AGIX maintains momentum above the 100-day moving average – a rally is imminent?

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AGIX is one of the leading ones AI tokens in the cryptocurrency space with a total supply of 2 billion and a total trading volume of over $105 million, down over 11% in the last 24 hours.

For over two days, the price is approx AGIX remains well above the 100-day straightforward moving average (SMA). The token, which has been in a down ally position for several days, is showing some signs of a price reversal and if this happens, a change in direction could occur and the AGIX price will start a up-to-date upward move.

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At the time of writing, AGIX is trading approximately $0.98817 above its 100-day straightforward moving average, up approximately 1.68% in the last 24 hours. There are currently two major resistance levels at $0.99038 and $1.04237 and two major support levels at $0.82620 and $0.75779 respectively.

Technical indicators suggest an upside rally for AGIX

4-Hour MACD: A technical look at the MACD indicator from the 4-hour time frame, the MACD histograms are trending above the zero line, and both the MACD line and the Signal line have crossed and are trending above the MACD zero line, which indicates a bullish trend. You can see this in the image below.

4-Hour RSI: The formation of the Relative Strength Index (RSI) in the image above also suggests that AGIX price is bullish as the RSI signal line is trending above the 50% level. This means that buyers are energetic in the market, thereby outweighing the power of sellers.

Alligator indicator on the 4-hour time frame: A look at the alligator indicator on the 4-hour time frame shows that the price is above the alligator line when the alligator lip and teeth have successfully crossed the alligator jaw, which suggests that the price may continue to move higher.

AGIX

Support and resistance levels to be broken

To summarize, AGIX price is currently trading near the $0.99038 resistance level and if it manages to break above this level, AGIX price will continue to move towards the $1.04237 resistance level and if it breaks above this level, a trend could begin growth.

However, if AGIX price fails to break above these resistance levels, it will reverse and begin moving down towards the previous support level of $0.82620. If it manages to break below this support level, the price could move further to test the $0.75779 support level.

AGIX
AGIX trades at $0.97865 on 1D Chart | Source: AGIXUSDT Tradingview.com

Featured image with X, chart from Tradingview.com

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