Axie Infinity Price Analysis: Will AXS again Showcase its Potential?


  • Axie Infinity gain bullish momentum over the past week gaining 20.15%.
  • The price of Axie Infinity has fallen by -7.73% in the previous 24 hours.
  • In terms of AXS support floor, it is now $10.21.
  • AXS has its next resistance at $11.87.

08 December 2022 : In this article we will walk you through Axie Infinity price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Axie Infinity, Is AXS a good investment? Axie Infinity support & resistance levels etc. But before diving deep into the AXS technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $841,563,948,503. The total trading volume stands at $37,018,782,134. Bitcoin shares 38.53 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,865.09 level after a decline of -1.3%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.89 percent reaching to $1,232.84 during the previous 24 hours.
While publishing this blog, BNB traded at $284.05, following a price change of -2.09%within the same time frame. XRP the native coin of XRP is down by -1.87 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -4.39% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Axie Infinity Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Axie Infinity (AXS)

AXS Resistance Levels AXS Support Levels
Resistance Level 1 $11.87 Support Level 1 $10.21
Resistance Level 2 $12.64 Support Level 2 $9.32
Resistance Level 3 $13.53 Support Level 3 $8.55

Axie Infinity Performance

The daily chart of Axie Infinity shows that the AXS price has a downward movement with a -7.73% decrease in past 24 hours. The price value of the Axie Infinity (AXS) coin is standing at $8.34 with market capitalization $839,013,060.00 USD. AXS price changes 20.15% over the week while the trading volume is hovering around $258,505,414.00 USD.

Axie Infinity Price Analysis

AXS price analysis for 08 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Axie Infinity.

Moving Averages Price Indicator
Simple Moving Average (10) 11.37 Sell
Exponential Moving Average (10) 11.34 Sell
Simple Moving Average (20) 11.98 Sell
Exponential Moving Average (20) 11.91 Sell
Simple Moving Average (50) 12.80 Sell
Exponential Moving Average (50) 12.74 Sell

The Axie Infinity has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take AXS price below the crucial support level of $10.21. The MACD line is standing below of the signal line after a crossover. Axie Infinity investors need to wait for any directional change over the daily chart. RSI implying oversold phase while trading at 19 and is trying to break out of the bearish zone while highlighting massive bearish strength. While AXS’s Williams %R indicator is at -61.794 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

According to the Axie Infinity (AXS) price analysis, the bears have failed to take the market downwards, and as a result, we are likely to see the continuation of the bullish trend in the coming days.