- Axie Infinity Price prediction suggests a rise in the long term till it holds $5.00.
- AXS price fell 15% on previous week and dropped below the 50 day EMA.
- The pair of AXS/BTC is trading at 0.0002814.
Axie Infinity Price rejected the $10.00 hurdle and fell 15% on a previous week. However, the AXS price looks stable as compared to other altcoins and consolidating for the base formation. The price is trading below the 200 and 50 day EMA showcase the trend is in downward direction. But the price is near to the demand zone and downside seems to be limited.
Presently, AXS price is consolidating into the narrow range between $7.00 to $10.00 and likely to break either side soon. Buyers tried multiple times to break the higher range but got rejected. It shows bears are active on higher levels and $10.00 will act as a strong hurdle in the coming months.
Axie Infinity price is trading at $7.97 with an intraday decline of -062%. The 24 hour volume to market cap ratio at 0.0364. The pair of AXS/BTC is trading at 0.0002796 with an intraday decline of -1.1%. At the end of January, AXS price surged 40% on a single day which triggered the positive sentiment.
AXS price failed to give the follow up momentum. Slow and steady, prices began to decline and eroded majority portions of its previous gains. The downfall took halt near $7.00 and prices showed a decent recovery from the demand zone.
Axie Infinity Price formed a long term base
Axie Infinity Price formed a double top pattern and prices struggled to defend neckline support. AXS price has not performed well in the past few months and remains in the bear grip. At the same time overall market sentiment also turned bearish which negatively impacted the prices of the Altcoins.
If the buyers succeed to defend the $7.00 support then the probability of rebound will substantially increase. However, if price drops below $7.00 then bears may try to drag it down toward yearly lows. The technical analysis suggest, Axie Infinity price is stuck in a narrow range and till the price holds $7.00 the possibility of the upward range expansion remains high.
AXS price on weekly time frame
AXS price formed a bearish engulfing pattern on a weekly time frame and bears trying to drag the price below $7.00. However if the overall market sentiment improves then prices might take a U-turn from the lower levels. The technical indicators like MACD had generated a negative crossover and histogram bar is on decline. It indicates bearish momentum might continue for some more time. Whereas, the RSI at 57 sloping sideways denotes prices lacking direction and may trade in a narrow range.
Conclusion
Axie Infinity price prediction is bullish and suggests a rise in the long term. Till AXS price is sustaining above the $7.00 the long term investors are safe and downside seems to be limited. The technical analysis suggests, AXS price is stuck in a narrow range. If buyers defend $7.00 then the probability of upward range expansion is high.
Technical levels
Resistance levels : $10.00 and $13.91
Support levels : $7.00 and $5.82
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.