- AGIX crypto pumped 40% in the past week, with +270% in monthly gains.
- Will the high AI mindshare boost the uptrend in December?
As a seasoned analyst with over two decades of experience in the crypto markets, I’ve seen trends come and go, but the current bullish momentum of AGIX, the Artificial General Intelligence-focused token, has piqued my interest. The 40% weekly surge and the impressive 270% monthly gains have been quite remarkable.
In recent days, the cryptocurrency known as AGIX has shown signs of a robust market trend, associated with Artificial General Intelligence, leading to a significant surge of approximately 40%.
The rally happened after a week-long price consolidation. When adjusted in monthly returns, AGIX was up 270%.
Despite experiencing a minor dip over the last few days, the AI token’s overall trend remains optimistic at present. Will it maintain this bullish momentum moving forward?
What’s next for AGIX crypto?
The pattern of successive higher lows (HL) and higher highs (HH) since November 22nd strengthened the token’s bullish trend as depicted on the 4-hour chart. Despite the significant 26% drop that occurred on November 26th, it failed to convert the market structure into a bearish one.
Even though this development bolsters a positive forecast and suggests further advance towards $0.16 and $0.19, decreased investment in the token might halt the upward momentum.
This concept was demonstrated using the Chaikin Money Flow (CMF), a tool that monitors inflows and outflows of funds associated with tokens or assets.
Over the past few days (Tuesday onwards), the indicator has shown a decrease and stabilization, which suggests that the inflow of funds diminished and stopped after Bitcoin‘s weakness and fall from close to $100,000.
After the U.S. elections, there was a significant surge in CMF that propelled AGIX to increase by more than 300%. However, if the inflows remain sluggish, it might disrupt the anticipation of a robust upward trend.
Additionally, the RSI fluctuated above the 50 median mark, underscoring fluctuating demand.
Will high AI mindshare help?
Read SingularityNET’s [AGIX] Price Prediction 2024–2025
In November, AI-related narratives captured the most attention, and this might have contributed to the significant rise in AGIX cryptocurrency. If this trend continues into December, it’s possible that AGIX could gain from the broader market enthusiasm about the sector.
Additionally, a decrease in popularity or influence (mindshare) could impact the token as well. It’s important to monitor various aspects such as Bitcoin’s performance, the level of attention given to AI, and the market composition of AGIX.
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2024-11-29 09:11