AGLD Breaks Key Resistance: Could 6,500% Gains Be Next?
- AGLD breaches key resistance levels, signaling bullish momentum and sparking excitement among investors eyeing high growth potential.
- The cup-and-handle pattern confirms upward trends, projecting gains of up to 6,500% from the markets bottom in the coming months.
- With resistance overcome, AGLDs bullish trajectory draws interest, though experts advise caution in the volatile cryptocurrency market.
The digital currency is slowly but steadily making its way in the cryptocurrency market as it breaks past key resistance levels. On Sunday, in an X post, Alan Santana focused on the cup and handle charting pattern which signals further strong growth for the token.
The cup-and-handle pattern is one of the most popular formations that define the technical analysis charts models. In AGLDs case, it features two cups: a large one for a major low and a small one for a higher low. These formations are completed by a resistance level known as the neckline. AGLD price has finally and decisively breached this crucial resistance this week, cementing the bulls position in the chart.
Bullish Momentum for AGLD
In the past, AGLD has faced difficulty at the neckline level. An effort to push through this level was made in November but the price closed beneath the resistance even with a bullish week. In the following weeks, the resistance was breached, which is an essential shift for the tokens price trajectory. This barrier is penetrated to validate local bulls buying pressure and remove a longstanding cap.
Now that the resistance has been eliminated, attention has turned to what price targets AGLD may achieve. Initial estimates indicate that, in the coming months, the token might deliver fantastic returns. Pricing is expected to rise by 629% within the 1 to 3 months period according to analysts. Extended period of 3 to 6 months may present even more significant increase, and the possible profit can be as high as 1,101%. From the markets bottom, the total growth may rise to 6,500%.
Rising Interest in AGLD
The bullish trend in AGLD may be attributed to general market trends as well as technicals. The cup-and-handle formation is a very powerful indicator of a continued uptrend and can help investors to chart their course. Even though such projections can be seen as quite optimistic, they are also backed by rather reasonable technical analysis, which can work as a ray of light in the sea of constantly fluctuating prices. As of writing, the token is trading at $1.82, showing a 10.82% increase over the past day.
AGLD seems to be following an upward trend as the week nears its end. This breakthrough of the resistance level is a major achievement and has garnered more interest from the cryptocurrency community as more people aim for hitting astonishing prices. Despite the positive perspective there are still challenges on the market and the participants are urged to be careful in such a critical environment.
Read more: https://www.tronweekly.com/agld-breaks-key-resistance-could-6500-gains/
Text source: TronWeekly
