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Axie Infinity Price Analysis: AXS corrects above $150 after hitting ATH

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  • Axie Infinity price analysis is bearish today.
  • AXS/USD corrects after all-time high.
  • Support is present at $147.

The Axie Infinity price analysis reveals the cryptocurrency has undergone decline today after hitting a record high yesterday. The last week proved highly profitable for the coin as it gained significant value, but today the trend reversed, and bears are defining the price function. The price has covered a downwards range today from $160.7 to $154, which is quite a substantial decline, but still, the price is on the higher side comparatively.

AXS/USD 1-day price chart: AXS price shows a downward tendency

The 1-day Axie Infinity price analysis shows bears are dominating the market today, as bears have managed to take over the price function during the last 24 hours, as the price has undergone reduction today. Although the bulls were able to sustain their lead in the past few days, today’s trend has been in favor of bears. The recent bearish momentum has brought the price down to $153.7 at the time of writing.

Axie Infinity Price Analysis: AXS corrects above $150 after hitting ATH 1

As the price after hitting the ATH has receded significantly today, so the volatility for the cryptocurrency is also on the increasing side. The upper Bollinger band is at $161, and the lower band is at $113, making an average of $113. The relative strength index (RSI) has also come down to index 63, indicating high selling activity.

Axie infinity price analysis: Recent developments and further technical indications

The 4-hour Axie Infinity price analysis shows the Cryptocurrency is following a downward track as bears show strength from the past few hours. However, the steepest decline in the price level was observed during the first four hours of today’s session, and thereon the downfall has slowed down almost to the extent of coming to a halt as price oscillation is minimum and bullish presence has also been observed at this level as can be seen the second last candlestick on the 4-hour chart is green.

Axie Infinity Price Analysis: AXS corrects above $150 after hitting ATH 2
AXS/USD 4-hours price chart. Source: TradingView

The volatility is comparatively high, and the Bollinger bands are maintaining the volatility level as the upper band is at $162 and the lower band is at $147. The RSI is maintaining its curve above the centerline of the neutral zone as the price oscillations slow down, and the RSI is present at index 51.

The bulls have been ruling the market during the last month as price propulsion was strong and on an upwards trend showing a visible progression from the start of October. The technical indicators for AXS/USD also indicate bullish signals as a majority of 14 technical indicators are on the bullish side, and only four technical indicators are on the bearish side. However, eight technical indicators are neutral and do not favor any side.

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Axie infinity price analysis: conclusion

The Axie Infinity price analysis shows a downturn in AXS/USD price has been observed today, as the bears have reversed the upward trend today. The price has been dragged down to the $153.7 level after the reversal in trends took place. But chances for a further decline are not very strong as bullish support has been seen coming into play. We anticipate the AXS price to maintain above $153 today.

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Live about Axie Infinity to give away 10 spots for Coingoback school on Black Friday

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To celebrate Black Friday, Coingoback’s Axie Infinity School will raffle 10 people in the live from today (11/25) at Cointimes Twitch, that starts at nine-thirty at night (9:30 pm).

Axie Infinity is the best known game of the play-to-earn model, and Play is a “school” of Coingoback that opens up opportunities for its users to play for free.

Created to offer cashback to users who usually buy online, Coingoback is a Cointimes platform that now gives you the chance to earn money by playing, just apply to Play and receive your Axie Infinity account.

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Play is a product within Coingoback, but it’s not called a school by accident, there’s a team ready to teach you everything you need to know about the game and how to be efficient at SLP farming.

Every fortnight, players receive their share (30% to 50% of the SLPs earned, depending on their performance) converted to bitcoin in their Coingoback accounts, where they can withdraw to any wallet whenever they like.

There are currently about 200 players earning money with Play. But, as expected, there is a large queue of users who also want to join.

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Therefore, the easiest way to get a seat on Coingoback Play is by watching the lives on Twitch, which usually has a lot raffle. This Thursday (25), the draw is a special Black Friday and ten places will be awarded.

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Axie Infinity’s digital land sells for $2.5 million, boosting AXS price uptrend

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  • Axie Infinity is the most traded NFT collection in Q3 2021, emerging as the second most popular blockchain gaming token. 
  • Digital land plot on Axie Infinity metaverse sold for 550 ETH, a record high in the play-to-earn gaming ecosystem. 
  • Sky Mavis, developers of Axie Infinity, plan to sell 90,000 plots of land to create news games within the ecosystem. 

Axie Infinity is one of the most popular blockchain games among Ethereum whales. AXS token has posted 85% gains over the past 90 days. The game developers plan on nurturing the play-to-earn gaming ecosystem by powering new games on digital plots of land. 

Digital plot of land sells for 550 ETH on Axie Infinity 

Axie Infinity, the play-to-earn game, rewards players with tokens for winning battles and conquests. The blockchain game relies on the addition of new players in the ecosystem for the Axie economy’s growth, therefore analysts question the sustainability of the game. 

Sky Mavis, the Axie Infinity developers, plans to sell 90,000 plots of digital land in the game’s ecosystem. Developers have an opportunity to buy these digital plots and build their blockchain games in the Axie Infinity ecosystem. 

The popular metaverse game recently hit a milestone, selling a digital plot for 500 ETH, or the equivalent of $2.5 million. Axie Infinity has confirmed that this is the highest price for a digital plot of land in the metaverse. 

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Back in February 2021, Axie Infinity sold nine plots of digital land for $1.5 million. 

AXS token has struggled to recover from a nearly 20% drop below its all-time high of $164.90. Eric Krown, a cryptocurrency analyst, is bullish on AXS price and expects a recovery. Krown has set a target of $180 for AXS price. In his recent YouTube video, Krown said:

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Axie Infinity has more or less a bullish setup… A daily closure above $150 or so will imply a target above $180, a little bit higher than that actually.

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Axie Infinity virtual land slot sells out for 550 ETH

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In a tweet posted by Axie Infinity late Thursday, a lucrative land plot within the monster-battle fantasy nonfungible tokens, or NFTs, game sold for 550 ETH ($2.3 million). Axies are creatures that users command to duel other players, battle enemies, and complete daily quests. They are also NFTs can be bred (minted), bought, and sold freely.

The game takes place in the world of Lunacia that Axies inhabit. It is a 301×301 square grid where each section represents a tokeized plot of land called Terra, which players can also buy, sell, or rent out to other players at will. The land that was sold yesterday is classified as Genesis, which is the rarest form of virtual real estate available in the Axie Infinity ecosystem.

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Monsters, known as Chimeras, spawn in the game and terrorize Lunaria. By defeating Chimeras, players earn Smooth Love Potions (SLPs), which can then be sold at cryptocurrency exchanges for cash. Defeated Chimeras also drop other types of resources that can be used to upgrade their Axies and land, thereby increasing earnings potential for SLPs. Genesis Land is located strategically at the center of Lunacia, where rare Chimeras raid bosses spawn and drop special items. In addition, only 220 out of 90,601 land slots have the Genesis classification.

Critics of the game say that there’s nothing physically tangible with virtual real estate and wonder why they would have any value at all. But for some, playing Axie Infinity is a full-time job deserving of upfront investments, especially in developing nations, where the earning SLPs each day in the game can often surpass that of countries’ minimum wages.

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