AIXBT by Virtuals [AIXBT] Forms Rounding Top Pattern, Will It Rally to a New ATH Before Year-End?

aixbt by Virtuals [AIXBT], has gained by over 290% in seven days. During this time, the altcoin's market capitalization has increased significantly

AIXBT Token by Virtuals has recorded over 290% gains in seven days. During this time, AIXBT’s market cap increased from $45M to $159M.

However, at press time, AIXBT was down by 6% to trade at $0.179, with a 12% decrease in trading volumes, as reported by CoinMarketCap.

After reaching an all-time high of $0.236 on the 30th of November, AIXBT has since dropped by 24%.

AIXBT's one-hour price chart on the 14th of December (Source: TradingView)

AIXBT Chart Analysis: A Rounding Top Pattern EmergesA technical analysis of AIXBT on lower time frames reveals the formation of a rounding top pattern on its one-hour chart.

This chart pattern usually precedes a reversal of the current trend, from bullish to bearish. In AIXBT's case, the rounding top could indicate an impending downturn.

Moreover, the rounding top is accompanied by an inverted volume pattern, which further strengthens the possibility of a bearish trend.

The RSI also created a buy signal, indicating that buyers might step in to buy the dip, setting the stage for further gains, possibly to record highs.

AIX-BT Price Analysis: A Key Support and Resistance Levels to WatchAIXBT is attempting to hold support at the neckline of the rounding top pattern at $0.165.

If it falls below this crucial support, it could lead to further dips.

On the other hand, if buyers step in to buy the dip, AIXBT could overcome these bearish trends and aim for resistance at $0.226.

If it flips this resistance, the altcoin could resume its uptrend and possibly reach a fresh all-time high.

AIXBT's Relative Strength Index (RSI) (Source: TradingView)

The Relative Strength Index (RSI) also provides a buy signal for AIXBT, as it crossed above the signal line, indicating that buyers might step in to propel this altcoin with further gains, possibly to record highs.

Traders should also keep an eye on the on-balance volume (OBV) indicator.

This metric flattened after a sharp drop, suggesting that the selling pressure paused, allowing for price recovery.

AI Coins Reverse Gains, Impact on AIXBT Token (AIXBT) Last week, many artificial intelligence (AI) cryptos recorded significant gains.

However, these coins have since retraced, with the downtrend coinciding with AIXBT's downturn.

Data from CoinMarketCap showed that in 24 hours, the total market capitalization for AI agents dropped by 6% to reach $7.4 billion.

The trading volumes for coins in this sector also decreased by 21%.

If the AI crypto sector stages another rally like the one seen last week, it could increase the chances of AIXBT reaching an ATH before year-end.

However, further dips could result in a steeper correction.