Does SingularityNET Coin’s 20% Jump Signal A New Bull Run?

AGIX Price Prediction: Today, the SingularityNET Coin price witnessed a massive inflow and breached the range resistance of $0.46-$0.448. This breakout from a 10-day-long consolidation indicates the release of trapped bullish momentum and a higher chance for a significant bull run.

Key Points

• A high momentum breakout from $0.46 indicates the buyers are confident to claim the higher level of the chart.
• The rising 20-and-50-day EMA accentuates a recovery sentiment in AGIX price
• The 24-hour trading volume in the SingularityNET coin is $402.2 Million, indicating a 223% gain

AGIX Price Prediction: Range Breakout Offers Long Entry Opportunity

Source-Tradingview

Over the past ten days, the AGIX price resonated between fixed levels of $0.46-$0.448 and $0.378, creating a narrow range formation. The coin price reverted from each of the mentioned levels at least thrice indicating the traders are strictly respecting these levels.

Anyhow, a consolidation phase can occur for various reasons, including market uncertainty, lack of significant news or events, or simply because buyers and sellers are waiting for a clearer indication of the trend direction. 

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However, today the AGIX price finally gave a massive breakout from the range resistance of $0.46-$0.448 indicating the buyers are wrestling to take trend control. However, in the four-hour time frame chart, the coin price shows the post-breakdown retest candle with – and higher volume.

The long bearish candle questions the credibility of the prior breakout and therefore the trades should be cautious with their new entries. Thus, interested traders can wait for price sustainability above $0.46 before positioning their funds on a long trade.

Technical Indicator

Pivot levels: as per the pivot points tradition level, a potential bull could face supply pressure at $0.524(R2), followed by $0.574(R3).

EMAs: A rising 20-day EMA could offer strong dynamic support to AGIX price

AGIX Coin Price Intraday Level

• Spot price: $0.477
• Trend: Bullish
• Volatility: Medium
• Resistance levels: $0.524, $0.574
• Support levels: $0.448 and $0.423