SingularityNET (AGIX) Price Prediction 2023 — Will AGIX Hit $0.4 Soon?
- Bullish AGIX price prediction for 2023 is $0.26748 to $0.37306.
- SingularityNET (AGIX) price might reach $0.4 soon.
- Bearish AGIX price prediction for 2023 is$0.14290.
In this SingularityNET (AGIX) price prediction 2023, we will analyze the price patterns of AGIX by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.
SingularityNET (AGIX) Current Market Status
| Current Price | $0.2404 |
| 24 – Hour Trading Volume | $27,836,962 |
| 24 – Hour Price Change | 3.18% Down |
| Circulating Supply | 1,222,631,811 |
| All – Time High | $1.86 (on Jan 20, 2018) |
What is SingularityNET (AGIX)?
SingularityNET is the first decentralized AI market that is built on top of the Cardano blockchain. SingularityNET is a project that is focused on linking the blockchain world to the world of Artificial Intelligence or AI. The functioning of SingularityNET is not only that of a blockchain, but it also brings together various elements of a project with the aim of developing a blockchain network that supports the development of Artificial Intelligence services.
AGIX is SingularityNET native token. It was developed to monetize and mobilize value by making use of and providing AI services. This is possible due to its globally accessible AI marketplace.
SingularityNET (AGIX) Price Prediction 2023
SingularityNET (AGIX) ranks 105th on CoinMarketCap in terms of its market capitalization. The overview of the SingularityNET price prediction for 2023 is explained below with a daily time frame.
AGIX/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, SingularityNET (AGIX) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of SingularityNET (AGIX) was recorded at $0.2449. If the pattern trend continues, then the price of AGIX might reach the resistance levels of $0.32087, $0.44267, and $0.57830. If the trend reverses, then the price of AGIX may fall to the support of 0.18348.
SingularityNET (AGIX) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of SingularityNET (AGIX) in 2023.
AGIX/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of SingularityNET (AGIX) for 2023.
| Resistance Level 1 | $0.26748 |
| Resistance Level 2 | $0.37306 |
| Support Level 1 | $0.18775 |
| Support Level 2 | $0.14290 |
As per the above analysis, if SingularityNET’s (AGIX) bulls take the lead, then it might hit and break through its resistance level of $0.37306.
Conversely, if SingularityNET’s (AGIX) bears dominate the trend, the price of AGIX might plunge to $0.14290.
SingularityNET (AGIX) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of SingularityNET (AGIX) are shown in the chart below.
AGIX/USDT RVOL, MA, RSI (Source: TradingView)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of SingularityNET (AGIX) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the AGIX price lies below 50 MA (short-term), indicating its downtrend. Hence, AGIX is in a bearish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the support is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of AGIX is at 51.65. Therefore, this indicates AGIX is in neither overbought nor oversold state. Also, this confirms that AGIX sends out a buy signal.
SingularityNET (AGIX) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of SingularityNET (AGIX) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
AGIX/USDT ADX, RVI (Source: TradingView)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of AGIX lies in the range of 31.36 pointing out a strong trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of AGIX lies above 50, indicating high volatility.
Comparison of AGIX with BTC, ETH
Let us now compare the price movements of SingularityNET (AGIX) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs AGIX Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of AGIX is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of AGIX also increases or decreases respectively.
SingularityNET (AGIX) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let uspredict the price of SingularityNET (AGIX) between 2024 and 2030.
SingularityNET (AGIX) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then SingularityNET (AGIX) might successfully test and surpass its resistance levels to hit $1.5 by 2024.
SingularityNET (AGIX) Price Prediction 2025
The significant upgrades in the SingularityNET ecosystem might persuade the entry of an increased number of investors. This may eventually boost the SingularityNET (AGIX) price to reach $1.7 by 2025.
SingularityNET (AGIX) Price Prediction 2026
If SingularityNET (AGIX) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $2.2.
SingularityNET (AGIX) Price Prediction 2027
If SingularityNET (AGIX) sustains major resistance levels and stands as a better investment option in the market, then AGIX would rally to hit $2.6.
SingularityNET (AGIX) Price Prediction 2028
If SingularityNET (AGIX) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then AGIX would hit $3.3 by 2028.
SingularityNET (AGIX) Price Prediction 2029
If investors flock in and continue to place their bets on SingularityNET (AGIX), then the crypto would witness major spikes. Hence, AGIX might hit $3.7 by 2029.
SingularityNET (AGIX) Price Prediction 2030
By 2030, the AGIX price might rally to $4 if the trend momentum aligns in favor of SingularityNET. Furthermore, AGIX would hold a positive market sentiment and be labeled as a long-term investment with a highly profitable ROI.
Conclusion
If SingularityNET (AGIX) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish SingularityNET (AGIX) price prediction for 2023 is $0.37306. Comparatively, the bearish SingularityNET (AGIX) price prediction for 2023 is $0.14290.
If there is a positive elevation in the market momentum and investors’ sentiment, the SingularityNET (AGIX) might hit $0.4. Furthermore, with future upgrades and advancements in the SingularityNET ecosystem, AGIX might surpass its current all-time high (ATH) of $1.86 and mark its new ATH.
FAQ
1. What is SingularityNET (AGIX)?
SingularityNET is the first decentralized AI market that is built on top of the Cardano blockchain.
2. Where can you buy SingularityNET (AGIX)?
Traders can trade SingularityNET (AGIX) on the following cryptocurrency exchanges such as Binance, Bitrue, Bybit, LBank, and Bitget.
3. Will SingularityNET (AGIX) record a new ATH soon?
With the ongoing developments and upgrades within the SingularityNET platform, SingularityNET (AGIX) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of SingularityNET (AGIX)?
SingularityNET (AGIX) hit its current all-time high (ATH) of $1.86 on January 20, 2018.
5. What is the lowest price of SingularityNET (AGIX)?
According to CoinMarketCap, AGIX hit its all-time low (ATL) of $0.007497 on March 13, 2020.
6. Will SingularityNET (AGIX) hit $0.4?
If SingularityNET (AGIX) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon.
7. What will be the SingularityNET (AGIX) price by 2024?
SingularityNET (AGIX) price might reach $1.5 by 2024.
8. What will be the SingularityNET (AGIX) price by 2025?
SingularityNET (AGIX) price might reach $1.7 by 2025.
9. What will be the SingularityNET (AGIX) price by 2026?
SingularityNET (AGIX) price might reach $2.2 by 2026.
10. What will be the SingularityNET (AGIX) price by 2027?
SingularityNET (AGIX) price might reach $2.6 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/singularitynet-agix-price-prediction/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
