AGIX crypto rally 40% in 7 days – Will AI momentum drive it higher?
Here's why AI mindshare could partly dictate AGIX crypto next price direction.
- AGIX crypto pumped 40% in the past week, with +270% in monthly gains.
- Will the high AI mindshare boost the uptrend in December?
AGIX crypto, one of the champions focused on AGI (Artificial General Intelligence), resumed a bullish market structure in the past week, triggering a 40% gain.
The rally happened after a week-long price consolidation. When adjusted in monthly returns, AGIX was up 270%.
Although the AI token has weakened slightly in the past few days, it was still in a bullish market structure as of this writing. Can it continue with its bullish streak?
What’s next for AGIX crypto?
The higher lows (HL) and higher highs (HH) printed since the 22nd of November reinforced the token’s bullish market structure on the 4-hour chart. Even the 26% drop on the 26th of November didn’t flip the market structure to bearish.
Although this supported the bullish outlook and potential extra rally with immediate targets at $0.16 and $0.19, the reduced flows into the token could stall the uptrend.
This was illustrated by the CMF (Chaikin Money Flow), which tracks money flow into and out of tokens or assets.
Since Tuesday, the indicator has dropped and flattened out, indicating that flows declined and stagnated following Bitcoin’s weakening and drop from nearly $100K.
A massive spike in CMF after US elections tipped AGIX to rally over 300%. So, the stagnated flows could derail a strong upswing expectation.
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
AI narrative topped mindshare in November, which could partly explain the strong uptrend seen in AGIX crypto. If the sector’s dominance extended to December, AGIX could benefit from the overall market interest.
However, a decline in mindshare could also affect the token, and it is worth tracking all the fronts, including BTC strength, AI mindshare, and AGIX market structure.
