead of key US data releasesGold price (XAU/USD) continues to trade in a narrow range around $3,300 on Wednesday as traders await key US economic data, which could become the catalyst for an imminent breakout. 
Author  FXStreet
18 hours ago
Gold price (XAU/USD) continues to trade in a narrow range around $3,300 on Wednesday as traders await key US economic data, which could become the catalyst for an imminent breakout. 
goTop
quote