AGIX price surged to the highest level since April 26 of this year as traders waited for the upcoming Rare Bloom Conference. SingularityNET’s coin jumped to a high of $0.1119, which was about 235% from the lowest level this year. It has become one of the best-performing cryptocurrencies, which has pushed its market cap to more than $107 million.
SingularityNET is an upcoming blockchain project that offers an Artificial Intelligence (AI) marketplace and AI Publisher. In its AI marketplace platform, users can buy applications developed using AI such as Real Time Voice Cloning, Abstractive Summarisation, and Neural Image Generation among others. On the other hand, its publisher platform makes it possible for people to build AI applications.
To achieve its success, SingularityNET collaborates with Rejuve, SingularityDAO, Singularity Studio, NuNet, and Decentralized AI Alliance (DAIA) among others. It is possible to stake the AGIX token and earn rewards.
AGIX price has risen sharply in the past few days. This is likely because of the upcoming Rare Bloom Conference that will happen in Denver, Colorado. The conference is one of the highly-anticipated events for the Cardano community. SingularityNET will be represented by the company’s CEO, Ben Goertzel, and the CEO of SingularityDAO. Charles Hoskinson, Cardano’s founder will also deliver a keynote speech.
The hourly chart shows that the SingularityNET token price went parabolic this week. It moved from a low of $0.041 to a high of $0.1119. The coin has moved above all moving averages while the Relative Strength Index (RSI) has formed a bearish divergence pattern. It has also formed an ascending wedge pattern.
Therefore, I suspect that the coin will have a bearish breakout in the near term. If this happens, the next key support level to watch will be at $0.05, which is about 45% below the current level. A move above the important resistance level at $0.1119 will invalidate the bearish view.
This post was last modified on Oct 14, 2022, 05:57 BST 05:57