Axie Infinity price analysis is bearish Axie Infinity current price is $62.85Resistance of $67.55 retested as Axie Infinity prepares to break the resistance
Axie Infinity opened the daily market with a bearish trend. However, it has a bullish sensation amid the bearish movement. Axie Infinity’s current price is $62.85.The bears seem to have worn out. However, the selling pressure is so high that we expect the bulls to stumble to recover the market. AXS price is currently selling at lows of $63.94 a decline of 0.38 percent. Despite the bears taking over the AXS price in the last few weeks, bulls are likely to regain the market as an improvement has been recorded in the last 24 hours.
Other cryptocurrencies have registered mixed reactions in the heat map, with some gaining and a greater number registering a bloodbath. Major cryptocurrencies Bitcoin has declined by 0.35 percent and Ethereum has gained by 0.68 percent. SHIB and Solana have performed worst, declining with 3.74 percent and 2.2 percent respectively.
Cryptocurrencies heat map Source: Coin360
The daily chart shows the price action of last week, which saw Axie deteriorate is likely to recover if the current trend continues. Now that prices are back down to around the $63 mark again, there might be a few more days or weeks of consolidation before we see any further significant moves up or down.
Axie Infinity price movement in the last 24-hours: AXS likely to regain a bullish trend
Looking at the 1-day price trend, it is most likely that a bullish trend is being welcomed. Axie Infinity price action in the last 24 hours shows the AXS/USD token has declined with 0.63 percent.$503533983 of its total trading volume within the past 24 hours has gone down by 36.74 percent over the past 24 hours.
AXS/USD 1-day chart Source: TradingView
The current market cap of the Axie Infinity token stands at $32,912,510 842.04. Axie Infinity is currently ranked at 44th position on CoinMarketCap. Also, the moving average line is approaching the price level of $ 57.8, indicating a possible bullish trend. The price has moved significantly upwards in the last 24-hours likely to retrace towards the bullish sentiment.
AXS/USD 4-hour chart analysis: Bears seem to lose ground
Axie Infinity price has been advancing upwards in the last 4 hours. The histograms are large and taller than the red candlesticks indicating a possible bullish takeover despite the bearish atmospheres that have been seen in the last few days. The upper bands in the Bollinger bands are stretching towards the $64.44 mark, indicating the bears’ pressure to counter the bull’s pressure to restore the market.
The Bollinger bands are also narrowing indicating the low market volatility. The Relative Strength Index [RSI] is indicating a downtrend after slipping from the overbought sentiment. It is now residing at index 53.47, a neutral level.
AXS/USD 4-hour chart, source: TradingView
Also, take a look at the RSI, it has been trading below the 50 levels since January 20th, which is a signal that prices may rise soon- or at least, that the market sentiment towards Axie seems to be bullish. The MACD line has crossed the red signal line indicating a bullish retracement expected nearly in the next hours.
Axie Infinity price analysis conclusion
Axie Infinity price analysis is bearish today. However, there are only bullish signals on the 4-hour chart for AXS/USD, meaning that this cryptocurrency may see a further uptrend if it breaks the $67.55 barrier.
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