Axie Infinity price prediction stays bullish for 2024 and suggests that the bull run has just begun. It showed a steep recovery of approximately 60% from the swing low at $4 and created hope for the investors.
Meanwhile, the volume in the AXS crypto has also rapidly increased which showcases the crypto bulls are getting active.
Moreover, the slow and steady price also followed the upward momentum and succeeded in breaking out of the $5.00 hurdle.
AXS price continued the bullish momentum and managed to climb above the 200-day EMA. It turned the positional trend in the upward direction and showed signs of the next phase of the recovery.
At present, Axie Infinity price is attempting to break out of the $6.76 supply zone. But it rallied a lot, so the price seems to be lacking momentum and entering a consolidation phase.
The 50-day EMA is reversing upward and may positively intersect the 200-day EMA. If the crossover happens, then it will boost the confidence of the long-term investors.
At the time of time of writing, AXS price is trading at $5.98 with an intraday decline of -5.38%. The 24-hour volume to market cap is 10.48%.
Axie Infinity Price Showed Steep Recovery; What’s Next?
Axie Infinity price prediction is highly bullish for the short term as well as for the long term. The price pattern of the chart had turned bullish and buyers looked more aggressive as compared to sellers.
Till the AXS price sustains above the 50-day EMA, the bulls will continue their dominance. Any minor retracement toward the EMA will have a high probability of bouncing back.
Moreover, if the price consolidates in the narrow range, then it will increase the possibility of a $6.76 breakout. The analysis suggests that AXS crypto is getting ready for massive breakout so it’s better to play bullish bets.
What Does AXS Price Display on the Weekly Chart?
AXS price is showing mild bullishness on the weekly time frame chart. It formed a hammer candle near $4.00 and showed an uptick for four consecutive weeks.
On the higher side, $6.76 and $7.50 is the short-term supply zone. If the buyers succeed in taking control over the supply zone, then AXS price may easily double by 2024.
The weekly chart suggests that the correction in this crypto is over and time for an upward reversal is here.
Conclusion
Axie Infinity price prediction favors the bulls and suggests that AXS crypto will perform well in the future.
AXS price is near the crucial resistance and sellers are trying to give rejection. But buyers are more active so the probability of the $6.76 breakout remains high.
Technical Levels
- Resistance levels: $6.76 and $7.50
- Support levels: $5.39 and $4.03
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/11/18/axie-infinity-price-prediction-2024-will-axs-price-get-doubled/