Price Analysis

AGIX Price Prediction: Will SingularityNET Coin Recover to $0.588?

AGIX Price Prediction: Completing the channel pattern, the AGIX price is likely to witness a significant recovery

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Published 27 May, 2023 | 07:40:50 PM UTC

AGIX Price Prediction: Will SingularityNET Coin Recover to $0.588?

AGIX Price Prediction: In the daily time frame chart, a downsloping channel pattern gave a specific direction to the falling AGIX price. From the peak of $0.59, the altcoin tumbled nearly 61.7% and marked the monthly low at $0.226. However, amid the volatile market scenario, the buyers manage to break out from the pattern’s key resistance trendline in an attempt to regain trend control.

Also Read: Expert Who Called 2008 Market Crash Predicts 60% Drop, Crypto To Crash As Well?

AGIX Price Daily Chart

This technical formation of the channel pattern shows three lower highs and two lower lows connected using trend lines and validates the reliability of this setup.
A bullish breakout from the overhead trendline signals a trend reversal sign for AGIX
The 24-hour trading volume in the SingularityNET coin is $135.2 Million, indicating a 25% loss.

Source-Tradingview

The SingularityNet coin (AGIX) price shows an initiative to rally with a bullish breakout from the resistance trendline of the channel pattern. By the press time, this altcoin trades at $0.31 with an intraday gain of 6.35%.

If the daily candle closes above the breached trendline, the buyers will obtain a stable launchpad and push the prices higher. In an extremely bullish scenario, the resulting rally may surge the AGIX price to $0.588, registering a potential growth of 90%.

However, some more conservative targets for long-buyers could be $0.366 or $0.45, as they each stand as significant supply zone.

Will AGIX Price Rise to $0.58 Peak?

An upside breakout from the channel pattern has set a potential bull rally in AGIX price. In theory, each swing high with the pattern is a potential target for buyers to book profit. Therefore, with sustained buying momentum, the price rally could hit $0.366, $0.45, or $0.588.

Relative Strength Index: The daily RSI slope reached a two-month high of 56% indicating buyers convincing to reach higher levels.

Bollinger Band: The BB indicator challenge on the upside projects an active buying momentum and additional confirmation for a price rally.

Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by

Brian Bollinger

Published 27 May, 2023 | 07:40:50 PM

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