- The Image Generation AI coin price has surged by over 34122% in a year.
- The IMGNAI coin price has recently broken the Symmetrical Triangle Pattern.
- This token’s current market price is $0.03053.
In the current trading session, the Image Generation Coin price is trading with a decline of $0.00051 or 1.64%. However, the coin price has witnessed the selling pressure from the last 2 trading sessions. The coin price has declined by over 27% in a week. It signifies that bears are controlling the coin at present.
The Image Generation AI coin price has recently halted the uptrend as it has formed a lower high and lower low pattern. It confirms that the token has ended the previous bullish trend. The coin price has shown a great surge in October as the crypto market has witnessed a wild upside swing.
In 2023, the coin price showed a significant jump and it reached an all-time high level of $0.5549 on 2 February 2023. It has surged by over 34122% in a year, which is a remarkable growth for any crypto. It has paid back an excellent return to the investors.
Price Prediction of IMGNAI Coin through Technical Analysis
The Image Generation coin price has formed a symmetrical triangle pattern and recently breached the pattern on the upside. It has shown a positive upward move after that, as it has surged by over 340% in just 15 trading sessions. However, the sellers entered the coin price at a higher level and brought the price down.
The Coin price has recently breached the support level of $0.03224 and is sustaining below that. This level will now act as a resistance to the price. Apart from this, the other resistance level is present near the level of $0.05351. If the coin price continues this decline, it can move towards the levels of $0.02631 and $0.01230. These levels are marked as Support 1 and Support 2 on the chart.
What the Indicators are Telling About IMGNAI Coin?
The IMGNAI Token price has initially closed outside the Upper Band of the Bollinger band. However, it has swiftly come back inside the band and witnessed a selling pressure from the higher side. The coin price has breached the median line in the previous trading session.
The relative strength index (RSI) is curving at 51.01, which shows that the momentum is still positive. However, if we notice the slope of the RSI, it is downward. That shows the Bears are tightening their group slowly.
Conclusion
The Bulls have lost momentum in the IMGNAI token price and the other indicators have started favoring the bears. The $0.02631 will play a crucial role in halting the price to fall.
Technical Level
Resistance – $0.03224 and $0.05351
Support – $0.02631 and $0.01230
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.