Due to a strong surge in the AGIX price, there has been a massive increase in its trading volume since last week. However, the bulls appear to be losing momentum after a failed breakout from the range highs.
AGIX crypto is the native asset of the decentralized AI marketplace known as SingularityNET. Due to its AI traits, the price of the Altcoin exploded at the start of this year as artificial intelligence became a major narrative.
However, after soaring 1360%, the price reversed from the $0.667 level. This move resulted in the formation of the bearish double top pattern which paved the way for the bears to regain control. Since then, the price has tanked 57%.
An analysis of the daily chart shows that the SingularityNET (AGIX) price has once again fallen back within the $0.17-$0.28 trading range after briefly trading above the range highs.
Currently, the bulls are orchestrating another attempt to break out above $0.28. This retest is going to be very critical for the price.
This post was last modified on Nov 23, 2023, 21:15 GMT 21:15