$AGLD $AGLD

AGLD/USDT: A Bearish Pullback in the NFT Sector

AGLD/USDT, the native token of the Immutable X platform, is currently trading at $1.487, down a significant 20.78% in the last 24 hours. Let's analyze the chart to understand the potential for a recovery or further decline.

Key Levels to Watch:

* Support: $1.470 and $1.400 (These levels could provide buying opportunities if the price dips further.)

* Resistance: $1.646 and $1.800 (Breaking these levels could signal a potential reversal of the current downtrend.)

Potential Strategy:

For a cautious approach, we could wait for a further dip to the $1.400 support level. If the price finds support here, a potential rebound towards the $1.646 resistance level could be on the cards. However, given the current bearish sentiment in the NFT market, it's crucial to monitor broader market trends and any news related to Immutable X.

Disclaimer: This is not financial advice. Always do your own research before making any investment decisions.

What are your thoughts on AGLD/USDT? Do you believe the recent decline is a buying opportunity, or is further downside likely? Share your analysis in the comments below!

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