One of the altcoins to have had a big impact lately is SingularityNET (AGIX). It even had a price increase of 21.95% within the past 24 hours. The blockchain-powered network makes it simple for anybody to “create, share, and commercialize” artificial intelligence services.
AGIX/USDT 1-Hour Price Analysis (Source: TradingView)
Looking at the hourly chart, it shows that AGIX is now trading inside a bullish flag. AGIX has the potential to rise further if it follows the nature of the bullish flag. However, if the major cryptos break their psychological supports and dump more, we can expect AGIX to reach back to its previous order block level between $0.08630 and $0.08232.
If AGIX breaks the upper trendline and rises higher, we can see AGIX reach and break its previous weak high at $0.25560. But the Bollinger bands are not contracting at the moment, which means there is no high volatility in the market. The upper Bollinger band sits at $0.20274 while the lower Bollinger band is at $0.15107.
At press time, the relative strength index of AGIX is placed at 53. A reading of 50 denotes a neutral level or balance between bullish and bearish positions. In the meantime, AGIX is above 200-day moving average, meaning that buyers are accumulating AGIX.
As Artificial Intelligence-based services are trying to take place in the world and a lot of people are gaining interest in the AI field, SingularityNET is starting to get popular among crypto investors. CoinMarketCap, a website that tracks the crypto market, shows that AGIX is currently trading at $0.1796.
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Source: Cryptocurrency - investing.com
