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Axie Infinity Price Analysis: AXS continues to consolidate around $70, set to slowly retrace today?

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Axie Infinity price analysis indicates bearish momentum to follow later today as another lower high was set earlier today after a consolidation yesterday. Therefore, we expect AXS/USD to reverse and retest the $68 support again later today.

Axie Infinity Price Analysis: AXS continues to consolidate around $70, set to slowly retrace today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the green over the last 24 hours, with Bitcoin increasing by 1.06 percent. Ethereum has gained 2.27 percent, while Solana (SOL) is among the best performers, with a gain of 21 percent.

Axie Infinity price movement in the last 24 hours: Axie Infinity moves above the $70 mark again

AXS/USD traded in a range of $68.05 – $72.59, indicating strong volatility over the last 24 hours. Trading volume has decreased by 18.88 percent and totals $594 billion. Meanwhile, the total market cap trades around $4.36 billion, ranking the coin in 33rd place overall.

AXS/USD 4-hour chart: AXS set to move lower?

On the 4-hour chart, we can see a brief rally for Axie Infinity price, which should lead towards another test of the $68 support later today.

Axie Infinity Price Analysis: AXS continues to consolidate, another move lower today?
AXS/USD 4-hour chart. Source: TradingView

Axie Infinity price action has seen a substantial increase over the past weeks. After rallying more than 250 percent in July, AXS/USD moved sideways during the first week of August.

However, on the 10th of August, another strong move to the upside was seen, resulting in a further gain of more than 80 percent to the current high of $80. Since then, AXS has moved sideways around the $70 mark, failing to reach further highs seen last weekend.

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This week, Axie Infinity price action declined to the $68 mark, where local support was formed. After consolidating above the support yesterday, AXS/USD saw a slight move higher over the past hours. However, as no substantial rally followed, we expect AXS to return to the $68 support later today.

Axie Infinity Price Analysis: Conclusion 

Axie Infinity price analysis is bearish today as the market price continues trading in a consolidation range, with a slight rally seen earlier today. Therefore, we expect AXS/USD to retrace later today and look to retest the $68 mark again. 

While waiting for Axie Infinity to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Axie

Axie Infinity Price Analysis: AXS tests previous swing high at $68, rally on the way

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Axie Infinity price analysis is bullish today as the market saw a strong advance over the past 24 hours and has approached the previous swing high at $65. As long as AXS/USD can keep up its momentum, we expect further upside later today and a new higher high.

Trading in the overall market was largely unfavorable for the last 24 hours. Bitcoin dropped 0.78 percent, whereas Ethereum lost 3.20 percent. Avalanche is currently the greatest beneficiary, with a rise of more than 10%.

Axie Infinity price movement in the last 24 hours: Axie Infinity retests previous swing high

For today’s daily Axie Infinity price analysis, XRP/USD stayed inside a range of $66.51 to $68.10, with low volatility throughout the last 24 hours. The total trading volume has dropped by 26.54 percent to $238.13 million and the overall market capitalization fluctuates around $4.08 billion, placing it at position 42 overall.

AXS/USD 4-hour chart: AXS set to break $68?

On the 4-hour chart, we can see the Axie Infinity price action attempting to break the $65 previous swing high.

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Axie Infinity Price Analysis: AXS tests previous swing high at $68, rally on the way 1
AXS/USD 4-hour chart. Source: TradingView

The price of Axie Infinity has been in a strong upswing lately, with bullish momentum resuming over the last week. On September 7th, after a drop of more than 30%, a new low was established at $33.

The price of the NFT token has been experiencing a strong upward momentum since the NFT craze begun, as it rose from roughly $4.20 to over $90. However, after trading at a height of around $75 for a few days in Sept, the cryptocurrency took a downward correction and quickly broke below the $70 support leel.

A higher low was established there with a several-day consolidation. Late Yesterday, the Axie Infinity price started trading higher again, resulting in the previous swing high of $68 over the past hours.

Axie Infinity Price Analysis: Conclusion 

The price analysis of the Axie Infinity market is favorable today, as the market has made a big leap today towards the $68 mark after struggling with bears at $65. As a result, if AXS/USD can keep up the momentum, we anticipate further gains during the day and a strong higher high being established next.

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While you wait for Axie Infinity to develop further, check out our posts on Wrapped Bitcoin, Decentralized Exchanges, and the NFTs.

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Axie Infinity Price Prediction: AXS coils up for 13% gains

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  • Axie Infinity price is coiling up inside an ascending parallel channel, suggesting an impulsive move on the horizon.
  • A decisive close above $70.60 will confirm the breakout and propel AXS to $80.23.
  • If the $61.10 support floor is shattered, it will invalidate the bullish thesis.

Axie Infinity price is coiling up inside a pattern and hints at a breakout to the upside. A convincing close above a crucial barrier is likely to trigger the start of a short-term rally.

Axie Infinity price contemplates a move higher

Axie Infinity price set up two swing lows and three swing highs since September 7. Connecting these swing points using trend lines shows the formation of an ascending triangle pattern. This technical formation forecasts a 13% upswing to $80.23, obtained by adding the distance between the first swing high and low to the breakout point at $70.60. 

Therefore, it is imperative that the bulls flip this resistance barrier into a support floor to have any chance at a quick run-up.

From its current position, this climb would represent a 20% ascent. Although $80.23 is a stiff supply barrier, an increased buying pressure here could allow AXS to slice through it and tag the $85.15 swing high.

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AXS/USDT 4-hour chart

AXS/USDT 4-hour chart

On the contrary, if the buyers fail to push Axie Infinity price to slice through the $70.60 resistance level, it will indicate weak bullish momentum coupled with strong selling pressure. Such a combination could prove to be fatal if it pushes AXS in the opposite direction.

If the resulting downswing produces a decisive 4-hour candlestick close below $61.13, it will create a lower low and invalidate the optimistic narrative detailed above.

In that case, Axie Infinity price could explore the lower target at $57.92 or the September 7 swing low at $56.45.

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Axie Infinity Price Analysis: AXS Token struggles to break it’s All-time-high of $80 mark

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AXS/USD on Tradingview

In just one month, the AXS token has shown remarkable growth in its price, which has grabbed the attention of many crypto investors. Anyhow, this bullish rally also displayed an interesting pattern in its chart. As the price enters into a consolidation mood right before giving a solid directional move. Thus for almost three weeks, the price has been consolidating below the ATH of $80, preparing another excellent opportunity for its traders, 

According to the EMA’s, the AXS token shows a strong bullish tendency as the price is trading above the critical EMA’S 20, 50 100, and 200. In addition, the chart also shows that the price is receiving strong dynamic support from the 20 EMA.

The RSI (BULLISH) value is at 61, indicating a bullish emotion in the token. However, the RSI shows a strong bearish divergence concerning the price action, suggesting weakness in this bullish momentum.

The AXS Token Price Resonating In Ascending Triangle

AXS/USD on Tradingview

The AXS token shows the formation of an ascending triangle in the 4hr time frame. The crucial level(neckline) for this pattern is the $80 mark. This neckline level is also the ATH of AXS token and will provide an excellent long opportunity for AXS traders if the price gives a decisive breakout from this level.

The moving average convergence/divergence indicator (BULLISH) respecting the coin’s price action indicates an unclear trend by wavering around the neutral zone with multiple crossovers.

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Conclusion: From the technical view, the AXS token’s overall trend is strongly bullish. As mentioned, the token price forms an ascending triangle which presents another opportunity for traders. However, the strong bearish divergence in the RSI line cannot be ignored, and thus, the AXS traders should wait for a clear breakout before entering the Crypto market.

Support– $68, $62.8

Resistance– $80

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