Cup and Handle Pattern Breakout for SingularityNET (AGIX) Suggests a Retest of This Price First, Then a 15x Spike

TraderDT, a crypto analyst on X (@damientraore), has shared his insights on the recent price action of SingularityNET (AGIX), highlighting a significant pattern breakout and its implications for the asset’s future trajectory.

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The Cup & Handle Pattern Breakout
According to TraderDT’s analysis, AGIX has successfully crossed the neckline of a cup & handle pattern, a bullish technical formation that often precedes a substantial price rally. At the time of writing (February 2024), the breakout occurred around the $0.65 level, with the price currently trading at $0.75.

While the cup & handle pattern breakout is undoubtedly a positive signal, TraderDT anticipates a potential retest and consolidation phase around the neckline area of $0.65. This scenario is common after a significant breakout, as the price often revisits the previously broken resistance level before continuing its upward trajectory.

A Potential 15x Increase
In his analysis, TraderDT boldly suggests that AGIX could experience a remarkable 15x increase from its current levels. This prediction is based on the strength of the cup & handle pattern and the historical performance of assets following such breakouts.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

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