Bulls on SingularityNET Aim For $2, and Scotty AI Raises More Than $800K in Presale

According to an analyst, SingularityNET's recent performance suggests a breakout on higher time frames, potentially propelling AGIX towards $2 in the upcoming months.

Source: coinchapter.com

Simultaneously, traders show bullish sentiment towards Scotty the AI, with its presale surpassing $800K. Could this emerging trend indicate the next AI coin is poised for significant growth?

After a Breakout, AGIX Confirms the Analyst's Theory

On February 19, Analyst ParabolicP presented a trade thesis, suggesting that SingularityNET might surge towards $2. At the time, AGIX was priced at $0.46, significantly below the trader's optimistic target. Initially, it hadn't exhibited notable momentum compared to the broader crypto market. However, amidst the recent crypto-AI boom, the scenario underwent a significant shift. SingularityNET spiked to highs of $0.84 on Feb. 23, breaking above the previous weekly time frame resistance to forge a cup and handle dreams.

A cup and handle is a chart pattern resembling a cup, indicating a consolidation phase before a bullish continuation. It often precedes a significant upward move following a breakout. After the recent increase, AGIX has retraced to $0.68, which coincides with the resistance level of the cup and handle pattern. A rebound from this level would be considered bullish, as it would signify a retest of the previous resistance, potentially turning it into support. Another market analyst, Finsends, also expects a bounce from the current level of AGIX, indicating a potential move towards $0.95 in the near-to-mid term. Subsequently, the analyst predicts that AGIX will experience a pullback, retesting the $0.90 level before resuming its upward momentum towards $1.05.

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