- CryptoBusy predicts significant returns for SingularityNET, Render, and Fetch.ai investors.
- Render could reach between $2.40 and $2.50 if it surpasses $1.73.
- SingularityNET could see a 3-4x price increase if it surpasses $0.27.
CryptoBusy, a platform specializing in cryptocurrency market analysis and education, has forecasted potential significant returns for investors in SingularityNET (AGIX), Render
Render (RNDR)
The analyst underscored the formation of a bearish head and shoulders pattern on the daily chart of the cryptocurrency over the recent weeks. Additionally, he disclosed that the price of RNDR had breached the “neckline”, a critical level in the bearish chart pattern.
The CryptoBusy analyst suggests that if RNDR surpasses the $1.73 mark, it could propel the altcoin’s value to between $2.40 and $2.50. Concurrently, data from CoinMarketCap shows that RNDR is trading at $1.47, reflecting a 24-hour increase of 6.32%.
Technically speaking, the 9-day Exponential Moving Average (EMA) line was poised to intersect the 20-day EMA line. If these two technical indicators intersect, it suggests a shift in short-term momentum towards the bulls. This could trigger a subsequent increase in the price of RNDR.
SingularityNET (AGIX)
The analyst remained relatively tight-lipped regarding AGIX but indicated that a surge past the $0.27 mark could trigger a 3-4x price increase for the AI-based cryptocurrency in the subsequent weeks. As of the latest update, the altcoin still has some ground to cover to hit this potential trading entry point, with its current trading price at $0.1874. Despite this, AGIX has seen a notable uptick of over 6% in the last 24 hours.
Like RNDR, the 9-day EMA line on AGIX’s chart was poised to intersect with the 20-day EMA line. Furthermore, AGIX’s daily chart exhibited a symmetrical triangle pattern, indicating a likely breakout within the forthcoming fortnight.
Should the altcoin’s value experience an upward breakout, it has the potential to ascend towards the $0.27 target, as indicated in the analyst’s presentation. Conversely, a downward breakout could see AGIX’s price revisiting the critical support threshold of $0.15 in the forthcoming days.
Fetch.ai (FET)
In conclusion, the analyst highlighted the formation of a bullish divergence on FET’s daily chart. The video presentation demonstrated that the MACD indicator was charting higher lows despite the cryptocurrency’s price marking lower lows. As per the analyst’s interpretation, this could signal an impending bullish trend reversal.
At the time of reporting, the short-term momentum leaned towards the buyers, as evidenced by the 9-day EMA line’s position above the 20-day EMA line on FET’s daily chart. Should this bullish momentum persist, it could lead to the cryptocurrency’s price challenging the longstanding negative trend line.
If FET’s value surpasses the $0.2420 mark, it could escalate to the next major resistance level at $0.290 in the subsequent weeks. Conversely, if it fails to breach the multi-month trend line, the altcoin could be vulnerable to a decline towards the $0.1715 support level.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
