Axie infinity price analysis shows that the market is currently in a bullish trend. The cryptocurrency has been on an upward trend for the past few days and is currently trading at $24.81. The resistance for AXS is present at the $27.82 level, and support for the cryptocurrency is at $19.68.
The market is expected to continue its upward trend in the near future. investors are advised to buy the cryptocurrency at its current price and hold for the long term. However, if the market turns bearish, investors are advised to take profit at the $27.82 level and exit their positions. Those who are still holding the cryptocurrency are advised to wait for the market to turn around before buying back in.
AXS/USD 1-day price chart: Axie Infinity retests the $19.68 mark as support
On the 1-day chart for AXS/USD, we can see that the cryptocurrency has been on an upward trend for the last 24 hours. The market made a higher high in the 24-hour timeframe at $27.82 and has since retraced to its current price of $24.81. The market is expected to continue its upward trend in the near future as the market cap for Axie infinity continues to increase as it is currently sitting at $1,511,288,134 while the trading volume in the 24-hour timeframe is at $838,001,917.
The EMA ribbons have also given a bullish crossover, and the MACD indicator is about to give a bullish crossover as well. The RSI indicator is currently at 55, which shows that the market is in neither overbought nor oversold conditions and that there is room for further price increases.
Axie infinity price analysis on the 4-hour chart: Bulls stumble to keep control
The 4-hour chart for Axie infinity price analysis indicates the bears have been trying to take control of the market but have so far been unsuccessful. Axie Infinity is currently trading at 24.81 which is a bullish sign. The market is expected to continue its upward trend as the market cap for Axie infinity continues to increase. The coin has already witnessed strong advancement between $19.68 and $24.81, and a breakout of the $27.82 resistance could see it advance to $32 in the near future.
The MACD line blue is moving above the signal line red, indicating that the bulls are in control of the market. The RSI indicator is currently at 60, which shows that the market is on the verge of overbought conditions. The EMA indicator on the 4-hour price chart crossover is a bullish sign.
Axie infinity price analysis conclusion
To sum it up, Axie infinity price analysis shows that the market is in a bullish trend, and the bulls are expected to continue pushing the prices higher in the near future. The next resistance for AXS is at $27.82, and a breakout of this level could see the cryptocurrency advance to $32. Support for AXS is at $19.68, and a breakdown of this level could see the cryptocurrency retrace to $17.
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