AGIX - not looking good! Prepare for more downside.
First of all, I acknowledge that I've changed my mind on AGIX short term price prospects (see previous post in link below). I acknowledged a risk of a pullback but the resulting move was much more decisive than I was expecting. The Bitcoin wobble has really sparked some sudden short-term reversals and hurt the technical charts of a vast number of coins, but it has also given hope to the strength of others (e.g. SOL). Unfortunately, AGIX is in the former camp.
Not making any predictions on medium- and long-term prospects (so AGIX hodlers: this is not for you), but from a short-term perspective this chart is now looking decidedly dicey. Some more shenanigans at the BTC front (see second previous post below), could see AGIX dropping into the 0.50s before bouncing. Also note that the AGIX/BTC gives the same impression:
https://www.tradingview.com/x/7s8Yw3qa/
I continue to believe the excitement around AGIX and the merger is not all hype, though and look forward to seeing it recover and mint a new ATH later in the year.
Not making any predictions on medium- and long-term prospects (so AGIX hodlers: this is not for you), but from a short-term perspective this chart is now looking decidedly dicey. Some more shenanigans at the BTC front (see second previous post below), could see AGIX dropping into the 0.50s before bouncing. Also note that the AGIX/BTC gives the same impression:
https://www.tradingview.com/x/7s8Yw3qa/
I continue to believe the excitement around AGIX and the merger is not all hype, though and look forward to seeing it recover and mint a new ATH later in the year.
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