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AGIX price surged to $0.1115, the highest since April 28th. It has surged more than 238% since its June low. According to CoinGecko, its market capitalization has exceeded $91 million. SingularityNET is cryptocurrency price Crashed.
Artificial intelligence (AI) is one of the most important technologies in the world. It is used in most industries, such as the automotive and technology sectors.
SingularityNET is a technology project that seeks to combine the power of artificial intelligence with blockchain technology. The network runs several major products such as AI Marketplace, AI Publishers, and AGIX Staking.
Its AI Marketplace allows people to test and buy AI products such as real-time voice cloning, abstract summarization, Minecraftizing services, and machine translation.
Meanwhile, its AI Publisher project will enable people to build applications that integrate artificial intelligence. AGIX is the native token for SingularityNET products.
It is unclear why the price of AGIX went into a parabola on Thursday. A possible reason is that the developer is hosting a Rare Bloom event this weekend. This is an event that hosts the Cardano Community Network for Innovators, Builders, Entrepreneurs and Creatives.
Therefore, AGIX is rising as investors believe the coin will do well during this rare bloom event. Historically, cryptocurrencies tend to do well before major events.
AGIX’s rise is notable because it happened on a day when most cryptocurrencies are in the red.Most coins such as Bitcoin, Ripple ethereum price Crashed after strong US inflation data.
The 4-hour chart shows that the SingularityNET price has formed a triple bottom pattern, shown in black. This is a pattern to watch as it is usually a bullish sign. While oscillators such as the Relative Strength Index (RSI) and MACD have continued to rise, they have broken above all moving averages.
Therefore, a move above the key resistance level of $0.1115 indicates that there are still many buyers in the market. If this happens, the next significant level to watch will be $0.1300. Our bullish view will be invalidated if the $0.07 support breaks down.
