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

source-logo  coingape.com 27 May 2023 20:54, UTC

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.

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