Axie Infinity price analysis shows the presence of a bullish trend in the market. The cryptocurrency has witnessed a slight price increase of 1.23% over the past 24 hours and is currently trading at $20.39. The market capitalization of AXS stands at $1,240,121,584, with a 24-hour trading volume of $155,417,627. Support and resistance levels have been drawn at $19.94 and $21.50, respectively. The bulls will look to take advantage of the current market conditions and push the price of AXS up to the $21.50 resistance level. The bears will look to take advantage of any weakness and push the price down to the support level of $19.94.
The market is expected to continue its upward trend in the near future. investors are advised to buy the cryptocurrency at its current price and hold for the long term. However, if the market turns bearish, investors are advised to take profit at the $21.50 level and exit their positions. Those who are still holding the cryptocurrency are advised to wait for the market to turn around before buying back in.
AXS/USD 1-day price chart: Axie Infinity retests the $19.94 mark as support
The one-day Axie Infinity price analysis shows that the cryptocurrency has retested the $19.94 support level and is currently trading above it. The bulls have been able to take control of the market and are currently pushing the price up. The price received sufficient momentum during the day and was able to close above the $20.00 mark.
The Relative Strength Index is currently trading in the overbought region but is slowly heading towards the neutral zone. The MACD indicator is currently in the bullish zone and is indicating a possible price increase in the near future. The EMA 50 and EMA 200 are both trending upwards and are indicating a bullish market.
Axie infinity price analysis on the 4-hour chart: Bulls stumble to keep control
The four-hour Axie Infinity analysis shows that the bulls have been losing momentum over the past few hours. The cryptocurrency has retraced from its all-time high of $21.50 and is currently trading at $20.39.
The Relative Strength Index is currently moving above the 60 levels and is indicating a bullish market. The Moving Average Convergence Divergence is currently in the bullish zone but is losing momentum. The EMA 50 and EMA 200 are above the price and are indicating a bullish trend.
Axie infinity price analysis conclusion
To conclude, Axie price analysis shows that the market is in a bullish trend, and the bulls are expected to continue pushing the prices higher in the near future. The next resistance for AXS is at $21.50, and a breakout of this level could see the cryptocurrency advance to $22.00. Axie. Support for AXS is at $19.94, and a breakdown of this level could see the cryptocurrency retrace to $19.50. Investors are advised to buy the cryptocurrency at its current price and hold it for the long term.
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Source: https://www.cryptopolitan.com/axie-infinity-price-analysis-2022-06-03/