- SingularityNET Token was currently at $0.4169 with a decrease of 2.98% during the intraday trading session.
- The 24-hour low of AGIX was $0.4138 and the 24-hour high of AGIX was $0.4335.
- The current SingularityNET is above 20, 50, 100, and 200-Days EMA.
The current price of SingularityNET was around $0.4169 with a decrease of 2.98% during the intraday trading session. The pair of AGIX/BTC was currently trading at 0.00001692 BTC with a dip of 3.43% over the intraday trading session.
SingularityNET price analysis suggests that it is currently in a downtrend. After May 2022 AGIX was consolidated between its primary support of $0.0716 and its secondary resistance of $0.0362. But after the start of 2023, AGIX started rising but after reaching its primary resistance of $0.20766 it became stranded and was consolidating till the start of February. Then after the start of February, it again started climbing upwards fast and the formation of the Three White soldiers candlestick pattern helped the AGIX to cross its secondary resistance of $0.4855 and make its 52-week high.
After the appearance of a bearish engulfing candlestick pattern over the daily trading chart, SingularityNET started declining fast but buyers came back and tried to push AGIX upward which can be observed by the formation of the Marubozu candlestick over the daily trading chart. Even though buyers pushed the AGIX upwards sellers put pressure on the AGIX and pulled it down and it again started declining which indicates that sellers are coming in the majority and taking the market back from buyers and pushing AGIX downwards.
The volume of the coin has decreased by 44.56% in the last 24 hours. The decrease in volume indicates that the number of sellers has increased. This shows that sellers are trying their best and there is a relationship between volume and the price of AGIX, which represents strength in the current trend. The coin’s price exceeds the 20, 50, 100, and 200-day daily moving averages.
The technical analysis of SingularityNET:
RSI is declining in the overbought zone and has shown a negative crossover which indicates that the bears are coming in the majority and taking back the market from bulls and pushing AGIX downwards. This suggests the strength of the current downtrend. The current value of RSI is 57.01 which is below the average RSI value of 64.37.
The MACD and signal are decreasing and intersecting and show a negative crossover which verifies the RSI indicator. Investors are watching every move in the market carefully.
Conclusion
SingularityNET price analysis suggests that AGIX is currently in a downtrend. From May 2022 AGIX was consolidated till the start of 2023. After the start of 2023, AGIX started rising and after making its 52-week high and reaching its secondary resistance it started declining. The decrease in volume suggests the lack of confidence of traders towards AGIX. RSI and MACD have shown a negative crossover which suggests the strength in the current downtrend as per the technical indicators. This gives signs for the long traders to close their trades.
Technical Levels-
Resistance level- $0.20766 and $0.4855
Support level- $0.0716 and $0.0362
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.