Will AXS Price reach $8 in Aug?

Axie Infinity price prediction is bullish till it holds $5.00 support. It suggests a sharp rise might be visible before the month ends.

AXS price is still stuck in a narrow range between $4.60 to $7.00. Buyers look reluctant to build fresh long positions until prices break the higher range.

Previously, bulls tried multiple times to break the $7.00 hurdle but got rejected. It shows the presence of strong sellers in the supply zone.

Axie Infinity crypto price formed a strong base near $5.00. So, the short-term correction is limited to $5.00 only. However, if the overall crypto market turns highly bearish then $5.00 support will be at risk.

AXS price is trading below the 200-day EMA showcasing downtrend. But if any how buyers managed to hold the price above the 50-day EMA then the short-term trend might favor bulls.

Axie Infinity’s price is trading at $5.78 with an intraday decline of 1.20%. The 24-hour volume to market cap is 4.48%. The pair of AXS/BTC is trading at 0.0001966 with an intraday decline of -1.16%.

Will Axie Infinity Price perform in August?

Axie Infinity price prediction favors the bulls and suggests a relief rally may arrive in the coming few weeks. The price is near the long-term demand zone due to that the probability of upside range breakout is high.

AXS crypto might perform well in August but the price will gain momentum only after $7.00 breakout. Moreover, if the BTC price begins to recover from $29K then it might improve the market sentiment.

The technical analysis suggests AXS price is at attractive levels and buyers might come forward to push the price higher.

AXS Price Formed Doji on a Weekly Time Frame

AXS price formed a Doji candle in the previous week. It indicates indecisiveness and lack of direction. However, the prices look oversold so a relief rally may trigger anytime.

Axie Infinity price sustains above the buy line of supertrend which indicates mild bullish. The MACD curve sloping sideways denotes prices might continue to consolidate for some more time. Whereas, the RSI 42 denotes a lack of strength.

Conclusion

Axie Infinity price prediction suggests a rise in the long run. Presently, prices are stuck in a narrow range and buyers are trying their best to expand upward.

If AXS price succeeds to climb above the 50-day EMA then the relief rally may trigger. Also, the prices might begin the journey to reach $8.00.

Technical levels

Resistance levels: $6.91 and $7.50
Support levels: $4.59 and $4.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.