NewsletterAGIX Price Prediction: Bullish Pattern Plots a Quick 13% Recovery in SingularityNET Price; Enter Now?
AGIX Price Prediction: Over the last two weeks, the AGIX price’s ongoing downtrend has obtained a specific direction under the influence of a falling wedge pattern. The prices continue to resonate between the pattern’s two converging trendlines indicating the traders are actively respecting this technical setup and should respond to its potential targets too. Here’s how you may trade this pattern.
Key Points
- The formation of a falling wedge pattern foreshadows a potential bullish reversal in the price of an asset.
- Until the wedge pattern is intact, the AGIX price will remain in a downtrend
- The 24-hour trading volume in the SingularityNET coin is $402.2 Million, indicating a 223% gain.
Source-Tradingview
The AGIX price shows the formation of a falling wedge pattern in the 4-hour time frame chart. In theory, the price action narrowing within the pattern’s falling trendlines indicates that the bears are losing their grip on the market, and the bulls are gaining strength.
As of now, this coin price trades at the $0.393 mark and shows sustainability above the recently obtained $0.39 support. A lower price rejection tail attached to the 4-hour candle indicates the buyers are defending this reclaimed support.
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If the buying pressure persists, the coin price will gain 2.2% and rechallenge the overhead trendline. A potential breakout from the pattern’s resistance will be an early sign of trend reversal.
A 4-hour candle closing above the trendline will accelerate the buying pressure and offer a long-entry opportunity to traders. This breakout will likely drive the 13% to hit $0.448.
Technical Indicator
RSI: the RSI slope moving near the midline indicates a neutral sentiment among market participants.
EMAs: the falling EMAs(20, 50, 100, and 200) offer additional resistance against buyers, assisting sellers to prolong ongoing downtrends.
AGIX Coin Price Intraday Level
- Spot price: $0.392
- Trend: Bullish
- Volatility: Medium
- Resistance levels: $0.426, $0.447
- Support levels: $0.0.39 and $0.36
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