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SingularityNET (AGIX) Price Prediction – When will AGIX hit $5?

SingularityNET (AGIX) Price Prediction – When will AGIX hit $5?

As reported by Bloomberg M&A sources, deliberations are underway between SingularityNET, FetchAI, and Ocean Protocol concerning a prospective token merger. The objective is to establish a novel cryptocurrency known as AltSignals (ASI), estimated to have a fully diluted valuation of $7.5 billion.

By establishing decentralized AI protocols based on blockchain technology, they intend to free these systems from the control of centralized entities.

This revolutionary merger, which is awaiting approval from their respective communities, may be disclosed as early as Wednesday. While the three crypto platforms will continue to function autonomously, they will collaborate within a novel consortium of superintelligence led by Ben Goertzel, the individual credited with conceiving SingularityNET. 

This progression takes place amid intense attention towards artificial intelligence. Considerable conjecture surrounds a Saudi initiative to form a $40 billion investment fund dedicated solely to artificial intelligence (AI), in collaboration with the venture capital behemoth Andreessen Horowitz (a16z). Should this fund be established in the latter part of 2024, it would establish the Saudi government as a preeminent stakeholder in the field.

Let’s see the upcoming SingularityNET (AGIX) Price Prediction from the AGIXUSDT technical analysis:

AGIX/USDT Needs A Push From The Daily Demand Zone

AGIX/USDT Needs A Push From The Daily Demand Zone

Two consecutive bullish monthly candles back the bullish price action in the AGIX/USDT price. Moreover, the price rebounded from a minor bottom at the 0.9026 level, which suggests a potential bullish continuation.

In the daily price action, the bullish pressure since February came with multiple higher low formations, suggesting a stable trend. 

The price trades at the premium zone from the 0.0.9024 low to the 1.4753 top in the current tradable range. Therefore, a bearish possibility is potent in this pair as long as the price trades above the tradable range's 1.8890, 50% Fibonacci Retracement level.

In the broader context, the weekly price suggests a bullish continuation as it trades higher after a solid inside bar formation. Therefore, a new swing high from the near-term resistance could work as a confluence bullish factor for this instrument.

The main chart supports the stable bullish trend by dynamic levels. The 20 DMA is below the price, while the high volume level since February 2024 is just below the current price at 0.7084 level. It is a sign of a reaccumulation of bull orders that can resume the existing trend.

In the near-term price action, a new swing high formation with a bullish break of structure at the 1.4753 could open a potential long opportunity, targeting the 1.8293 resistance level before reaching the 2.4000 level.

On the other hand, a strong bearish break with a daily candle close below the 20-day EMA level could eliminate the bullish structure and initiate a deeper discount toward the 0.6456 level.

AGIX/USDT Ichimoku Cloud Analysis

AGIX/USDT Ichimoku Cloud Analysis

In the daily chart, the broader outlook is bullish, as the recent price showed a bullish continuation above the dynamic Ichimoku Cloud zone.

In the future cloud, both lines will be bullish, where the Senkou Span A remains higher, above the Senkou Span B. It is a sign that a bullish continuation is potent in this pair, creating a potential trend trading opportunity.

In this indicator window, the current Average Directional Index (ADX) shows a potential trend formation, as it shows a bullish reversal from the 20.00 line.

Based on the daily AGIX Price Prediction, a bullish continuation might occur in the current area. However, a bearish correction might occur from the 1.1422 to 0.9022 demand zone before forming another bullish signal.

On the other hand, a bearish break below the Ichimoku Cloud zone with a daily candle below the 0.6456 level could lower the price toward the 0.2371 support level.

AGIX/USDT Intraday Price Action Analysis

AGIXUSDT Intraday Price Action Analysis

In the H4 chart, the current price is trading above the visible range high volume level of 0.8704, which is a primary indication of possible bullish pressure in the coming hours.

The recent price trades at the 20 EMA support, where the near-term static level is at 1.0000 level.

Based on this SingularityNET Price Forecast, a sufficient downside correction is needed before forming a bullish trade setup. Investors should monitor how the price reacts on the dynamic weekly VWAP line. A solid bearish pressure with an immediate bullish rebound could signal a buyers attempt in the market, targeting the 1.7000 level.

Is AGIX/USDT A Buy?

Based on the current SingularityNET Price Prediction today, the bullish trend continuation opportunity needs more time. A sufficient downside correction is needed to complete the profit taking, but a strong rebound is possible from the near-term daily demand zone.

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