Connect with us

Axie

Axie Infinity Price Analysis: AXS swiftly continues setting new all-time highs above $150

Published

on

  • Axie Infinity price analysis is bullish today.
  • AXS/USD gained another 40 percent.
  • Bulls still hold momentum.

Axie Infinity price analysis is bullish today as a strong advance has been seen over the last 24 hours, and there are no signs of bearish pressure returning for now. Therefore, we expect AXS/USD to continue higher over the next 24 hours.

Axie Infinity Price Analysis: AXS swiftly continues setting new all-time highs above $150 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the red over the last 24 hours. The market leader, Bitcoin, lost 1.13 percent, while Ethereum lost 3.31 percent. Axie Infinity (AXS) is the best performer, with a gain of almost 40 percent.

Axie Infinity price movement in the last 24 hours: Axie Infinity breached $150

AXS/USD traded in a range of $107.05 – $155.08, indicating strong volatility over the last 24 hours. Trading volume has spiked by 201 percent and totals $4.75 billion, while the total market cap has increased to $9.15 billion, ranking the coin in 20th place overall.

AXS/USD 4-hour chart: AXS set to continue higher?

On the 4-hour chart, we can see the Axie Infinity price continuing to push higher as the market lacks selling pressure.

Axie Infinity Price Analysis: AXS continues setting new all-time highs above $150
AXS/USD 4-hour chart. Source: TradingView

Axie Infinity price action has seen bullish momentum return over the past weeks. After a strong drop on the 20th of September, support was found at the $50 mark. From there, AXS/USD saw a strong reversal over the following week.

Initially, the market rallied back to the previous resistance around $70, with a slight retracement setting a higher low on the 26th of September. However, bulls quickly regained control, sending AXS to the $80 mark by the end of September.

Advertisement

Axie Infinity price spiked higher on Friday, resulting in a new all-time high set at $120 on Saturday. After a brief consolidation, the bullish momentum resumed yesterday, with the $150 mark reached over the past hours.

Axie Infinity Price Analysis: Conclusion 

Axie Infinity price analysis is bullish for the next 24 hours as bulls still remain in control after the market breached $150. Therefore, we expect AXS/USD to continue higher and set further all-time highs.

While waiting for Axie Infinity to move further, read our guides on Mycelium Wallet, Next Cryptocurrency to Explode in 2021, as well as our BitMEX review.

Advertisement

News Source

Axie

Axie infinity price analysis: Bulls on the march to attempt a record high as price inflates to $136

Published

on

  • Axie infinity price analysis is strongly bullish today.
  • The nearest resistance is found at $138.
  • Cryptocurrency is supported at $126.

The Axie Infinity price analysis reveals the AXS/USD is highly bullish today as it receives exceptional positive sentiment from the market. The bulls are on the march towards attempting a new record high as the price has already reached $136, and the all-time high happens to be at $138, which is the nearest resistance level for the crypto pair. The price movement was slow at the start of today’s session but has got momentum during the last five hours, as it shot up quite fast.

AXS/USD 1-day price chart: Bulls aiming for a new record high

The 1-day price chart for Axie Infinity price analysis shows price has increased significantly as bulls covered a range from $121 to $136 today, and the pair is trading hands at $136.78 to be exact at the time of writing. AXS/USD gained more than 15 percent value over the last 24 hours and about 10 percent value if observed over the course of the last seven days. But the trading volume has decreased by more than 17 percent over the last 24 hours.

The volatility is still high for AXS/USD as the upper Bollinger band is at the $160.9 mark, and the lower band is at the $53 mark. The upper band represents the resistance for the coin, whereas the average of the Bollinger bands at $107 represents the support. The breakout of the indicator seems to be upwards, which shows good prospects for the price in the coming days.

The relative strength index (RSI) has reached the overbought limit as it is present at index 71, just above the borderline of the neutral zone. RSI can any time give a sell signal, but if we look at the previous trend, the RSI has gone as high as 82, so still, a further increase in buying activity is not impossible.

Advertisement

Axie infinity price analysis: Recent developments and further technical indications

The 4-hour Axie Infinity price analysis shows a constant uptrend in the price for the last few hours, with the price covering most of the range in the last hour, when it went up steeply above the resistance of the upper Bollinger band, converting it into a support for the coming hours.

Axie infinity price analysis: Bulls on the march to attempt a record high as price inflates to $136 2
AXS/USD 4-hours price chart. Source: TradingView

The Bollinger bands formed a narrow channel on the 4-hour chart after the flash crash of 7th September, when price oscillation was minimal for a long period, but today again, the Bollinger bands started diverging, indicating an increase in volatility at a fast pace. The upper band at $130 now represents support for the coin price. The RSI is at the borderline of the overbought zone but still in the neutral zone at index 69, indicating increasing buying activity in the market.

Overall, 17 technical indications support the bullish trend, including the moving averages (MA) and exponential moving average (EMA) of 10 days up to MA and EMA of 200 days. None of the technical indicators support the selling of AXS assets; however, nine technical indications stand neutral and don’t show support for any side.

Axie infinity price analysis: conclusion

The Axie Infinity price analysis suggests as most of the technical indications are also in favor of the buying decisions for AXS/USD, but selling pressure can kick in any time as the price has almost reached near the last ATH of $38 and could not sustain the position for more than a day previously. To understand there will be quite significant selling pressure at this point does not require a mind of a rocket scientist. As the price is already at the $36 level, the coming hours will decide if AXS can achieve a new record high or bulls go home with acceptable profits.

Advertisement

News Source

Continue Reading

Axie

Axie Infinity Player Base Reaches 2 Million While AXS Price is on an upswing!

Published

on

The popular play-to-earn blockchain game Axie Infinity has reached a new all-time high. The Axie Infinity price analysis is optimistic today, as a significant retreat from the $155 all-time high was recorded over the last 24 hours. 

At the end of September, the Axie Infinity price broke above the previous consolidation, resulting in a rapid rise upward on October 1st, with $120 as the initial high. Following that, a minor retracement was followed by a push to $150. 

A steady retreat has been seen since the $150 barrier was hit on Monday, with the $120 prior major swing high retested as support. At the time of writing its trading at $129.08.

Advertisement

The Axie Infinity team made a historic staking statement on September 30th. They offered intraday staking and a 300 percent annual percentage rate. At the time of this announcement, the $AXS price was trading about $73, and four days later, the $AXS price had increased 200 percent, with an ATH of $155.

Axie Infinity, on the other hand, has built a dashboard and native staking pool to make it simple to stake $AXS tokens. You can claim $AXS staking rewards every day, and you can opt to re-stake them.

Advertisement

Axie Infinity secures $152 million!

Sky Mavis, the studio behind the popular non-fungible token (NFT) game Axie Infinity, has announced a new round of funding. 

Sky Mavis announced the completion of a $152 million Series B fundraising round in a statement released on Tuesday. 

These monies will be used to support the growth and development of Axie Infinity, as well as Ronin, the game’s Ethereum sidechain, according to the statement. As a result, the company intends to provide gamers more economic and financial flexibility.

Advertisement

The Axie Infinity ecosystem has grown fast in recent months, as evidenced by the amount of players that have signed up so far. The game’s player base has grown from 38,000 daily active gamers in April of this year to over two million, according to Sky Mavis.

News Source

Advertisement
Continue Reading

Axie

Axie Infinity to Raise $150M in Funding Round Led by Andreessen Horowitz

Published

on

Andreessen Horowitz plans to invest in Axie Infinity after placing the NFT-based play-to-earn online game at a $3 billion valuation.

Popular NFT-based play-to-earn online game, Axie Infinity, will be raising approximately $150 million in a Series B funding round at a nearly $3 billion valuation.

Andreessen Horowitz to Invest in Axie Infinity

According to a recent report, which cited two unidentified sources “with direct knowledge of the deal,” the funding round will be led by popular American venture capital firm Andreessen Horowitz.

Advertisement

Axie Infinity is a monster-battling game that uses NFTs to reward its players, and this new deal follows a major boom in sales on the platform. The blockchain-enabled game has garnered a lot of attention in recent months, with the Axie Infinity Shards (AXS) token hitting highs after highs.

As per the report, Axie Infinity is well on its way to generating approximately $1 billion in revenue from in-game transactions by the end of the year, with the developer, Sky Mavis, keeping 17% of that amount.

Saving the Pandemic Jobless

Launched in 2018, Axie Infinity has gradually gained a lot of popularity among gamers. It shot into the limelight as NFTs and play-to-earn games became hot sectors of the cryptocurrency industry.

Advertisement

It is especially popular in the Philippines, Venezuela, Brazil, and Vietnam, where thousands of households were saved from the massive unemployment that was experienced during the pandemic.

Axie Infinity became so prominent in the Philippines that many people had to quit their day jobs to focus on gaming full-time, prompting the country’s government to hint that it will soon start taxing Axie players.

AXS Records Holders ATH

In September alone, the game raised about 64,934 ETH worth approximately $221 million in revenue. However, last month’s figure is lower than the $342 million recorded in August since its players are starting to see fewer daily earnings.

Advertisement

Despite being relatively lower than previous months, Axie Infinity’s revenue for September represents significant year-over-year growth. CryptoPotato also reported that the native token – AXS – recorded an impressive performance last month, with the number of active holders reaching a new all-time high.

Axie Infinity’s Series B round will mark Andreessen Horowitz’s latest investment in the crypto and NFT space after backing the largest NFT marketplace, OpenSea, earlier in July.

Meaning, in another development, Axie Infinity’s AXS token gained over 40% on Monday, four days after the play-to-earn game announced that it will distribute $60 million worth of AXS tokens among its early adopters.

Advertisement
Continue Reading