Articles
SingularityNET price eyes 10% correction in the best-case scenario as sell signals emerge
381367 March 30, 2024 12:29 FXStreet Market News
- SingularityNET price trades inside the $0.90 to $1.47 range.
- A correction is plausible, considering the bearish divergence sell signal on the daily chart.
- Investors can expect AGIX to sweep the $0.90 level in a worst-case scenario.
SingularityNET (AGIX) price set up a range by mid-March and is currently trading inside it, trying to establish a directional bias. Before AGIX decides on a bias, investors can expect it to resolve the sell signal.
Also read: OCEAN, GRT, FET: Artificial Intelligence projects with high developer activity
SingularityNET price at crossroads
SingularityNET price set up the $0.90 to $1.47 range between March 10 and 19. Since then, AGIX has tried to sweep the range high but has fallen short of bullish momentum due to the market conditions.
Trading at $1.31, SingularityNET price has flashed a bearish divergence sell signal. This setup is obtained when the price sets up a higher high, but the Relative Strength Index (RSI) forms a lower high. The same can be observed with the Awesome Oscillator (AO), another momentum indicator.
Unless the crypto market outlook improves and resumes the bullish trend, SingularityNET price is due for a correction. The best-case scenario for holders would be a bounce off the range’s midpoint at $1.89. But if the selling pressure climbs over the weekend, AGIX could drop 30% or more and sweep the range low at $0.90.
Read more: Fetch.ai, SingularityNET, and Ocean Protocol to merge AI tokens
AGIX/USDT 1-day chart
On the contrary, if the market outlook improves, with Bitcoin price heading to the $75,000 or $80,000 levels, SingularityNET price could bounce off the midpoint at $1.18. This recovery rally could put AGIX on the path of an uptrend.
If this development leads to a decisive flip of the $1.47 range high into a support floor, it would invalidate the bearish thesis.
Also read: Will AI coins make a comeback after meme coins stop rallying?
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Avalanche price might need to drop 5% to 10% before AVAX bulls eye retest of $80
381365 March 30, 2024 11:05 FXStreet Market News
- Avalanche price shows signs of exhaustion as it approaches the $51 to $56 resistance zone.
- The bearish divergence developed on the weekly chart forecasts a potential correction.
- The immediate imbalance, extending from $45 to $50, is a good level for long-term buyers to accumulate.
- Invalidation of the bullish thesis will occur on the flip of the $39 support floor into a resistance level.
Avalanche (AVAX) price has been struggling to overcome a critical resistance zone for three weeks now. Considering Bitcoin’s slowdown and sell signs, a potential correction might be due for AVAX in the short term.
Also read: Bitcoin back above $67K as Memecoins push up SOL and AVAX
Avalanche price to provide buying opportunities
Avalanche price overcame the $40 psychological level in late December but rebalanced the $22 to $31 imbalance, allowing sidelined buyers to accumulate. As a result of this buying pressure, AVAX shot up 140% in the under two months.
Between late December and mid-March, Avalanche’s price set a higher high. However, the Relative Strength Index (RSI) and the Awesome Oscillator (AO) formed lower highs. This non-conformity is termed bearish divergence and often results in corrective moves for the underlying asset.
In this case, Avalanche price has already shed 19% from the recent local top of $65 and is likely to shed more weight. The immediate imbalance, extending from $45 to $50, is the first accumulation zone, which is roughly 5% to 10% away from the current level of $53.
If history repeats, a dip into this level should generate enough buying pressure to shatter through the $51 to $56 resistance zone and retest the next critical hurdle at $80. This level is the midpoint of the previous bearish market for AVAX.
Read more: Altcoins that show strength during Bitcoin price decline: JUP, SEI, AVAX, GALA and SUI
AVAX/USDT 1-week chart
On the other hand, if Avalanche price continues to dip beyond the $45 to $50 imbalance, it would denote a general weakness in the market. In such a case, AVAX will encounter the weekly support level at $40.
If there is a massive spike in selling pressure that pushes Avalanche price to flip the $40 level into a resistance level, it would invalidate the bullish thesis. Such a development could see AVAX crash 28% and tag the next key support level at $28.
Read more: Avalanche Foundation’s meme coin investments are underwater, AVAX price sees 36% weekly gains
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Mexico Fiscal Balance, pesos fell from previous -159.14B to -263.06B in February
381364 March 30, 2024 05:02 FXStreet Market News
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Australia CFTC AUD NC Net Positions up to $-105.5K from previous $-107.5K
381363 March 30, 2024 03:45 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Japan CFTC JPY NC Net Positions fell from previous ¥-116K to ¥-129.1K
381362 March 30, 2024 03:40 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Eurozone CFTC EUR NC Net Positions dipped from previous €48.3K to €31.2K
381361 March 30, 2024 03:40 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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United States CFTC S&P 500 NC Net Positions climbed from previous $-194.2K to $-169.4K
381360 March 30, 2024 03:35 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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United States CFTC Gold NC Net Positions fell from previous $201.6K to $199.3K
381359 March 30, 2024 03:35 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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United States CFTC Oil NC Net Positions climbed from previous 277.8K to 278K
381358 March 30, 2024 03:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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United Kingdom CFTC GBP NC Net Positions declined to £35.2K from previous £53.2K
381357 March 30, 2024 03:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Forexlive Americas FX news wrap: Powell says PCE report “pretty much in line”
381356 March 30, 2024 02:45 Forexlive Latest News Market News
Markets:
- Markets closed for Good Friday
- FX essentially unchanged
A holiday throughout global markets usually makes for a quiet news day but that wasn’t the case today with US PCE, Powell and some other odds-and-ends.
The PCE report had something for everyone but there was some US dollar selling in the aftermath. I suspect some of that was a sigh of relief that it wasn’t hot and some was due to the m/m core unrounded at +0.261% compared to +0.3% expected. Now some of that might have been because of an upward revision to January to +0.5% from +0.4% but the market will take the help where it can get it.
Powell himself struck me as incrementally more hawkish, though he did say that today’s PCE report was “pretty much in line with our expectations” and “good to see”. At the same time, he said the Fed wants to see more inflation reports like last year, which indicates it’s not enough.
What struck me was that he didn’t highlight the opportunity to cut rates this year, though he wasn’t really asked about it. In the longer term, he said that if inflation stays sticky for longer, they will hold for longer (importantly, he didn’t say they would hike).
In any case, the early US dollar selling was slowly faded and we’re winding down the day exactly where it began. Monday is also a holiday in parts of the world (Europe in particular) so we might not be back to full throttle in markets. Watch Asia though with the BOJ’s Tankan and China’s manufacturing PMI.
Have a happy Easter.
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Goldman Sachs: Anticipated Fed and ECB policy trajectories through 2025
381355 March 30, 2024 01:49 Forexlive Latest News Market News
Goldman Sachs outlines its projections for the monetary policy paths of both the Federal Reserve and the European Central Bank (ECB) over the coming years. The firm expects the Fed to initiate a series of rate cuts starting in June 2024, eventually reaching a terminal rate range of 3.25-3.5%. In contrast, the ECB is forecasted to begin cutting rates in June 2024, with a series of reductions leading to a policy rate of 2.25%.
Key Points:
Conclusion:
Goldman Sachs provides a detailed forecast for the future actions of the Fed and ECB, suggesting a cautious approach towards easing monetary policy. While both central banks are projected to start cutting rates in June 2024, the pace and extent of these cuts differ, reflecting divergent economic conditions and policy considerations. This analysis offers valuable insights for market participants navigating the evolving interest rate environment.
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