- SingularityNET Price jumped 17% after OpenAI’s ChatGPT dropped the iPhone App.
- Famous AI backed crypto Token AGIX Price grabbed attention from investors.
- AGIX crypto witnessed a sharp increase in the buying volume.
SingularityNET Price (AGIX) jumped 17% in a single day after OpenAI’s ChatGPT launched its official iPhone App. AI adoption is drastically increasing which positively impacted the crypto related tokens.
AGIX Price shot up and grabbed the attention of investors. It witnessed a massive spike in the buying volume and prices also followed the upward direction. It shows some geninne buyers have taken long positions and are expecting recovery to continue in the token.
SingularityNET Price has not performed well in the past few months and corrected 45% approx from the swing high at $0.55907. Luckily, the downfall halted near to $0.22748 and buyers are trying their best to recover from the lows.
SingularityNET Price is trading at $0.31309 with an intraday rise of 1.72%. The 24 hour volume to market cap ratio is 0.4537. At the mid of March, AGIX Price took support near $0.30000 and formed a bullish hammer candle. Later, prices gained positive momentum and rallied 85% approx in a short period of time.
However the momentum halted near $0.55907 and buyers failed to sustain the price on higher levels. Slow and steady prices declined by forming lower lows and eroded all its previous gains.
Will SingularityNET Price perform in the coming future?
SingularityNET Price consolidated for a few days in a narrow range and formed a short term base near $0.25000. After a long time, AGIX price gained momentum and showed signs of the bullish trend reversal. However, the price is below the 50 day EMA which will act as an immediate hurdle in coming weeks.
If the buyers succeed to push the price above the 50 day EMA then we may see a rally to continue toward $0.44996. On the other hand if the price faces rejection then it might retrace back to its previous consolidation zone.
The technical analysis suggests. AGIX price is trying to reverse the trend in upward direction but the confirmation is still awaited. Moreover, The SingularityNET might perform well due to drastic adaption going on in Artificial Intelligence.
Will AGIX Price sustain the higher levels
AGIX Price formed a bullish engulfing candle on a weekly time frame which is also a strong sign of trend reversal. The next week will be important for the inventors because if price holds the weekly high then the possibility of upward momentum will increase.
Technical indicators like MACD have generated a positive crossover and the curve is sloping upward. It indicates buyers returning back to track and bullish momentum might continue. The RSI at 53 denotes neutral territory and the strength of bulls.
Conclusion
SingularityNET Price (AGIX) jumped 17% in a single day and formed a bullish reversal pattern. The recent news of OpenAI’s ChatGPT has fueled the rally. The technical analysis suggests, If price sustains above 50 day EMA then more upward momentum is possible.
Technical levels
Resistance levels: $0.44996 and $0.55907
Support levels: $0.25000 and $0.20000
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.