SingularityNET’s AGIX Breaks Crucial Resistance; Bulls Now Eye This Price as the Next Upside Target

Earlier this week, cryptocurrency analyst David (@DavidOnCrypto_) pointed out a key technical breakout for SingularityNet’s AGIX token. As David highlighted, AGIX was able to break decisively above the $0.67 level that had previously acted as stiff resistance:

“$AGIX Weekly Broke out above the $0.67 double top, which it rejected from back in Feb Of 2023, retest and boom the catch-up continues. $1 this week?”

This breakout was significant because that $0.67 zone had rejected the price on two separate occasions in February. Since David’s callout, AGIX has continued climbing to around $0.80 at the time of this writing. However, indicators are flashing signs of overextension.

Overbought Condition
In particular, AGIX’s weekly relative strength index (RSI) has now surged to 86. This signals extremely overbought conditions that often precede pullbacks or consolidations.

So while bulls have momentum on their side for now, traders will be keeping an eye on whether the RSI levels off to avoid a sentiment mean-reversion. If AGIX can hold support during any cooldown period, it could validate the breakout and keep $1 in sight as a next upside target.

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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.