SingularityNET (AGIX) is a platform that allows developers to develop and deploy Artificial Intelligence (AI) agents using blockchain. AGIX price has moved from its all-time high of $0.59106 to its current support level at $0.28537, having fallen by over 30% from its swing high. This has meant a steep drop for investors.

The 24-hour trading volume to market cap ratio for AGIX is at 0.1142, suggesting that there is lessand less participation in the market. This indicates that the price may be entering into a period of consolidation. AGIX price has found support at the current level which is close to the monthly lows.

The chart structure of AGIX/BTC shows a downtrend and a struggle to defend the 200-day EMA. The indication of a positive correlation with the USDT pair highlights a slightly better outlook. At the mid of March, AGIX attempted to break through the resistance at $0.59106, however, the attempt was unsuccessful. Thus, it may take some time for AGIX to hit above the $0.46000 hurdle for it to pick up promising momentum.

The technical indicators such as MACD and RSI suggest that the bears lack the downward momentum as the curve is reversing. The RSI is at 36, nearly at the oversold territory; likely to trigger a short-term relief rally.

As for the long-term outlook, SingularityNET predicted there will be a rise in the trend as long as AGIX holds the $0.30000 support level. Investors should keep a watchful eye on the resistance and support levels, as mentioned above. The overall market sentiment is currently tending towards a more bullish direction as BTC recently attempted to break out of its' all-time high by hitting above the $29000 mark, which could help the prices of AGIX and other altcoins to rise if the bulls maintain positive momentum.



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