SingularityNET price could bounce 30% if AGIX can hold this level

• SingularityNET price trades inside the $0.903 to $1.475 range.
• A recovery in the crypto market outlook could see AGIX rally 30% and tag $1.189.
• A breakdown of $0.811 support level will invaldate the bullish thesis for AGIX. 

SingularityNET (AGIX) price shows signs of stabilizing around a key support level. This development could lead to a beneficial bounce for AGIX holders if the crypto market improves in favor of bulls. 

Also read: Bitcoin price retests $60,600, wiping out Thursday gains in American session

SingularityNET price at critical level

SingularityNET price has been consolidating around the bottom of the $0.903 to $1.475 range for nearly a month. With some AI-tokens showing signs of revival, AGIX needs to be enalyzed for potential breakout opportunities like Arkham (ARKM).

Due to the consolidation of SingularityNET price around $0.903, the chances of a push to the upside is high especially with Bitcoin looking ready for a quick bounce into the $70,000 region. Additionally, the Relative Strength Index (RSI) and Awesome Oscillator (AO) both hovering above their respective mean levels of 50 and 0, paints a bullish picture for AGIX. 

Regardless of the bullish signs, investors need to wait for SingularityNET price to flip the $1.011 resistance level into a support floor before they are confident. If successful, this development will most likely be followed by a rally that retests the range’s midpoint at $1.189. This move would constitute a 30% gain form the current position of $0.920. 

AGIX/USDT 1-day chart

 A daily candlestick close below $0.811 support level will create a lower low and invalidate the bulish thesis for SingularityNET price. This development will skew the odds favoring sellers or bears. In such a case, AGIX could crash nearly 10% and revisit the $0.733 support level.