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Axie Infinity

Axie Infinity Price Analysis: AXS bulls attempting to set new all-time high above $142, a retracement to follow?

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  • Axie Infinity price analysis is bullish today.
  • AXS/USD continues upside.
  • Support is present at $137.

The Axie Infinity price analysis reveals that AXS is bullish today, as it continues upside after hitting the record high yesterday at $142. Further advancement in price has been observed today as bulls continue their lead. But signs of market pressure are also appearing as bears are striving for a retracement. At times AXS swang as high as $161, even $165 was also observed but the price capped at $142 yesterday.

The broader crypto market is retracing today after going high for the past two days, but AXS/USD is one of the few coins which are still in bullish momentum. The leaders’ Bitcoin and Ethereum are also retracing today, but AXS continues to discover new highs.

AXS/USD 1-day price chart: Can bulls cap the price at a new all-time high

The 1-day price chart for Axie Infinity price analysis shows that the price movement is overall on the upside today as well. The bulls are trying to take the bar higher. The AXS/USD shows a gain in value by 5.5 percent over the last 24 hours. AXS also reports a gain of 14.6 percent over the course of the last seven days. The trading volume is also up by 88.9 percent but may decrease over the coming hours. the market cap of AXS has also improved by 6.2 percent.

Axie Infinity Price Analysis: AXS bulls attempting to set new all-time high above $142, a retracement to follow? 1

The volatility is again increasing for AXS/USD pair as the Bollinger bands have started to diverge again, after going through a narrow channel for the past few days as price fluctuations were small during that time, but as AXS aimed for the record high, the volatility in token started to increase. The price is trading above the upper band, which at $141 represents support for AXS/USD.

The relative strength index is an important indicator for the ongoing buying and selling indications in the market. The RSI is leveling out horizontally, indicating a slow down in buying as bears enter the market.

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Axie infinity price analysis: Recent developments and further technical indications

The 4-hour Axie Infinity price analysis shows the price breakout was downwards today, but then bulls took over and continued their upside endeavor as the price has now reached the $146.4 level at the time of writing, showing good performance. But recently, the price movement has slowed down as the traders are curbing the buying activity.

Axie Infinity Price Analysis: AXS bulls attempting to set new all-time high above $142, a retracement to follow? 2
AXS/USD 4-hours price chart. Source: TradingView

The volatility indicator on the 4-hour chart is showing vast expansion as the upper Bollinger band has now reached the $153 mark indicating resistance for the AXS/USD pair, and the average of the indicator at the $133 level represents the support, as the price continues to trade between the mean average and the upper limit of the indicator. The RSI on the 4-hour chart also confirms the slow down in buying as the movement of RSI is hinting at balanced buying and selling going on, and a breakout in either direction is possible.

Axie infinity price analysis: conclusion

The Axie Infinity price analysis shows bulls are trying for a new record high, but the closure of today’s session will decide if they could cap the price at a further higher level. If selling pressure overwhelms, then bulls will have to live with yesterday’s all-time high, but if bulls succeed in maintaining their momentum, then AXS will discover a new record high today. Even in the case of another record high, expectations are for not more than $146-$147 as bullish exhaustion is clear at this moment in time.

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Axie Infinity

Axie Infinity price recovers from two flash crashes, hints at a 15% breakout

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  • Axie Infinity price looks ready for a quick 15% run-up as its recovery strengthens.
  • The December 6 swing low collected liquidity below the December 4 swing low, which adds credence to the bullish outlook. 
  • A breakdown of the range low at $94.92 will invalidate the bullish thesis.

Axie Infinity price is recovering from its steep downtrend and is showing signs of improvement. Investors can expect AXS to pierce through the trading range’s midpoint and move higher.

Axie Infinity price eyes higher highs

Axie Infinity price has rallied 13% over the past 24 hours and is currently grappling with the December 6 swing high at $108. A swift move above this level is likely, but investors should expect a minor retracement to $103 before the upswing narrative solidifies.

Regardless of the downswing, Axie Infinity price is ready for a 10% upswing to retest the trading range’s midpoint at $118. A decisive close above this level will indicate bulls’ intentions to venture higher. In this situation, AXS could retest the 62% and 70.5% retracement levels at $124 and $128.

This move would constitute a 20% move in total. In case of a massive spike in buying pressure, however, there is a chance Axie Infinity price could retest the 79% retracement level at $132, after a 24% upswing from $106.

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AXS/USDT 4-hour chart

AXS/USDT 4-hour chart

While the conditions are looking highly viable for a move higher, Axie Infinity price needs first to flip the $118 hurdle into a support level. If AXS fails to rise past the December 6 swing high at $108 and proceeds to retest the range low at $94, it will indicate that the buyers are either unwilling or unable to push AXS higher.

A 4-hour candlestick close below this level will create a lower low and invalidate the bullish thesis for Axie Infinity price.

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Axie Infinity price correction to accelerate towards $80

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  • Axie Infinity price hammer lower by 30% so far this week.
  • Near-term support is almost non-existent within the Ichimoku Kinko Hyo system.
  • Thin Volume Profile suggests an acceleration of selling pressure may occur.

Axie Infinity price has certainly not been immune to the massive selling pressure during and after last Saturday’s flash crash. While some sub-sectors of the crypto market may recover, Axie Infinity and other metaverse cryptos have further to fall.

Axie Infinity to price drop another 20% to the $80 value area

Axie Infinity price had experienced a significant sell-off well in line with the broader cryptocurrency market. However, because AXS is part of the metaverse token/crypto bubble, its exposure to further downside risks is exceedingly high. That is especially true given its current position.

The 2021 Volume Profile abruptly ends any hint of support at the $102 price level until the $80 – $82 value area. Because the Volume Profile is so thin between $80 and $102, if Axie Infinity price moves below the $102 to level, that space acts as a vacuum and sucks Axie Infinity lower to the next high volume node at $80.

Sharing the $80 high volume node support zone is the weekly Kijun-Sen. If Axie Infinity price hits the $80 support level, the Relative Strength Index will be positioned near one of the oversold levels in a bull market (50 or 40). Further enhancing the support zone is the Composite Index. The Composite Index has created a new all-time low, warning short-sellers that it will likely bounce if AXS approaches any support structure.

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AXS/USDT Weekly Ichimoku Chart

Any candlestick close above the $110 value area on the daily or weekly chart would invalidate this bearish outlook. A daily or weekly close at $110 would probably begin a consolidation phase before Axie Infinity price begins another run higher.

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Axie Infinity user converts Magic Internet Money to earn over $82,000 a year

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  • Axie Infinity’s “play-to-earn” game opens a frontier to a new gaming economy, turning holders bullish on AXS price. 
  • A former Goldman Sachs research associate claims that converting rewards earned on Axie Infinity to USD could exceed his annual income. 
  • Analysts have predicted that Axie Infinity price could double before the end of the current bull run. 

A player of play-to-earn game Axie Infinity, has confirmed that the game offers higher rewards than a Goldman Sachs’ research associate’s salary. Analysts have a bullish outlook on the gaming token’s price.

Axie Infinity price continues recovery amidst rising popularity 

The play-to-earn blockchain game Axie Infinity has witnessed a rise in active unique users. Considered an indicator of the game’s popularity and AXS demand, the number of active unique users has fueled a bullish narrative for the gaming token. 

Proponents note that the game has opened a new frontier, luring players to the crypto economy. The in-game rewards, in the form of AXS and SLP tokens, can be redeemed for US dollars and other currencies on exchange platforms. Players refer to the rewards as “magic internet money.” 

A former Goldman Sachs’ research associate Sam Peurifoy, (in-game name- “Das Kapitalist”), told Bloomberg News that money earned from converting the “magic internet money” from playing Axie Infinity could  amount to more than his annual income. The average annual income for a Goldman Sachs associate in the US is over $82,904. 

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Axie Infinity price has posted over 4% gains over the past two weeks. The token’s price is recovering from a 12% price drop in the last week of November 2021. 

Guy, a cryptocurrency analyst at the YouTube channel “Coin Bureau,” is bullish on Axie Infinity. The analyst evaluated the AXS price trend and predicted a 2x gain in the gaming token’s price before the end of the ongoing bull run. 

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