- Axie Infinity price has been trading towards the upper range of the consolidation phase over the daily price chart.
- AXS crypto is trying to recover above 50 EMA after surpassing the 20 EMA, but still falters below 100 and 200-days Daily Moving Average.
- The pair of AXS/BTC is at 0.007599 BTC with an intraday gain of 7.84%.
Axie Infinity price is trying to surge towards the upper price range of the horizontal range-bound area over the daily chart. The token is trading in a strong bullish rally however, bears may put a strike on the bulls movement and they may try to pull the token back towards the lower price range. AXS bulls must accumulate themselves to register the token’s breakout from the horizontal range-bound area. However, the candle pattern is a doji and it signifies a trend reversal over the daily chart.
Axie Infinity price is presently approximated at $16.46 and has gained 5.21% of its market capitalization in the last 24-hour period. Trading volume has increased by 57% in the intraday trading session. This shows that buyers are present and they are trying to push the token towards the upper range for a breakout. Volume to market cap ratio is 0.1839.
AXS coin price must accumulate buyers in order to surge towards the upper range. The doji candle signifies the trend reversal and AXS coin may return towards the lower range and it must attract a significant number of buyers to avoid falling towards the lower range. Meanwhile, volume change can be seen below average and needs to grow for AXS to register its breakout.
What do Technical Indicators suggest about AXS?
AXS coin price must attract a significant number of buyers to let AXS surge towards the upper price range. Meanwhile, AXS investors need to wait for any directional change by looking upon the current doji candle over the daily price chart. Technical indicators suggest the uptrend momentum of AXS coin.
Relative Strength Index showcases the uptrend momentum of AXS coin. RSI is at 58 and is heading towards the overbought territory. MACD exhibits the bullish momentum of the AXS coin. The MACD line is ahead of the signal line after a positive crossover.
Conclusion
Axie Infinity price is trying to surge towards the upper price range of the horizontal range-bound area over the daily chart. The token is trading in a strong bullish rally however, bears may put a strike on the bulls movement and they may try to pull the token back towards the lower price range. AXS bulls must accumulate themselves to register the token’s breakout from the horizontal range-bound area. Volume change can be seen below average and needs to grow for AXS to register its breakout. Meanwhile, AXS investors need to wait for any directional change by looking upon the current doji candle over the daily price chart. Technical indicators suggest the uptrend momentum of AXS coin. The MACD line is ahead of the signal line after a positive crossover.
Technical Levels
Support Levels: $14.45 and $11.30
Resistance Levels: $17.80 and $18.65
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/07/19/axie-infinity-price-analysis-is-it-a-trend-reversal-candle-by-axs/