- Bulls led the charge and showed their aggression in the last trading session.
- The ongoing downfall was looking to an end now.
AGIX ( Singularity NET ) token price jumped by more than 8% in the intraday trading session showing bullishness in this weak market. This massive inclination shows buyers are active on the token and trying to fetch the ongoing mark of $0.30000.
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Although buyers hit the same mark as well, they soon retraced back as there was a 50-day EMA placed there, which acts as a barrier. Moreover, the token also escaped above the upper Bollinger band and tried to leave the range, but sellers maintained the positions near the psychological round mark of $0.3000.
When writing, AGIX token price is trading at $0.28500 with an intraday gain of 8.54%, showing bulls dominance on the token. Moreover, the pair of AGIX/BTC is at 0.0000108 BTC, and the trading volume in the last 24 hrs has increased by 24% to $246.70 Million. Furthermore, the 24hr high of the token is $0.3081, and the low at $0.2537 between the range, token was traded.
Daily Charts Indicates Trend Reversal
On the daily charts, the AGIX token has bounced off from the support mark of $0.23000, where the token formed a double bottom pattern and soon crossed the neckline and gained momentum. The bulls now acquire the strength and rescue the muscles to meet the mighty bears in battle again.
Furthermore, the price action shows that the token breaks the trendline, escapes the congestion range above $0.29000, and tries to sustain above the 50-day EMA mark.
Short Term Charts Shows a Bounce
On the 4-hour charts, the AGIX token bounced from the bottom and registered a decisive move amid the correction in the token from the last few trading sessions. Moreover, the token cleared above the 20-day EMA in single bullish candles and noted a massive inclination of more than 9% in the intraday trading session.
The RSI floated towards the overbought zone right from the over-sold region in the same trading session, which shows the traction led by the buyers and the enormous movement of traders.
The primary reason for the massive bounce per the technical parameters was that the short positions were trapped, sellers were leaving the positions, and short covering was noted on charts.
The MACD also indicates the same bullishness, and RSI suggests positive outlooks. The bullish crossover was noted on the indicator and delivered bullish cues on the charts.
Conclusion:
AGIX token registered a trendline breakout and showed bullishness on the charts delivering the bounce from the support of $0.25000, where bulls accumulated the token.
Technical Levels-
Resistance level- $0.32000
Support level- $0.25000
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.