The cryptocurrency community is poised for a significant event as SingularityNET prepares to release a portion of its AGIX tokens. This unlock, scheduled for tomorrow, represents a mere 0.69% of the total AGIX supply, yet it amounts to an $11.75 million market value. With the token currently priced at $1.34 and hours counting down, investors are keenly observing the potential impact on market dynamics. This event forms part of a larger wave of tokens, cumulatively valued at $382.91 million, set to be unlocked in the next week, as per data from the Token Unlocks analysis platform.
Investors Eye Final Countdown
The anticipation builds as the market watches the AGIX unlock closely. This event could influence trading patterns and investor strategies significantly. The release of these tokens into circulation is a moment of truth for both the project and its followers, with potential shifts in the token’s value at stake.
Technical Outlook on AGIX
In the realm of technical analysis, AGIX’s price movement is forming a rising channel on the two-hour chart, with only a couple of bull traps marring the overall upward trend. The EMA 200 has been acting as a reliable support, propelling AGIX’s price forward. Traders are watching support levels at $1.31, $1.25, and $1.17, where a dip below $1.25 could signify a downturn. Conversely, resistance levels at $1.34, $1.39, and $1.46 present hurdles, with a breakthrough above $1.39 potentially heralding continued gains.
The imminent token unlock event for SingularityNET’s AGIX is a focal point for the cryptocurrency market, with significant value set to be released. Investors and analysts are keeping a close eye on the event’s outcome and its subsequent influence on the token’s price trajectory.