The price of SingularityNET (AGIX) has been trading within a range of $0.90 to $1.47, with investors closely monitoring its movements. Recently, there have been indications of a possible correction, mainly due to bearish divergence sell signals observed on the daily chart.
SingularityNET is priced at $1.31, situated within the established range that has persisted since mid-March. Despite attempts to surpass the range high, prevailing market conditions have limited the bullish momentum.
A notable development is the emergence of a bearish divergence sell signal, which occurs when the price forms a higher high. At the same time, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicate lower highs. This suggests a potential weakening of the current upward trend.
In light of these signals, investors should be prepared for a correction in SingularityNET price. In the best-case scenario, the price may find support at the range’s midpoint around $1.18. However, AGIX could experience a more significant decline if selling pressure intensifies, possibly reaching as low as $0.90.
Conversely, improved market conditions, particularly with a bullish trend in Bitcoin price, could lead to a bounce off the range midpoint and a subsequent uptrend for SingularityNET. Should the price successfully flip the $1.47 range high into a support level, it would invalidate the bearish outlook and signal potential upward momentum.
![](https://sniperfx.info/wp-content/uploads/2024/03/image-25-1160x653.png)
Overall, investors should monitor market developments closely to assess the direction of SingularityNET price and adjust their strategies accordingly.