Chainopera AI price has gone parabolic over the past 24 hours, reaching an all-time high of $2.82 on October 6 before cooling off as traders closed in on gains.
Summary
- Chainopera AI price rallied over 600% to hit an all-time high of $2.82 on October 6.
- The token was listed on Aster.
- CoAI has invalidated a bullish flag pattern, with some other technicals also turning bearish.
According to data from Crypto.News, Chainopera AI (COAI) shot up 642% to an all-time high of $2.82 before settling at $1.94. At this price, the token still remains up 850% over the past 7 days, with its daily volume up 1,200% to over $423 million. The market capitalization has increased to $387 million with a circulating supply of approximately 196 million COAI tokens.
There are two main reasons why the token has risen lately.
First, Aster, one of the largest players in the perpetual dex industry and hyperliquid competitor, announced It had listed CoAI on the platform. The listing boosted the token’s visibility to a new base of investors who can now trade it with up to 5x leverage.
The token’s previous listing on Crypto Exchange Bybit may also support its recent gains. Additionally, it has gained support on Binance Alpha, with the potential for a full spot listing on the main Binance exchange in the future, a development that could further boost its price over time.
The second big catalyst driving Coai’s profits is the broader surge in AI-related tokens, which kicked off after news broke that AMD is to collaborate with openai. The chipmaker supplies chips to Openai, while the Chatgpt parent company takes an equity stake in AMD.
Such a partnership is bullish for Chainopera AI because it validates the importance of intelligent computing networks, precisely what Space Chainopera is building in. With a range of AI-driven products on the BNB smart chain, the project is uniquely positioned.
The AI Terminal connects users to a broad network of community-built agents through the AI Agent Social Network, making interactions between agents more collaborative and dynamic. Developers can build their own AI agents using a platform similar to Virtuals Protocol, and everyday users can interact with AI through a native chat interface that mirrors the chatgpt or grok experience.
After the latest rally, technicals have turned largely bearish for Coai as the token invalidated a bullish flag pattern on the hourly table.
A bullish flag is generally seen as a continuation pattern, where the price consolidates into a downward sloping channel after a strong upward move, before finally breaking upside.
However, in the case of Coai, the price broke below the lower flag trendline, making the setup invalid.
Such price action often shakes trader confidence, causing short-term bulls and momentum traders to take profits and adopt a more defensive stance, as an asset usually enters a period of sideways consolidation or a deeper correction if it does not confirm a bullish flag breakout.
At the same time, MACD has slipped below the signal line, with red histograms steadily building, while the Aroon is down a steep 92.86% and the Aroon is up at just 35.71%, serving as another telltale sign that upside strength has weakened significantly.
However, the bearish stance may be partially offset by the RSI returning to neutral levels, which often signals that selling momentum has cooled and the market is entering a more balanced phase.
This could give the token some room to stabilize as traders reassess its short-term direction before the next decisive move.
For now, $1.80, which coincides with the 50% Fibonacci retracement level, falls as the immediate downside support for the token, while on the upside, the resistance level to beat at $2.60. A decisive break above this point could open the door for a recovery back to $2.82, its October 6 high.
Disclosure: This article does not represent investment advice. The content and materials on this page are for educational purposes only.
