Can AXS Crypto Rise From Support Or Fall?

The Axie infinity crypto surged greatly from $4 to $11 earlier and showed wonderful performance by the last week of December 2023.

However, the AXS crypto demonstrated a sign of decline from the start of the year 2024 and the price sank from a vital supply level of around $11 on the chart.

The Axie infinity crypto is almost at a big fall, as it meets the resistance level and it dives to make lows and currently, the sellers are constantly trying to destroy the current support zone and buyers are barely holding the level.

The AXS crypto asset is displaying strong bearishness and falling tendency as it has plunged below the dynamic support of major trend 20, and 50-Day EMA bands, reliant on the sellers’ surge, could fall drastically.

Moreover, the Axie infinity asset is displaying bearish characteristics as MACD exhibits a bullish cross and below the zero line. Besides, MACD is at -0.25, the signal line is at -0.23, and the histogram is at -0.002. The histogram implies that the momentum is coming on the downside and soon the gap could start to broaden and the price could fall with it.

The RSI is falling smoothly, implying that the AXS crypto asset is losing momentum and can achieve new depths as it has taken rejection already from the 14-Day SMA. Meanwhile, the RSI curve is at 40 and the 14-Day SMA curve is at 42.

On overall analysis and past price action, the AXS asset is expressing bearish behavior and shows multiple gestures highlighting that it has the opportunity to fall further. Furthermore, it has attained bad performance in the last week, and last month by 6.23%, and 7.36% respectively, implying a stable downward direction.

At the press time, the AXS crypto is experiencing a fall of 1.1% in the last 24 hours, trading at $6.87, and price movement is showing that sellers are dominant and have not shown the failure of sellers yet, and this shows the possibilities to fall more.

Therefore, if the crypto price fails to stay above the $6.50 level, it could plummet further and reach lower depths.

However, if the demand for the AXS elevates and surges with momentum, the asset price could show spikes from the current support level. The next goal for the price could be to reach $11 and in the meantime, the in-between resistance would be $8.07.

Summary

The price movement shows that sellers are dominant and have not shown the failure of sellers yet, and this shows the possibility of falling more.

The Axie infinity crypto is almost at a big fall, as it meets the resistance level and it dives to make lows and currently, the sellers are constantly trying to destroy the current support zone and buyers are barely holding the level.

The AXS crypto asset is displaying strong bearishness and falling tendency as it has plunged below the dynamic support of major trend 20, and 50-Day EMA bands.

Therefore, if the crypto price fails to stay above the $6.50 level, it could plummet further and reach lower depths.

Technical Levels

Support Levels: $6.50

Resistance Levels: $8.07

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.