The Axie Infinity price (AXS), has fallen following an unexpected entry of the bears, as shown in the daily chart.
- AXS hovers over both the 20 and 50-day EMA
- The AxieInfinity price fell as investors were shut out by the bears after they went all in on the uptick.
- AXS/BTC has plunged by 1.66%, or at 0.0007748 BTC
If the bears can maintain this momentum, the bulls’ effort to recover will be put in vain. To agitate the bears and win, the token must attract buyers. The bulls also need to work together in order to increase AXS.
To date, the trading volume has dropped which is making the investors anxious and poses a bit of concern, especially for the bulls.
Axie Bearish Stride Short-Lived
The bright side is that crypto experts think this dip in cryptocurrency will last for a short time so it’s best to be prepared to jump in when the green light comes on.
TradingView.com Chart
CoinMarketCap reports that AXS token trading prices are at $18.06, a drop of 4.29%, as of the time of writing. AXS coin volume fell 0.4% to 14 million. While the loss isn’t much, it still harbors the danger of eventually pulling the price further down. AXS’s market cap is at 0.09577.
AXS’ bearish outlook seems about to end as daily price chats revealed multiple EMAs and a successful crossover. MACD on the daily chart also exhibited that the buyer’s line is hovering over the signal line of the seller with a very little gap. The bulls will be able to defy the bearish trend and expect tremendous growth. RSI currently stands at 59.
AXS Profitability Exceeds 23% Loss
The bears have crashed the party after following the AXS upward trend. Axie Infinity and other GameFi projects have been able to thrive in volatile markets, just like any other digital asset.
AXS has dropped as high as 90% since it rose by 40% after hitting a low of $160 in June. Axie Infinity’s ATH was in November at $160, but everything has been just searching for it since that time.
In November 2021, the altcoin reached $160. It has been in a downward trend for the longest time. AXS investors are able to accept the inevitable because they have been raking in profits for the longest time.
With this month’s 40% improvement on gains, AXS investors noted that only 22.29% have experienced losses which is very minimal compared to the profits which are said to spike way above its ATH.
AXS market capital at $1.6 Billion according to the daily chart. Source: TradingView.com| Source: TradingView.com
Featured image taken from BSC News. Chart from TradingView.com