|

SingularityNET price could bounce 30% if AGIX can hold this level

  • SingularityNET price trades inside the $0.903 to $1.475 range.
  • A recovery in the crypto market outlook could see AGIX rally 30% and tag $1.189.
  • A breakdown of $0.811 support level will invaldate the bullish thesis for AGIX. 

SingularityNET (AGIX) price shows signs of stabilizing around a key support level. This development could lead to a beneficial bounce for AGIX holders if the crypto market improves in favor of bulls. 

Also read: Bitcoin price retests $60,600, wiping out Thursday gains in American session

SingularityNET price at critical level

SingularityNET price has been consolidating around the bottom of the $0.903 to $1.475 range for nearly a month. With some AI-tokens showing signs of revival, AGIX needs to be enalyzed for potential breakout opportunities like Arkham (ARKM).

Due to the consolidation of SingularityNET price around $0.903, the chances of a push to the upside is high especially with Bitcoin looking ready for a quick bounce into the $70,000 region. Additionally, the Relative Strength Index (RSI) and Awesome Oscillator (AO) both hovering above their respective mean levels of 50 and 0, paints a bullish picture for AGIX. 

Regardless of the bullish signs, investors need to wait for SingularityNET price to flip the $1.011 resistance level into a support floor before they are confident. If successful, this development will most likely be followed by a rally that retests the range’s midpoint at $1.189. This move would constitute a 30% gain form the current position of $0.920. 

AGIX/USDT 1-day chart

AGIX/USDT 1-day chart

 A daily candlestick close below $0.811 support level will create a lower low and invalidate the bulish thesis for SingularityNET price. This development will skew the odds favoring sellers or bears. In such a case, AGIX could crash nearly 10% and revisit the $0.733 support level.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face pressure near key technical barriers

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday after correcting slightly in the previous week. The top three cryptocurrencies by market capitalization could face increased downside risk as bearish momentum builds across key indicators.

Top Crypto Losers: DASH, SPX, PENGU – Privacy and meme coins lose ground

Altcoins, including Dash (DASH), SPX6900 (SPX), and Pudgy Penguins (PENGU), are leading losses as the broader cryptocurrency market remains cautious ahead of the macroeconomic data releases, such as the US Nonfarm payroll report, CPI data, and the Bank of Japan’s rate-hike decision.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.