AGIX Price Faces 56% Plunge Risk Amid Bithumb Delisting News

AGIX price continues to plummet following its merger with Ocean (OCEAN) and Fetch.ai (FET). The latest setback is Bithumb, one of the top four crypto exchanges in South Korea, announcing the delisting of AGIX. This delisting couldn’t have come at a worse time, as the entire market recently lost over $60 billion in a significant downturn.

Bithumb to Delist SingulatityNet (AGIX)

Bithumb, one of the largest crypto exchanges in South Korea, will be withdrawing support for the SingularityNET (AGIX) token. The news follows the project’s merger with FET and OCEAN into a new token called the artificial superintelligence token (ASI). According to the official communication from Fetch.ai, AGIX, and OCEAN holders would have their tokens migrated to the new ASI token at the following conversion rates:

• SingularityNET – 1 AGIX to 0.433350 $ASI
• Ocean Protocol – 1 OCEAN to 0.433226 $ASI
• Fetch.ai – 1 FET to 1 $ASI

This withdrawal of support is the latest in a row of delistings from top exchanges. The first phase of the migration began on July 1, and phase two is slated to begin sometime in August.

AGIX Price Eyes Lower Support

The overall trend for AGIX price is downward, as indicated by the breakout from the descending triangle pattern formed by lower highs and a horizontal support level around $0.76.

The price of AGIX is currently at $0.5, where it found some temporary support. The candlestick pattern shows a potential breakdown from this support, signaling further bearish momentum. The long lower wick on the current candle suggests buying interest at this level, but it needs confirmation in the following candles.

The 50-day EMA is $0.688, and the 200-day EMA is $0.698. Both are above the current price, confirming the bearish trend. Additionally, the 50 EMA just crossed below the 200 EMA, which is a death cross, signaling the start of a prolonged bearish trend.

The horizontal black line indicates the primary support level for the AGIX price, which is around $0.5. The grey area highlights a lower support zone, between $0.25 and $0.30. Immediate resistance is at $0.6, with stronger resistance around $0.688 (50-day EMA) and $0.698 (200-day EMA).

The RSI is at 40.54, slightly above the oversold region, indicating that the price might have had a minor relief rally but still remains weak. The MACD is below the signal line and in negative territory, which supports the bearish outlook.

The AGIX price is not moving much currently, as all attention is on the Artificial Superintelligence token (ASI). However, as more exchanges delist it and investors rush to cut losses, AGIX will likely experience more downside.