Artificial intelligence (AI) focused altcoin SingularityNET ($AGIX) has been on the rise since the beginning of 2023. In addition to the popularity of AI-driven projects, AGIX is also tracking sideways movement after a bull trap in early February 2023. Finally, the current formation is likely to support another bullish wave spell for the AI-connected cryptocurrency.
SingularityNET platform, artificial intelligence It enables the creation, sharing, and monetization of services. Ranked 84th by current market size, the cryptocurrency has gained eightfold since the start of the rally since January 1, 2023.
Koinfinans.com As we have reported, interest in AI tokens does not seem to have diminished to any extent. Recent data shows that SingularityNET (AGIX) is among the top 10 purchased tokens among the 100 largest Ethereum whales.
Will the SingularityNET Rally Continue?
According to the price pattern watched by AGIX over the past three weeks, the formation of a symmetrical triangle pattern is a potential sign of an upcoming rally for the AI token. Captain Fabik, cryptocurrency believes that his unit is preparing for another bullish formation. The recent correction in the crypto market could possibly have some impact on the prospects of the SingularityNET coin.
After a correction phase, Bitcoin price starts the week bullish as an encouraging sign for altcoins. Bitcoin’s bounce coincides with a 0.36% drop in the US Dollar Index (DXY).
You can follow the current price action here.