As the markets are heading towards the end of the month, the volatility has surged to a large extent. The weekly trade started with a massive pullback, causing an enormous pullback in the BTC price, which impacted the altcoins as well. However, the major tokens triggered a strong recovery after forming new lows due to which a large number of altcoins have surged with double-digit gains, including SingularityNET (AGIX) & Fetch.ai (FET) prices.
After the rejection from the yearly highs at around $1.4, the AGIX price began to trade within a descending parallel channel. Presently, the price is in the middle of a strong recovery that it initiated after a bounce from the support, which is expected to prevail for a long time. The rising RSI is the reason behind the bullish predictions, which are supported by the converging Bollinger bands. The volume has increased, led by the buyers and hence another bullish push could assist the AGIX price in breaking above the upper resistance of the channel.
Although the price may experience a small correction, the resistance may offer a strong base to initiate an upswing back to $1. On the other hand, the Fetch.ai (FET) price has displayed a similar price action and triggered a healthy rebound from the crucial levels. With this, it appears that the price is primed for another 15% rise before marking the end of the month.
The FET price triggered a strong rebound from the 0.23 FIB level, which was very important as the next support was more than 50% away. With this, the bulls have jumped into action and lifted the levels by 40%. However, the rally does not appear to halt anytime here, as more bullish action is yet to occur. Although the RSI is incremental, DMI has not given a bullish signal as the +Di & Di are yet to undergo a bullish crossover.
Therefore, the Fetch.ai price is expected to maintain a tight consolidation above the gains for some more time. Further, the next bullish push may lift the levels above 0.5 FIB at $1.8, provided the market sentiments remain bullish until the end of the month.
This news is republished from another source. You can check the original article here
