AI Crypto Token SingularityNET (AGIX) Well Placed For Another Bullish Wave?

SingularityNET AGIX Price News: AI token SingularityNET $AGIX continues to trace its bullish movement since the beginning of 2023. In line with the popularity of AI related projects, the cryptocurrency gained significant interest in last few weeks. However, AGIX is following sideways movement after a bull trap around the first week of February 2023. In a latest, the current formation is likely to favor yet another spell of bullish wave for the AI linked cryptocurrency.

Also Read: Chinese Tech Giants In Race To Launch ChatGPT Alternative

The SingularityNET platform allows for creating, sharing, and monetizing AI services. The cryptocurrency, ranked 84 based on current market size, grew in value by eight times since the rally began since January 1, 2023. As CoinGape reported earlier, interest in AI tokens does not appear to have died down by any extent. On chain data in recent times showed SingularityNET (AGIX) was in the top 10 purchased tokens among the 100 biggest Ethereum whales.

SingularityNET Rally Ahead?

Going by the price pattern followed by $AGIX in the last three weeks, the formation of a symmetrical triangle pattern is a potential sign of a rally coming up for the AI token. In this context, Captain Faibik believes the cryptocurrency is bracing for another bullish pattern. The recent correction in the crypto market could possibly have some bearing on the prospects of the SingularityNET coin.

After The Graph (GRT), SingularityNET is second among the top AI tokens by total market capitalization. After a correction phase, Bitcoin price is beginning the week bullishly, in an encouraging sign for the altcoins. Bitcoin’s jump is coinciding with the 0.36% decline in the U.S. Dollar Index (DXY).

Also Read: XRP Whale Alert: Over 600 Mln XRP Tokens Moved As Price Dips

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @BitcoinReddy and reach out to him at [email protected]