Axie Infinity (AXS) Rallies By 23%; Are The Bulls Taking Over From Here?

  •  AXS’s price needs to rally high as the price continues to stall in its price movement despite the market looking green across boards. 
  •  AXS’s price continues to trend below key support as the price tries to build more strength to overcome this area of resistance that has held the price from rallying. 
  • AXS’s price remains indecisive on the daily timeframes as the price trades below the 50 and 200 Exponential Moving Averages (EMA).

AxieInfinity (AXS), a crypto-coin, is not able to rally as quickly as some other altcoins. As the price continues to stagnate, there is little prospect of an uptrend to $20. There has been some relief in the crypto market, but Bitcoin (BTC), which is leading the charge, rallied and dragging it down, saw the most action. Axie infinity (AXS), which has been relatively slow over the past few days due to a lack of buy orders, is due to resistance from breaking higher. (Data from Binance).

Axie Infinity’s (AXS), Price Analysis on The Weekly Chart

Many altcoins continue to show over 200% growth over the last 7 days after breaking out from their range bound movement. This is a sign that many people believe there’s more hope in the crypto space.

The week started with skepticism, but it is now looking more positive for certain altcoins like BAND. BAND rallied above 100% in 24 hours. This shows the strength of price and volume buy orders. APE’s price has been stable as it looks to rally.

AXS’s price dropped to $170 from the high it reached in March, due to so much excitement for AXS. AXS is currently at over 80% of its highest level, and AXS prices have struggled recently to rebound from the $6 weekly low. 

AXS’s price traded at $6 per week. The price quickly rebounded and was trading within a range of $10 to $10.

Weekly resistance for the price of AXS – $12.

Weekly support for the price of AXS – $6.

An Analysis of the Daily AXS Price (1D) Chart

Daily AXS price chart | Source: AXSUSDT On

AXS’s daily performance is strong and could continue to rise in the near-term.

The price of APE trades at $10.5, just below the 50 EMA, which indicates a good relief sign for AXS’s price on the daily timeframe could be poised for a major breakout if prices close above $12 after facing rejection to trend higher. 

Daily resistance for the AXS price – $12.

Daily support for the AXS price – $8.5.

Featured image from zipmex. Charts From Tradingview 

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