Axie Infinity price analysis shows that the cryptocurrency is currently trading in an uptrend above the $21.28 level and may continue to do so in the near future. As the price approaches the $23.42 resistance, a breakout above this level could see AXS/USD push higher towards $25. On the other hand, a breakdown below $21.28 could see the price decline to $19.50.
The Axie Infinity market has been on a tear lately as the price surged from $20 to highs of over $22. This came after a period of consolidation in which the price hovered around the $21 region. The current trading volume is at $284,845,740 and the market capitalization is at $1,335,459,612.
AXS/USD 1-day price chart: Axie Infinity retests the $21 mark as support
Axie Infinity price analysis on a 1-day price chart shows that the cryptocurrency is in a bullish momentum as AXS/USD is currently trading at $22.02.The price reached highs above $22, it retested this level as support and is currently trading around $21.90. The MACD shows that the current momentum is bullish and a breakout above $23.42 could see AXS/USD push higher. The RSI is currently at 63 which shows that the price has room to move higher.EMA 10 and EMA 20 are both sloping upwards which shows that the current trend is bullish.
Axie Infinity price analysis: Recent developments and further technical indications
On the 4-hour chart, we can see the Axie Infinity action rejecting further downside overnight as bulls prepare for another strong push higher later this weekAxie infinity price action has seen an increase of over 2% in the past 4-hours of trading as the market pushes higher from the $20.50 level.
The cryptocurrency is currently trading around the $22 region and is well above the 8 and 21 EMA. A further push to the upside could see AXS/USD target the $23 level. The Stochastic RSI indicator is currently at 59 which shows that the market is in overbought territory and a correction could take place. The MACD line is currently above the signal line which shows that the current momentum is bullish.
Axie Infinity price analysis conclusion
Axie Infinity price analysis is bullish today as a strong retracement was seen over the last 24 hours until support was found around the $21.28 mark. Since rejection for further downside was seen around the $23.42support, we can expect AXS/USD to reverse today and start heading towards the next primary price target near the $ 25.50 level in the near future.
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Source: https://www.cryptopolitan.com/axie-infinity-price-analysis-2022-05-23/