According to data from crypto.news, ChainOpera AI (COAI) has experienced a dramatic surge, soaring from $5.24 on Oct. 9 to an all-time high of $43.81 by Monday. However, the rally proved short-lived, as the token plunged nearly 90% to $5.47 the following day before rebounding sharply. At the time of writing, COAI trades around $23, maintaining a 350% weekly gain and an astonishing 6,100% increase since launch.
Over the past week, COAI has seen exceptionally high trading activity, signaling strong investor interest. Its market capitalization jumped from about $1 billion on Oct. 9 to more than $4.5 billion, while 24-hour trading volume rose 17% to $243.5 million, suggesting traders remain highly engaged despite the token’s volatility.
Why is COAI price rising?
Several factors appear to be driving COAI’s explosive rally in recent sessions:
1. AI sector momentum
ChainOpera AI positions itself as an “AI infrastructure token,” and its surge coincides with a broader rebound in AI-related cryptocurrencies. This market revival was fueled by major developments in the tech industry — notably AMD’s partnership with OpenAI, following Nvidia’s $100 billion investment commitment to AI initiatives.
These partnerships have spotlighted the growing demand for intelligent compute networks, a sector that ChainOpera directly targets. Built on the BNB Smart Chain and offering a suite of AI-powered tools, the project has gained attention as a strong contender in the space.
The overall AI crypto sector has also strengthened, with its combined market capitalization rising over 5% to nearly $32 billion in the past week. Among these tokens, COAI has emerged as one of the top-performing assets.
2. Strong derivatives activity
COAI’s recent momentum has also been amplified by increased activity in the derivatives market. The token’s open interest grew by 5% in the last 24 hours, a signal that new capital is flowing into the market. Rising open interest alongside price and volume is generally seen as confirmation that an uptrend is gaining strength.
3. Short liquidations fueling the rally
Liquidation data reveals that $15.68 million in positions were wiped out over the past 24 hours, with shorts accounting for $11.16 million of that total. This imbalance indicates that bearish traders were caught off guard, and their forced liquidations further intensified COAI’s upward momentum.
COAI price analysis
On the 4-hour chart, COAI has printed consecutive green candles, rebounding sharply from its recent low of $14.48. The Supertrend indicator has also turned green, positioning its trend line below the current price — a technical setup many traders interpret as a fresh buy signal.
Momentum indicators reinforce this bullish outlook. The MACD continues to trend higher, with the gap widening between the MACD and signal lines—a classic sign of strengthening upward momentum. Technically, this pattern suggests that buying pressure is steadily increasing.
Meanwhile, the RSI has climbed above 70, entering the overbought territory. Although this typically points to the possibility of a short-term pullback, it doesn’t necessarily imply an imminent reversal. In strong uptrends like this, momentum often remains elevated for prolonged periods.
At the moment, $28.4 stands out as the key resistance level to monitor. A clear breakout above this zone could open the door for a retest of COAI’s all-time high near $44. Conversely, if the price slips below $17.6, the market structure may turn bearish, potentially setting off a deeper correction.
That said, on-chain data from Nansen adds a note of caution. Over the past week, the number of COAI tokens held on centralized exchanges has risen from 47.48 million to 55 million. This uptick suggests that some traders might be preparing to take profits or rotate their holdings into other altcoins.
While such behavior is common following strong rallies as investors look to lock in profits, an increase in selling pressure—particularly around key resistance levels—could lead to a consolidation phase or even a deeper pullback before COAI attempts another upward move.
