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.
Also Read: Top Crypto Copy Trading Platforms For 2023
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
- Cardano News: ADA Ecosystem Proposes ‘Critical Integrations Budget’ To Advance Network Growth
- CME Crypto Markets Reopen After Data-Centre Cooling Issue
- Upbit Hack Update: Exchange Identifies Hidden Wallet Flaw As Cause of $30M Exploit
- Crypto Exchange Bitget Donates $1.54M To Hong Kong Fire Victims
- Bitget Launches AI Trading Avatars to Enhance Crypto Trading Strategies
- XRP Price Forms Alarming Death Cross Amid Intense Whale Dumping
- Chainlink Price Outlook as Reserve Nears 1M LINK — Bullish Shift Ahead?
- Solana Price Set for Upside as SOL Hits Record 99% Tokenized Stock Share
- Is XRP Price Gearing Up for a Rally as Reserves Collapse?
- Dogecoin Price Hovers Above $0.15 as Bulls Eye a Fresh Breakout
- Shiba Inu Price Could Rally As SHIB Burn Rate Surges 790% in 24H
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
