Today’s Axie Infinity price analysis displays a bearish movement in the market, and the market moves towards a slightly upward direction, raising the price of AXS little by little. After that, however, the cost of AXS experienced a flash crash and declined to $28.9, from $31.1; on May 8, 2022, AXS/USD lost further momentum and obtained a massive decreasing movement the following day.
Today, on May 9, 2022, the price has been experiencing a massive downtrend, causing the price of AXS to remain under the $30 mark. Furthermore, the cryptocurrency shows downside risks and is following a downward trend. AXS currently trades at $29.7 and has been up 3.85% in the last 24-hours, with a trading volume of $496,666,877. AXS currently ranks #45 with a live market cap of $1,779,916,202.
AXS/USD 4-hour analysis: Recent developments
Axie Infinity price analysis revealed the market following an uncertain bullish trend. However, the market volatility decreases, forcing the resistance and the support to move closer, making the cryptocurrency’s price less prone to volatility fluctuations. The market appears to undergo a squeeze. Consequently, the upper limit of the Bollinger’s band is present at $30.9, which acts as the strongest resistance for AXS. Conversely, the lower limit of the Bollinger’s band is available at $27.2, which acts as the strongest support point for AXS.
The AXS/USD price appears to be crossing over the Moving Average curve, making the market bullish. However, the market shows immense reversal opportunities and possibly not in favor of the bulls. As a result, the price follows an upward movement toward the resistance; it might
Axie Infinity price analysis reveals that the Relative Strength Index (RSI) score is 50, making AXS/USD fall in the central neutral region. However, the RSI follows an upward trend indicating a favorable market and dominant buying activities.
Axie Infinity price analysis for 1-day: Market moves upwards
Axie Infinity price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a downward trend, making Axie Infinity’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $49.3, which serves as the strongest resistance for AXS. Conversely, the lower limit of the Bollinger’s band exists at $22.6, which acts as the strongest support for AXS.
The AXS/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to follow an upward activity, showing a constantly increasing market. Finally, the price attempts to cross the moving average, causing a reversal in the market. If that were to happen, the market dynamic could be shifted in the bulls’ favor and prove to be a silver lining.
Axie Infinity price analysis reveals the Relative Strength Index (RSI) score of 34, signifying a devalued cryptocurrency. Furthermore, the RSI falls in the undervalued region. Therefore, following a linear approach signals constant characteristics and represents the selling activity equaling the buying activity, causing the RSI score to remain constant.
Axie Infinity Price Analysis Conclusion
Axie Infinity price analysis reveals the market to have entered a partial bearish movement, showing room for a reversal of Axie Infinity. Furthermore, the bears currently dominate the market and are not likely to maintain it. As a result, the market offers massive room for further increasing activity, stabilizing AXS, and gaining more value. However, since the market is expected to break, we can assume that the bulls will soon take care of the market.
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Source: https://www.cryptopolitan.com/axie-infinity-price-analysis-2022-05-09/