AGIX is one of the main AI Tokens in the crypto space with a total supply of 2 billion and a total trading volume of over $105 million, representing a drop of over 11% in the last 24 hours.
For more than two days, the price of AGIX has been holding strong above the 100-day simple moving average (SMA). The token, which has been in a bearish ally for a few days, is showing some signs of price reversal and if this happens there could be a change in direction and the AGIX price will begin a new upward movement.
At the time of writing, AGIX is trading around $0.98817 above the 100-day simple moving average, up about 1.68% over the last 24 hours. Currently, there are two major resistance levels of $0.99038 and $1.04237 and two major support levels of $0.82620 and $0.75779, respectively.
Technical Indicators Suggest Upward Recovery for AGIX
4-hour MACD: A technical analysis of the MACD indicator on the 4-hour time frame, 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 trend High. This can be seen in the image below.
4-hour RSI: The Relative Strength Index (RSI) formation in the image above also suggests that AGIX price is bullish as the RSI signal line is trending above the 50% level. This indicates that buyers are active in the market, therefore dominating the strength of sellers.
Alligator Indicator on the 4-hour time frame: A look at the alligator indicator on the 4-hour time frame shows that the price is trading above the alligator lines as the alligator’s lips and teeth have successfully crossed above the alligator’s jaw, suggesting that the price may continue to move in an upward direction.
Support and resistance levels to break
Conclusively, AGIX price is currently trading around the $0.99038 resistance level and if it manages to break above this level, AGIX Price It will continue to advance towards the $1.04237 resistance level and if it surpasses this level, an upward trend could begin.
However, if AGIX price fails to break these resistance levels, it will reverse and begin a downward move towards its previous support level of $0.82620. If it manages to break below this support level, the price could rise further to test the $0.75779 support level.
Featured image of X, chart from Tradingview.com