Axie Infinity (AXS) Analysis: Bulls are carrying AXS higher than ever

• AXS seems like it is continuing its current bullish trend
• The token has taken the lead in the market after a long jump during the start of October
• The current market price of AXS is just 4% low than its all-time high

Axie Infinity has been continuously climbing up the charts since its launch. With a new all-time high price every fortnight, the token is profiting its holders. The current market cap is $9.6 billion, an increase of 3.45% as of now. The trading volume in the last 24-hour period, however, saw a slight reduction of 1%, totalling $998,089,257. The reason is the dips occur before any rise and put its holders into thinking of a possible trend reversal. Till now, AXS has given the return of investment of a whopping 158642.82%. Axie Infinity uses Ethereum blockchain, and Axie Infinity/Ether pair is also getting its value incremented by over 1% during the intraday session. 

The chart with a one-hour time frame shows the rise in the current price. The token is currently trading above the major EMA lines. The bullish momentum here was expected from AXS as its record and patterns from the past resemble the current upward trend. The EMAs are systematically running on top of the other in ascending order. In terms of pattern formation, the formations of internal pullback show the intensity of the dip. This may come in handy for those who look out for short-selling for instant profit because the risk of missing out on the perfect selling window during a pullback is huge, considering that the token is relatively new in the market as well. However, the projection of AXS look positive and can achieve even more heights with the current trend continuation. 

AXS has the potential to become a great buy, says the oscillators

As far as the oscillators are concerned for indicating the buy/sell zone, one can see that the MACD suggests a safe buying zone. The MACD line is above the zero level and signal line, suggesting that one can think of buying the asset. The RSI value is staying neutral and suggests holding or buying AXS. The token may get in the overbought zone, but if someone is investing in the token for the long run, then it won’t be a problem for them. 

Resistance is at $167.663 and the token is expected to cross it soon. The support levels are at $134.479 and $151.039. 

Conclusion- Axie Infinity seems to be profiting its holders and the projection says that this may continue for some more time before any major market reversal, impacting every cryptocurrency. Till then, The token stays in the safe zone and provide a safe haven to its owners. 

Resistance- $167.663

Support- $134.479 and $151.039