- AGIX token price is nearing an all time high as it trades on a bullish trajectory.
- AGIX token price is forming a symmetrical triangle pattern on an hourly time frame.
- The pair of AGIX/BTC is trading at the price level of $0.00001885 with an increase of 2.58% in the past 24 hours.
AGIX token price displayed a bearish trend before giving indications of a bullish move. AGIX token price is trading at the price level of $0.4965.
AGIX Token Price Sustains Bearish Trend
AGIX token price is on a strong uptrend despite forming a continuation pattern. On a higher time frame, a strong correction can be seen of the continuing bullish trend. In an hourly time frame, the token price has managed to sustain the demand zone resulting in the breakout of the 50- and 100-day Moving Averages. Moving upwards, these MAs can be seen acting as a strong demand zone.
At present, AGIX token price is trading at the upper band of the bollinger band indicator. The range of the bollinger band indicator has narrowed indicating a strong move on either side of the breakout. Volumes increased following a strong bounce from the demand zone. As a result, the token price displayed erratic movement before showing a one-sided move.
AGIX Token Price is a Symmetrical Triangle Pattern
Relative Strength Index (RSI) is depicting a strong bullish trend in the AGIX token price. As of now, the RSI curve has crossed the halfway mark of 50 as the token price bounced from the demand zone. There seems to be a margin for more bullish movement as the RSI curve is yet to reach the overbought zone. Once the RSI curve starts approaching the mark 70 investors should be careful and act accordingly.
MACD indicator has been indecisive over the past couple of trading days as it kept on triggering false signals. But recently it triggered a positive crossover as it managed to reach the supply zone. Once the token price breaks out of the narrow range, the MACD line will widen, supporting the trend.
Conclusion: AGIX token price managed to sustain at the demand zone. It has been trading inside a narrow range for the past couple of days. Technical parameters are giving bullish indications. It remains to be seen if the token price will break the supply zone or fall below the demand zone.
Support: $0.48 and $0.46
Resistance: $0.51 and $0.55
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Source: https://www.thecoinrepublic.com/2023/03/17/agix-token-price-analysis-token-price-is-stuck-inside-a-range/