In This Post:
- AGIX faces pressure after delisting from Bithumb.
- AGIX merged with Ocean and Fetch.ai into the new ASI token.
- AGIX price is in a strong bearish trend, confirmed by indicators.
The price of AGIX keeps falling after its merger with Ocean (OCEAN) and Fetch.ai (FET). Bithumb, a top crypto exchange in South Korea, announced it will no longer support AGIX. This delisting comes at a tough time as the crypto market recently lost over $60 billion.
AGIX Merges Into ASI Token
Bithumb’s announcement follows AGIX’s merger with FET and OCEAN into a new token called the artificial superintelligence token (ASI). According to Fetch.ai, AGIX and OCEAN holders will have their tokens converted to ASI at these rates:
- 1 AGIX to 0.433350 ASI
- 1 OCEAN to 0.433226 ASI
- 1 FET to 1 ASI
The first phase of this change started on July 1. Phase two is set for August. Bithumb’s delisting is one in a series of removals from major exchanges.
AGIX Price Faces Downward Trend
AGIX is in a strong downward trend. The price fell below $0.5, finding some temporary support. But the pattern shows a potential further drop. The 50-day average price is at $0.688, and the 200-day average is at $0.698, both above the current price. This confirms the downward trend. The 50-day average crossing below the 200-day average, known as a “death cross,” signals a long downward trend.
The main support level for AGIX is around $0.5. Lower support is between $0.25 and $0.30. Immediate resistance is at $0.6, with stronger resistance around $0.688 (50-day average) and $0.698 (200-day average). The Relative Strength Index (RSI) is at 40.54, just above the oversold region. This suggests a minor bounce but overall weakness. The MACD is below the signal line and in negative territory, supporting the downward outlook.
Market Reaction to ASI Token
Focus is shifting to the new ASI token. This causes AGIX to remain stagnant. As more exchanges delist AGIX and investors sell off their holdings, the price is likely to drop further. In summary, AGIX is experiencing a strong downward trend. This is influenced by delistings and market pressure. Key support and resistance levels will play a crucial role in its next move.
