- (AXS) managed to print 2.78% within the final 24 hours.
- Earlier on this buying and selling session, the altcoin additionally managed to vary the resistance degree at $6.85.
- Technical indicators indicated that there was robust promoting stress and that the worth of AXS would fall within the subsequent 48 hours.
Based on market monitoring web site CoinMarketCap, Axie Infinity (AXS) has develop into one of many few cryptocurrencies to see a rise in worth over the previous day. At press time, AXS was buying and selling at $6.91 after rising 2.78%.
This confirmed that AXS was nearer to its day by day excessive of $7.13 than its 24-hour excessive of $6.54. The value spike additionally allowed AXS to strengthen its place towards market leaders (BTC) and (ETH) by round 4.62% and 4.53% respectively.
Regardless of this latest worth rally, AXS remained adverse for the week at -4.79%. Nonetheless, the altcoin’s 24-hour buying and selling quantity soared to $88,984,466, up greater than 170% within the final day.
AXS/USDT 4 Hour Chart (Supply: TradingView)
From a technical perspective, the altcoin worth managed to interrupt the $6.85 resistance degree in the present day and switch it into assist. Throughout the identical 4-hour cycle, AXS tried to do the identical with one other resistance degree of $7.11 and managed to succeed in the excessive of $7.20, however closed the 4-hour candle under the mark.
At press time, a bullish flag was set to set off on the AXS 4-hour chart, with the 9 EMA seeking to break above the 20 EMA. Ought to this crossover happen within the subsequent 24 hours, the cryptocurrency worth will doubtless have the momentum wanted to show the aforementioned $7.11 resistance into assist.
Nonetheless, it needs to be famous that the RSI line on the 4-hour chart has been closely tilted in the direction of oversold territory. If the RSI line crosses under the RSI SMA, the worth of AXS could fall under the just lately reversed $6.85 degree by the tip of in the present day’s buying and selling session.
Disclaimer: The views and opinions, in addition to all info shared on this worth evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own threat. Coin Version and its associates is not going to be held answerable for any direct or oblique harm or loss.
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