SingularityNE (AGIX) Price Poised for Nearly 30% Surge Ahead
The SingularityNET (AGIX) price has broken above a long-term resistance zone and is displaying decisive bullish signals. It is expected to continue rising in the near future.
The SingularityNET (AGIX) price has been rising since forming a bullish candlestick pattern at the long-term support zone of $0.17 in the week of October 16 to 23 (green ellipse). So far, the price has formed eight consecutive weekly bullish candles. This suggests that the bulls are buying strongly on minor dips, anticipating the continuation of the upward trend.
Indeed, this momentum has helped the price surpass the long-term resistance zone at $0.33 and is currently in the process of forming another bullish candlestick (green arrow).
This week’s candle holds significant importance in determining future trends. Closing the weekly candle above the $0.33 zone will confirm the breakout and could propel the price towards the next resistance zone at $0.46, representing a 26.39% increase from the current price.
However, a rejection could lead to a retracement towards the previous resistance at $0.26.
The weekly RSI is above 50 and trending upward, supporting the potential breakout.
The daily chart shows a decisive breakout above the $0.33 resistance zone yesterday.
The daily RSI has bounced from the 50 level (green arrow) and is sloping upward, showing that the bulls are in control of the price action.
Therefore, signals from the daily timeframe support the possibility of a breakout above the $0.33 resistance zone on the weekly timeframe.
The most likely scenario suggests that the AGIX price could increase by 26.39% towards the next resistance zone at $0.46.
This outlook would be invalidated if the price closes below the crucial zone at $0.33 on the weekly timeframe.
Disclaimer: Please note that this article is for informational purposes only and should not be taken as investment advice. As an investor, it is important to do your own research before making any decisions. We are not responsible for any investment decisions you make based on this information. Not Financial Advice.
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