SingularityNET Price Prediction: AGIX Soars 32% As Nvidia Earnings Lift AI Tokens, But Traders Flock To This Meme Coin With Time Running Out

The SingularityNET price jumped 32% in the last 24 hours to trade at $0.7132 as of 4 a.m. EST on trading volume that skyrocketed 133% to $452.4 million.

The AGIX price has soared 120% in the past week, and it now stands at a six-year high. Its latest tear came amid a boost for AI coins after AI chip maker Nvidia reported fourth-quarter earnings that exceeded analyst expectations.

Because of a great #Nvidia earnings report, #AI coins have been surging! 🚀

Here is the performance of AI #crypto on Wirex:

📈 $AGIX – $0.7067 (+35.5%)
📈 $RNDR – $7.28 (+19.0%)
📈 $FET – $1.13 (+14.3%)

Tell me in the comments, what are you trading today? 🤔👇 pic.twitter.com/xAoZmuCAS8

— Wirex (@wirexapp) February 22, 2024

SingularityNET Price Prognosis

SingularityNET’s price saw major growth in the last seven days, but the biggest surge came in the last 24 hours. And, while the token reached its highest point in six years, it also seemingly hit the ceiling — at least for the moment.

It appears that the token has found a major resistance at $0.72, which stopped its progression over the past 12 hours. However, the project also found a strong support at $0.70, and for the time being, it remains stuck between these two levels, where it rapidly stabilized.

With that said, it is very likely that the token will soon break the support and start spiraling down, as multiple technical indicators suggest that the bearish pressure is rapidly approaching.

First, as can be seen on the chart below, the token’s Bollinger bands have narrowed extremely quickly, and the price is rapidly approaching the lower band.

Narrow bands are one of the signals of the turning of the market sentiment from bullish to bearish, which is something to keep in mind.

Of course, no single technical indicator should be trusted on its own, which is why we also considered the token’s Relative Strength Index (RSI) level. Unfortunately, this indicator is also flashing bearing signals, with the level rapidly declining after recently venturing into the oversold zone.

At the time of writing, the RSI score has dropped to a more neutral position, with its current value at 57.66. If it were to stop its decline here, SingularityNET might be able to stabilize and stay where it is.

However, chances are that the traders will continue to sell in order to take profit, which will push both RSI and the token’s price further down.

This is why we expect RSI to go into the oversold zone in hours to come, and for the token’s price to break the support at $0.70.

As for how deep it will drop, that is difficult to say. The token has a fairly strong resistance at $0.65, although it is not impossible for it to break this support too, and potentially head further down, back to $0.50.

While this is not a certainty, and AGIX could still remain at its current level, it is very likely that a correction will take place in hours, and potentially days to come.

Promising Alternatives to SingularityNET

Investors looking to diversify their crypto portfolios might want to consider meme coin Sponge V2 (SPONGE), which aims to repeat the 100X gains of its predecessor, Sponge V1, last year.

Sponge V2 is a meme coin project that comes as the second version of a project called Sponge (SPONGE). The original was launched in 2023, but it has since been discontinued.

The first Sponge saw a massive wave of popularity, and that 100x pump. However, its team now believes that it can make V2 even better and bigger than before.

They discontinued the original project and bridged the tokens to V2, allowing users to stake them and earn even more SPONGE in staking rewards.

Only 2 days left until we discontinue $SPONGE V1! 🚨

If you do not move and stake your SPONGE V1 tokens before 5th of February, you will not receive SPONGE V2.

Act fast to ensure a smooth transition! 🙏💎#SPONGE #Crypto #MemeCoin #PEPE #Staking #Binance #Alts pic.twitter.com/yLH4QwrDGp

— $SPONGE (@spongeoneth) February 3, 2024

Investors can buy SPONGE V2 on the project’s website in exchange for ETH or USDT, and join countless others who have so far staked over $10.2 million in SPONGE tokens.

But with rumors that the project will list on multiple new major exchanges soon, those who are interested should act fast before it’s too late.

Visit SPONGE here.

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