Why is XAI Token Surging? Analyst Says ‘Consolidation Breakout Retested’ – Here’s His Outlook

The price of XAI, the native token of the XAI gaming ecosystem, has seen a significant pump over the last few hours. According to the latest pricing data, XAI is currently trading at $1.50, up over 17% in the last 24 hours on a trading volume of $204 million.

This latest price movement comes as XAI prepares to launch major updates to its staking program. XAI_GAMES announced via the X platform (formerly Twitter)  that version 1 of XAI staking will go live next week, with version 2 slated for release in March. 

Market Analysts’ Optimistic Views

Consequently, some market analysts have noted bullish technical patterns emerging for XAI. Kings Charts, posted on X that XAI shows signs of a consolidation breakout retest. They believe this could propel the asset to new all-time highs, tweeting “$XAI Consolidation breakout retested done now moving for new ath price discovery mode. 14% since entry. Send it 1.7 2$.”

CCHCharts also noted the bullish technical setup for XAI, pointing out a bullish pennant pattern on the daily chart. They set similar short-term price targets between $2-2.5.

XAI aims to bring real economies and open trade to the next generation of video games. The platform enables traditional gamers to truly own valuable in-game assets and trade them outside the closed ecosystems of popular games. As a result, the upcoming staking features are garnering significant interest from investors, believing it will drive further adoption and usage of the XAI token.

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With the hype and momentum around the project continuing to build, XAI looks poised to see its strong price performance continue in the sessions ahead. Crypto investors will be closely monitoring the release and reception of the new staking updates, which could provide the next catalyst for a major upside in the XAI token price.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.