Aethir’s price rallied 85% over the past week, driven by several bullish ecosystem developments, including expectations that the project will conclude Q3 with record-breaking earnings.
Summary
- Aethir price has rallied 86% over the last 7 days, supported by ecosystem developments.
- The project is closing in on its most successful quarter to date in terms of network revenue.
- A double bottom breakout on the daily chart points to 52% upside for the token over the coming weeks.
According to data from crypto.news, Aethir (ATH) token was trading at $0.058 on Sep. 15, afternoon Asian time, up almost 86% over the past 7 days and 132% above its year-to-date low recorded in July. The token has broken out of a double-bottom pattern, a highly bullish reversal pattern, that points to an eventual rally to as high as $0.088 in the coming weeks.
The daily chart shows that Aethir’s price has recently broken out of a double-bottom pattern that had been forming since the beginning of this year. In such a pattern, an asset’s price forms two successive troughs (which form the bottoms) at a similar price level, separated by a rebound that establishes the neckline. In ATH’s case, the neckline lies at $0.056, while the two bottoms were positioned around $0.025.
As of press time, the token’s price was close to retesting the neckline again. A rebound from this level would provide stronger confirmation of a bullish reversal and could lead to further gains.
More importantly, the shorter-term (50-day SMA) and longer-term moving averages (200-day SMA) are close to confirming a bullish crossover. Traders refer to this as a golden cross, a pattern that is typically followed by strong gains in the short term.
When taken together, the breakout from the double-bottom, the potential rebound from the neckline, and the looming golden cross create a strong confluence of bullish technical signals, a setup that indicates more upside momentum for Aethir’s price over the coming weeks.
The distance between the neckline at $0.056 and the bottoms at $0.025 is about 55%. Measuring the same distance upward from the neckline gives a breakout target of $0.088. This target stands roughly 52% above the current price level.
As such, the bullish ATH price forecast will remain as long as it is above the crucial support level at $0.44.
Catalysts that could fuel Aethir price surge
Aethir has multiple catalysts that could fuel its ongoing price surge. The team recently reported that the Aethir Network recorded back-to-back revenue highs in July and August, averaging around $13 million per month. Investors now anticipate similar strong performance this month, which could mark Q3 as the project’s strongest quarterly results to date.
Such strong performance could attract fresh investor interest in the token this week.
The Layer-2 network has also integrated the ATH-USD price feed from Pyth Network, enabling reliable, real-time pricing across DeFi applications. The development strengthens Aethir’s presence in the broader decentralized ecosystem and enhances its utility for on-chain trading and lending platforms.
Other bullish factors include Aethir’s participation in the upcoming Korea Blockchain Week, its role in launching the AI Unbundled alliance, and its partnership with IoTeX as an ecosystem collaborator. These strategic moves expand Aethir’s visibility, strengthen its positioning within both the AI and blockchain sectors, and further enhance long-term growth prospects.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.