AGIX crypto, one of the champions focused on AGI (Artificial General Intelligence), has resumed its bullish market structure over the past week, sparking a 40% rally.
The rise comes after a week of price consolidation. Adjusted for monthly gains, AGIX is up 270%.
Although AI Token has weakened slightly over the past few days, it is still in a bullish market structure as of the time of writing. Can it continue its bullish momentum?
What’s next for AGIX encryption?
The rising lows (HL) and highs (HH) since November 22 reinforce the bullish market structure for the coin on the 4-hour chart. Even with the 26% drop on November 26, the market structure did not turn bearish.
While this supports the bullish outlook and potential additional rallies with short-term targets of $0.16 and $0.19, the decline in token inflows could hamper the uptrend.
This is illustrated by CMF (Chaikin Money Flow), which tracks the inflow and outflow of funds into and out of a token or asset.
Since Tuesday, the metric has fallen and leveled off, suggesting that as Bitcoin has weakened and fallen from nearly $100,000, flows have also fallen and stagnated.
CMF surged after the US election, with AGIX on track to gain more than 300%. Therefore, stagnant fund flows could undermine expectations of a strong rally.
Moreover, the RSI is fluctuating above the 50 midpoint, highlighting the volatility in demand.
Does high-AI mind-sharing help?
The AI narrative dominated attention in November, which could partially explain the strong uptrend in the AGIX cryptocurrency. If the sector’s dominance continues into December, AGIX could benefit from overall market interest.
However, a decline in mind share could also impact the token and it’s worth tracking all aspects including BTC strength, AI mind share, and AGIX market structure.