- AGIX price is currently trading at $0.33951 while seeing a decrease in 24 hour trading volume by 6.03%.
- Market capitalization is down by 0.67% in the last 24 hours.
- AGIX price is trading below 20 and 50 EMA.
AGIX price is in bearish trend after breaking the consolidation zone ranging between $0.443 and $0.376. SingularityNet price enjoyed a rise in the month of march with an increase of 88% from the low of $0.28510. The trading volume has also increased 125% showing the increased interest for AGIX coins.
The AI trend is in boom in the technology world today and pivoting to becoming a prominent innovation. A number of blockchain based protocols are taking up positions as innovators in collaborating tech and smart contracts. These blockchains are working on how tech and smart contracts can be integrated. SingularityNet blockchain based network is one of them which enables anybody to create and commercialize artificial intelligence services. Any of these services can be purchased by AGIX coin. AGIX is on a mission of creating a platform that can allow users to easily “create, sell and monetize” AI services, with its globally accessible AI marketplace.
AGIX/USD is up by 640% year to date even if the coin is currently in bearish trend. AGIX is stuck in narrow consolidation after breaking the previous zone. Since last week, the indecisiveness has affected the price to oscillate in the same zone of $0.339 and $0.357. On the condition that the break below the rejection wicks at $0.33 level, there is probability for the price to fall till $0.31 level. On the contrary, if AGIX price can rise above the upper wick of the 27 April candle, there is a possibility that the price might retrace to $0.43 level. SingularityNet has turned out to be the highest gainer in years to date and this move might be just a pullback for the price to again rise upwards.
AGIX Technical Analysis:
RSI trades at 37.99 indicating a bearish momentum in AGIX price. The fall from the narrow consolidation zone will push price into the oversold zone increasing chances of reversal from $0.3100 level. AGIX price is consolidating near the lower band of bollinger. The bands have expanded suggesting a high volatility in the market. The chaikin money flow reached 0.7 indicating price is gaining strength and there is decline in participation of bears as CMF increased after touching 0.20 suggesting a possibility of reversal in upcoming days.
Conclusion:
The market structure and price action is currently bearish for AGIX price. Price is stuck in a narrow consolidation zone showing indecisiveness in the market. The technical parameters are still bearish for AGIX price. Good news for SingularityNet from a long term perspective is that AI will play a great role in future and its token AGIX will surge in price but at the moment price is in bearish trend witnessing a pullback from bullish trend.
Technical levels:
Major support: $0.31.
Major resistance: $0.433.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.