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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Show more +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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