Will AXS Break $5 in October?

Axie Infinity price prediction is bullish for the current month as well as for the long term. AXS price is trading near the yearly lows and it looks oversold so a pullback rally is possible.

AXS crypto price is in a downtrend and trading below both the EMAs shows a lack of strength. However, the buyers are trying to break out of the 50-day EMA so if they succeed then the short-term trend might reverse upward.

Axie Infinity price is stuck in a narrow range between $4.00 to $5.00. Buyers tried multiple times to break the higher range and expand upward but prices faced rejection.

However, it has now consolidated for quite a long time so the breakout may come anytime. So, short sellers must remain careful.

In the last few weeks, Axie Infinity crypto witnessed a massive surge in the buying volume and prices also rose upward. However, the buyers’ failure to give the follow-up momentum indicates that speculators are active and the previous up move was a trap.

Axie Infinity price is trading at $4.47 with an intraday decline of -0.89. The 24-hour volume to market cap is 2.82%.

Will Axie Infinity Price Reverse Upward in October?

Axis Infinity price prediction favors the bulls and suggests a rise in the coming months. At present the price is consolidating for the base formation so short sellers must avoid creating fresh short positions.

Till the AXS price sustains above $4.00 the buyers will remain active near the support levels. However, the buyers will gain confidence when they succeed in breaking the $5.20 hurdle and sustaining the higher level.

The technical analysis suggests that the AXS price has consolidated a lot so the possibility of the upward range expansion will remain high.

AXS Price Looks Mildly Bearish On Weekly Timeframe

AXS price fell 6.49% in the current week and looks mildly bearish on a weekly time frame. However, if the crypto leader BTC and ETH prices perform well in the coming months, then AXS crypto will also participate in the rally.

The MACD curve slopes upward and near the zero line. Meanwhile, the histogram bar is also on the rise indicating the strength of the bulls. The RSI at 45 denotes that bulls are gaining momentum and are likely to trade with a bullish bias.

Conclusion

Axie Infinity price prediction is bullish for October as well as for the next few months. AXS price has consolidated a lot near the demand zone so the downside risk looks limited. The analysis suggests that AXS price is bullish and the possibility of a $5.00 breakout is high.

Technical Levels

Resistance levels: $5.20 and $6.00
Support levels: $3.99 and $3.50

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.