AGIX Sustains Momentum Above 100-Day Moving Average – Rally Imminent?
18 Maggio 2024 - 5:00PM
NEWSBTC
AGIX is one of the leading AI tokens in the crypto space with a
total supply of 2 billion, and a total trading volume of over $105
million, which is over 11% down in the last 24 hours. For over two
days, the price of AGIX has been holding strong above the 100-day
Simple Moving Average (SMA). The token which has been on a downward
ally for quite some days, is showing some signs of price reversal
and if this happens a change of direction might occur and the price
of AGIX will start a new movement upward. As of the time of
writing, AGIX was trading around $0.98817 above the 100-day simple
moving average, about 1.68% up in the last 24 hours. Currently,
there are two main resistance levels of $0.99038 and $1.04237 and
two main support levels of $0.82620 and $0.75779, respectively.
Technical Indicators Suggest Upward Rally For AGIX 4-Hour MACD: A
technical look at the MACD indicator from the 4-hour timeframe, the
MACD histograms are trending above the zero line, and both the MACD
line and the Signal line have crossed and are trending above the
MACD zero line, indicating a bullish trend. This can be seen in the
below image. 4-Hour RSI: The formation of the Relative Strength
Index (RSI) in the above image also suggests that the price of AGIX
is bullish as the RSI signal line is seen trending above the 50%
level. This indicates that buyers are active in the market
therefore overpowering the strength of sellers. Alligator Indicator
on the 4-hour timeframe: A look at the alligator indicator from the
4-hour time frame shows that the price is trading above the
alligator lines as the alligator lip and teeth have both
successfully crossed above the alligator jaw, suggesting that the
price might continue to move in an upward direction. Support And
Resistance Levels To Break Conclusively, the price of AGIX is
currently trading around the $0.99038 resistance level and if it
manages to break above this level, AGIX’s price will continue to
move further toward the $1.04237 resistance level and if it breaks
above this level, an upward trend might begin. However,
should the price of AGIX fail to break these resistance levels, it
will reverse and start a downward movement toward its previous
support level of $0.82620. If it manages to break below this
support level, the price might move further to test the $0.75779
support level. Featured image from X, chart from Tradingview.com
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