Just today alone, SingularityNET price went up by 13% following a significant volume inflow in the past hours. It has formed a bullish pattern on the lower time frame, looking set for a rally.

In the first quarter of the year, the price of AGIX rallied by over 1000% to $0.668. It encountered resistance and halted the rally with a sharp rejection that ended with a bearish candle formation. 

Following that rejection, it consolidated for a while and began to lose momentum. The negative actions crossed into the second quarter and become broader until it slipped to a multi-month low of $0.23 earlier this month. This low price level has held bearish actions since then. 

It struggled to recover from there and later saw a daily surge last week. But unfortunately, the price rolled back last weekend into this week. 

After undergoing a 60% correction, AGIX found a base support and bounced back with a bullish engulfing today, indicating a potential increase. The daily double-bottom formation could see the price to $0.45, where the descending trendline lies. A break or make from that area would determine the next direction.

Regardless of the steady drops over the past months, AGIX was still able to hold more than half of its first-quarter gains up till now. Though, it currently looks bearish from a short-term perspective.

The price is charging right now following the latest bullish pattern. A key area of interest for buying lies at the $0.327 and $0.369 resistance levels. The next target level is located at $0.416 before advancing higher. 

While the $0.255 level serves as weekly support, the $0.23 level holds as monthly support. A crack at those levels could activate another downturn toward the $0.165 level.

Key Resistance Levels: $0.327, $0.369, $0.416

Key Support Levels: $0.255, $0.23, $0.165

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: evpv/123RF // Image Effects by Colorcinch

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