Sam CoolingLong-term play SingularityNET (AGIX) is currently trading at $0.40. This marks a +3.38% 24 hour gain as AGIX battles to hold support.
Following my warnings earlier in the week to watch out for the AGIX retrace and see where support lands.
The critical retrace is underway! From a hard ceiling of resistance at $0.65 has currently left AGIX reeling.
Price action is currently battling to hold new-found support at $0.40 as AGIX attempts consolidation.
Source: TradingView – AGIX/USDT
But, price action today is perilous. With the chart structure sat in a dicey head-and-shoulders pattern – a classic bearish sign.
Today will see price action testing buy pressure at the $0.40 level. If supportive pressure is sufficient the stage is set to push up.
And this is increasingly likely as the STF price action seems to have found a bit of a footing over the past 24 hours. A big bullish candle here could see a run up to our week-long target of $0.80.
How high could SingularityNET (AGIX) climb?
The RSI 14 is sat at 45. A fairly neutral reading – signalling consolidation could be the most likely price action. The slight bullish divergence further confirms this theory.
The MACD reads at -0.018, signaling minor bearish divergence. This shouldn’t cause too much worry and just reflects the retrace from $0.65.
Bulls sit poised with strong upside potential if support holds, this provides a target of $0.80 (+97%).
Downside risk suggests the next support level would be $0.20 (-50.55%), this is further solidified by the rising 200 Day MA.
Source: TradingView – AGIX/USDT
Overall this produces a Risk:Reward ratio of 1.92, far more attractive than earlier in the week which read 1.69.
If you took my warning to wait for a better entry, this could be it.
Bitcoin macro sentiment influences AI coin rally
Macro sentiment further confirms this as a strong entry. Bitcoin (BTC) is due to collide with support off its 200 Day MA and should bounce.
This will help invigorate markets that have been tracking BTC’s poor start to February (-8.6%).
AI coins have been rallying off the back of January’s sensational New Year recovery. Generally speaking, alt season occurs when BTC rally fatigues as investors move new gains across into altcoins in an attempt to double-down.
This helps to explain the huge AI coin inflow volumes. Traders with fresh gains from BTC were enthused with the AI narrative from products such as ChatGPT and Google BART.
What other projects could outperform AGIX in 2023?
Here are some other top projects in the AI and GameFi sectors that could rival AGIX performance over the coming months – enabling you to capture the best gains!
DASH 2 TRADE (D2T)
Set to launch by the end of this quarter, Dash 2 Trade is a trading intelligence platform that will provide real-time analytics and social trading data, giving investors all the resources and tools they could possibly need to inform and improve their trading.
By leveraging AI technology to perform high-level social and market sentiment analysis – D2T enables traders to sit on the pulse of global markets effortlessly.
Having raised a jaw dropping $15 million in its sale, D2T has now listed on Gate.io, with BitMart, Changelly Pro, and LBANK Exchange also listing the coin.
So needless to say this project has all the right backing to grow into a very popular AI powered dApp.
Meta Masters Guild ($MEMAG)
Meta Masters Guild (MMG) is intent on changing the GameFi space for the better. This promising new sector has been reputationally damaged by an intense focus on monetisation – a huge put off for players globally.
MMG is on a mission to change this, partnering with major triple AAA studios such as GameAround to deliver high-octane immersive video gaming experience well ahead of any in-game economics via the growing MMG ecosystem.
$MEMAG is currently on presale in the penultimate 6th round with only two days left until the final 7th round begins! This will see the price of $MEMAG leap almost 10% to $0.021 a token.
The ecosystem already has a number of games in the presale including Meta Kart Racers and Raid NFT. This is impressive project growth from an ecosystem that hasn’t even finished presale funding! One of the most exciting games under development is Meta Masters World – aiming to deliver strategy gaming to the Web3 market for the first time.
Players start with a small army, and set out into a war-torn world of PvP empire-building. You can acquire your land by accumulating riches or blood spilled. There is full character customization planned to allow you to become the character you always imagined. And if you acquire enough land in the meta – your empire will pay you in real life with the planned in-game currency redeemable for $MEMAG too. There, of course, will be an economics marketplace similar to RuneScape that will allow players to use $MEMAG to upgrade their empires.
More details are set to be revealed on this title soon. Follow Meta Masters Guild on Discord and Telegram to keep up to date.
Participate in the $MEMAG presale here!
Fight Out ($FGHT)
Fight Out is another revolutionary crypto project coming to the exchanges soon (tipped for April). The exciting Move-2-Earn project is set to shake-up the space with innovative technology that challenges the likes of STEPN that can only monitor simple walking exercise.
Fight Out is delivering a holistic monitoring system that can record any exercise from your time in the weight room to the hours down the Dojo. With almost $4 million raised in a presale launched toward the end of Q4 2022.
Fight Out hopes to remove the barriers to entry that come in the form of Web3 knowledge and expensive starter NFTs associated with platforms like STEPN.
The main approach is to open the web3 industry so that everyone can benefit while living a healthy lifestyle. Users who join this new ecosystem will have access to a Move-to-Earn (M2E) fitness app and a chain of physical gyms spread around the world. Fight Out rewards all types of exercise – and really pays with the native $FGHT token empowering an entire marketplace of physical and digital rewards.
Despite Fight Out being in the presale stages, the team is already making inroads in the crypto industry. Today the team had a project interview with Binance check it out here!
Dash 2 Trade - New Gate.io Listing
This article was written for Business 2 Community by Sam Cooling.
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