24 September 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,054,545,409,299. The total trading volume stands at $14,746,996,787. Bitcoin shares 49.16 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $26,589.42 level after an upward movement of 0.06%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.18 percent reaching to $1,595.28 during the previous 24 hours.
While publishing this blog, BNB traded at $210.66, following a price change of -0.03%within the same time frame. XRP the native coin of XRP is down by 0 and currently trading at $0.51. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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.
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|
The daily chart of Axie Infinity shows that the AXS price has surged up with a 2.6% increase in past 24 hours. The price value of the Axie Infinity (AXS) coin is standing at $4.54 with market capitalization $642,115,147.00 USD. AXS price changes -0.81% over the week while the trading volume is hovering around $62,523,423.00 USD.
AXS price analysis for 24 September 2023 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.
|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.
From the technical analysis, the overall trend of the Axie Infinity is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if AXS manages to stay above $10.21, it can provide an excellent long opportunity for AXS communnity.