SingularityNET Price Anticipates 10% Correction Amid Emerging Sell Signals

SingularityNET (AGIX) price is trading from $0.90 to $1.47. Given the bearish divergence sell signal detected on the daily chart, there’s a possibility of a correction. Investors should anticipate the potential for AGIX to reach the $0.90 level in a worst-case scenario.

AGIX established a trading range between March 10 and 19, hovering within the $0.90 to $1.47 range. Despite attempts to surpass the range high, AGIX hasn’t gained enough bullish momentum due to prevailing market conditions.

At its current price of $1.31, AGIX has shown a bearish divergence sell signal. This occurs when the price achieves a higher high, but the Relative Strength Index (RSI) forms a lower high, along with similar observations from the Awesome Oscillator (AO).

Unless there’s an improvement in the overall crypto market outlook and a resurgence of bullish trends, AGIX may undergo a correction. In the best-case scenario, holders may see a bounce off the range’s midpoint at $1.89. However, AGIX could plummet by 30% or more if selling pressure escalates, reaching the range low of $0.90.

Conversely, an optimistic market outlook, particularly with Bitcoin’s price surging to $75,000 or $80,000 levels, could prompt a rebound for AGIX from the $1.18 midpoint. This potential recovery rally could signal an uptrend for AGIX.

If such a development leads to a definitive reversal of the $1.47 range high into a support level, it will invalidate the bearish thesis for AGIX.