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The SingularityNET price skyrocketed more than 220% in the last month to trade at $0.8259 as of 8:55 a.m. EST as investors rapidly accumulate the AI crypto.
Its surge comes amid positive recent developments in the booming AI industry with the latest boost coming from stellar earnings from AI chip maker Nvidia, which triggered double-digit gains for AI cryptos from AGIX to RNDR, AKT, TAO and FET.
The SingularityNET Price Breaks Another Major Resistance Level
4-hour chart for AGIX/USDT (Source: TradingView)
The SingularityNET price has formed a short-term positive channel after it printed a series of higher highs and higher lows over the past few days. This positive momentum allowed the altcoin to break above the $0.76307 resistance level in the past couple of hours. Should it close a 4-hour candle above this threshold in the next 24 hours, it may keep rising in the coming days.
On the other hand, a rejection from this barrier could put the SingularityNET price at risk of falling to the immediate support level at $0.58965 in the following 48 hours. Continued sell pressure at this point may then drag AGIX’s value down to the subsequent support level at $0.46075 in the short term.
Technicals Suggest The SingularityNET Price May Keep Rising
Technical indicators on AGIX’s 4-hour chart suggest the SingularityNET price may continue its positive trajectory in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish.
The MACD line recently rebounded from the MACD Signal line. The prior has since been breaking away above the latter, which may be a positive sign for buyers. Traders generally see this as a sign that AGIX’s positive trend is growing stronger. The altcoin’s price may keep climbing if this technical occurrence is validated.
The RSI indicator supports a short-term bullish outlook, as the RSI is breaking away above its Simple Moving Average (SMA) line. Over the past 24 hours, the RSI crossed above the SMA line, which indicates that buyers have gained the upper hand against sellers. As a result, bulls may continue to drive the SingularityNET price higher in the upcoming couple of days.
But SingularityNET is not the only AI-based crypto that is on a bullish streak, with eTukTuk’s presale surging towards the $2 million mark.
On A Mission To Tackle Global Carbon Emissions
eTukTuk is an AI-powered green project that aims to slash global carbon emissions. One of the ways the project plans to achieve its goal is through the launch of its electric TukTuk vehicle.
The ICE versions of these vehicles are popular modes of transport in highly-populated developing countries such as Bangladesh, Pakistan, and Thailand, which opens the project to an extensive user base.
"eTukTuk is one of the most creatively revolutionary projects to enter the EV sector in a long while. Although there are many EV projects, few align with the reality of people living in developing economies." – @CoinGapeMedia
Read more here:https://t.co/ZfqdSLkbG7
— eTukTuk (@eTukTukio) February 6, 2024
The project also lowers the barrier to adoption with the simple design of its three-wheeler taxis. Manufacturers are able to build these electric vehicles with just 200 components.
This, coupled with the project’s strategic partnerships with local manufacturers, brings down the cost substantially for governments to roll out eTukTuk’s mini taxis in their jurisdictions.
Once purchased, drivers will have access to cutting-edge blockchain and AI technology, which will optimize routes for them as well as provide predictive maintenance, among other things.
This will subsequently increase the tight-profit margins mini taxi drivers currently struggle with in developing countries. The potential to earn in the ecosystem is increased by the fact that eTukTuk rewards anyone that helps establish charging stations for these electric vehicles with its native TUK token.
The Next Best Altcoin To Buy
eTukTuk’s green AI-powered blockchain ecosystem has all the technology needed to make a significant impact on global carbon emissions. Its appeal to mini-taxi drivers in highly-populated developing countries also gives the project access to a large potential user base in an untapped market.
This separates eTukTuk from the majority of other newly-launched crypto projects, which have to fight to gain traction in the market.
eTukTuk’s presale is a telling sign of the project’s potential to become the next best altcoin in the market. The project’s ICO recently broke past the $1 million threshold and already stands at $1.3 million raised.
Currently selling for $0.02725, TUK can be purchased using either Binance Coin (BNB), Tether (USDT) or bank card.
TUK can be purchased here.
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