Axie Infinity consolidates above $75.63 prepares to test further rise

TL;DR Breakdown

• Axie infinity price is bearish today amid heavy selling action.
• Axie infinity/USD found resistance at $75.63.
• Support is present at $70.43 but looks shaky.

Yesterday’s Axie infinity price analysis traded in mixed reactions, however towards the closure of the daily chart the coin gained bearish momentum. The bearish trend has been going on since yesterday. The sellers are controlling the market, and the selling pressure is high pushing the price of Axie infinity to $71.02 The Bollinger bands are wide in today’s  chart signaling a high volatile market.

The cryptocurrency heat map has seen bearish momentum over the last 24 hours. The crypto market leaders Bitcoin and Ethereum have declined, indicated by the red bars with 0.68% and 1.26% loss. Cardano ADA is among the best performers in the market with a 10.57% gain.

Source: Coin360

Axie Infinity price movement in the last 24 hours: AXS/USD prepares to test resistance

Axie infinity has traded in a range of $75.63-$82.43 indicating a high amount of volatility. The trading volume has increased by 6.30%, adding up to a volume/market cap of $629 million. In the meantime, the total market cap trades are around $4.9 billion, ranking the Axie Infinity at 35th place overall. Axie/Infinity is dominating the market at 0.24% movement in the price.

AXS/USD 4 hour chart: Will Axie Infinity cross $75?

On a 4 hour chart, it’s evident the buyers are controlling the market due to buying pressure on the Axie infinity coin pushing it to $75.025. It is likely to appreciate further above $78.025. Looking at the 4-hour chart we can see AXS/USD is still holding on to the $71.56 support which is slightly higher than yesterday. If the current trend maintains consistency at 81.025 we expect the Axie Infinity/USD to rank high in the coin market cap.

Source: Tradingview

The Relative Strength Index has increased to above 50 level indicating a slightly bullish trend. The indicator has been trending high since the Axie Infinity price rose above$ 75.63.

Axie Infinity price analysis conclusion: Oscillating above $70 

Today Axie infinity price is bullish today as evident from yesterday’s price, signaling an expected rise in its price in the future. However, the price is expected to rise beyond $75 provided the bulls take charge and bring more buying action into the scene.

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