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Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. Seeing where the RSI is now, a drop lower toward $7 could be the initial outcome before the upswing gets underway later this year. Proof of that can be found in the Relative Strength Index (RSI) where Axie Infinity price clearly each time goes through a downtrend cycle with a bounce toward an uptrend cycle. The bigger risk to the downside in the near term is that AXS is very cyclical. Quite quickly AXS could be hitting $11.52 where a break above would see a very quick push higher toward $14.05, as seen in February. With the ASEAN Gaming Expo ongoing this Wednesday and later this week, some broad investor inflow could be seen filtering in on the back of that. Since then higher lows have been printed in daily performances, and a clear consolidation is happening as we speak.ĪXS is thus primed to soon test the waters again at that 200-day SMA near $9.55 and $9.91 for the 55-day SMA.
What followed was a long slide lower with its turning point in early May. Axie Infinity price set to stage a Usain Bolt rallyĪxie Infinity has been sliding lower since mid-February after price action nearly peaked at $14.05. A clear consolidation is ongoing with bulls and bears being pushed toward each other and could see a breakout soon that elevates Axie Infinity price toward $14.05. Although this is a severe blow for bulls, the fade still remains limited. Expect a bullish breakout soon that could lead to a major rally by April.Īxie Infinity (AXS) price is still selling off on the back of a bull trap that formed on the back of the breakout above the 200-day Simple Moving Average (SMA).AXS still delivers bullish signs as the fade remains contained.Axie Infinity price is still under pressure as moving averages tripped bulls.
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