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- 1 SingularityNET price prediction forecasts a bearish outlook.
- 2 SingularityNET recorded a 15.22% increase in 24-hour trading volume.
- 3 The AGIX price may rise within a week.
SingularityNET price prediction indicates that the AGIX token is making an attempt to break out of the bear trend. The AGIX price has been trading in a downtrend taking constant resistance from the 50 EMA; making a descending wedge-like pattern. Despite giving a breakout from the wedge pattern it is yet to cross above the 50 EMA.
The price has been respecting its 50 EMA resistance for the past 16 weeks. The RSI and stochastic RSI are presenting contrasting views. The RSI line is taking support from 14 SMA and the stochastic RSI is making a double top pattern.
SingularityNet is a decentralized marketplace for AI services. It is built on the Ethereum blockchain and allows users to buy and sell AI services. The platform uses AGI currency in order to buy and sell services.
At present, the value of AGIX is $0.2478. It has a market capitalization of around $304.2 Million which has been rising through the week.
Drop in Overall LunarCrush Parameters
Multiple social media metrics on LunarCrush show a drop. Total bullish sentiment metrics fell by 70.4%. Whereas, there is a sharp decline of 95.6% fall in Total Social Engagement volume over the past week.
Despite the fall in most of the parameters, the price of SingularityNet is up by 95.6% over the last few days.
AGIX Price Prediction: Technical Analysis On 1 Day Timeframe
The RSI oscillator is moving near the median line on the one day chart. The current value of RSI is 51.46 points, whereas the 14 SMA is providing support to it at 50.16 points.
The stochastic RSI is making a double-top pattern. The value of the stochastic RSI is 55.92 points indicating that the %K and %D lines may give a bearish crossover below the median line.
Conclusion
The analysis of the price action of AGIX suggests that the price is making an attempt to recover its previous value. The oscillators are moving near the supply zone.
Buyers are presently trying to boost the SingularityNET price. If the price gains support from the buyers, breaking above the 50 EMA near its immediate support zone, it could surge by 32.67% within the next few weeks. While there are no multiple EMA resistance levels, the barrier presented by price action itself may prove to be challenging for the bulls that are aiming for a breakout.
Technical levels –
Support – $0.250
Resistance – $0.400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.