- The trading volume of the AXS crypto has increased by 30% in the last 24 hours.
- The AXS Price shows bullish traits and has experienced a minor rise of 4.47% in the previous 24 hours.
Axie Infinity crypto price has been bullish and surged by 150% in the last 6 months. The bullish trend was disturbed by the $13 hurdle, and more than 30% selling pressure was witnessed. Recently, the AXS coin price has recorded a 52-week high of $13.50 on March 10, 2024.
In a daily time frame, the Axie Infinity crypto price has been rising by taking support from the trendline. The price has taken support on the trendline and increased by 28% in a week. The price has surpassed the 20-day exponential moving average, showing the buyers’ strength.
The Axie Infinity crypto price is trading at $11.33, up by 4.47% in the last 24 hours. The market capitalization is $1.61 billion, and according to the market cap, it ranks 72nd in the cryptocurrency market. The trading volume of Axie Infinity is $78.34 million, which has increased by 30% in the past 24 hours.
Whale Holdings
The whale holdings have decreased from $254 million to $249 million (approx 2%) in a year, and the price has also declined. The change in the whales’ holdings can show its impact on the price. According to the graph, the whales account for 94.04% of the total, and the retailers and others account for about 5.96%.
Axie Infinity Price vs Volume Analysis
The volume graph shows that the trading volume has dropped from $600 million to $100 million in the last 15 days, and the price has also dropped by 25%. In the previous 5 days, the trading volume has fallen by approximately 40%, but the price has risen by 15%. According to this data, bulls may be trapped, and the price may perform negatively.
AXS Crypto Social Dominance vs Social Volume Analysis
According to the given graph, social dominance and social volume have been falling for the last few months. In January, social dominance and social volume decreased, which had a negative impact on price. Since February, the social dominance and social volume have remained constant, but the price has performed positively. The AXS price may perform according to the change in social dominance and social volume.
Technical Analysis of the Axie Infinity Price Over Daily Timeframe
The Axie Infinity price has been in a bullish trend and rising through an inclining trendline. It has reached a 52-week high, faced resistance from the $13 mark, and melted back to the trendline.
If the AXS price fails to sustain the 20-day EMA and drops, the selling pressure can be generated. If it slips below the trendline, a bearish trend for the short term can be expected.
Suppose the Axie Infinity crypto price sustains over the 20-day EMA, then buyers may lead the trend, and the price may extend to a new 52-week high.
Turning to the technical indicators, Axie Infinity’s price is trading over the significant moving average, which showcases the bullish trend. RSI is 58 and generated a bullish crossover between the RSI and RSI-based moving average. Overall, the technical indicators are favoring bullish momentum.
Axie Infinity Price Prediction on 4-H Timeframe
In a 4-H time frame, the AXS crypto price has been in a bullish trend for the last 5 days and is heading toward the last swing high. If the price triggers a pullback and rises, it may easily reach the $13 huddle in a few days.
On the other hand, suppose the Axie Infinity falls and slips below the 20-day exponential moving average; sellers dominate, which may lead to erasing the previous gains.
Conclusion
In a broader time frame, the Axie Infinity crypto price has been in a bullish trend and reached a 52-week high. The price has faced resistance from the $13 mark and declined by 30% in a few days. The price has taken support on the trendline and witnessed buying pressure, but trading volume has decreased. Buyers should keep an eye on the volume before investing.
Technical Levels
Resistance: $13.00 & $15.00
Support: $9.20 & $7.50
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.