- Axie Infinity price analysis is bearish today.
- AXS/USD corrects after all-time high.
- Support is present at $147.
The Axie Infinity price analysis reveals the cryptocurrency has undergone decline today after hitting a record high yesterday. The last week proved highly profitable for the coin as it gained significant value, but today the trend reversed, and bears are defining the price function. The price has covered a downwards range today from $160.7 to $154, which is quite a substantial decline, but still, the price is on the higher side comparatively.
AXS/USD 1-day price chart: AXS price shows a downward tendency
The 1-day Axie Infinity price analysis shows bears are dominating the market today, as bears have managed to take over the price function during the last 24 hours, as the price has undergone reduction today. Although the bulls were able to sustain their lead in the past few days, today’s trend has been in favor of bears. The recent bearish momentum has brought the price down to $153.7 at the time of writing.
As the price after hitting the ATH has receded significantly today, so the volatility for the cryptocurrency is also on the increasing side. The upper Bollinger band is at $161, and the lower band is at $113, making an average of $113. The relative strength index (RSI) has also come down to index 63, indicating high selling activity.
Axie infinity price analysis: Recent developments and further technical indications
The 4-hour Axie Infinity price analysis shows the Cryptocurrency is following a downward track as bears show strength from the past few hours. However, the steepest decline in the price level was observed during the first four hours of today’s session, and thereon the downfall has slowed down almost to the extent of coming to a halt as price oscillation is minimum and bullish presence has also been observed at this level as can be seen the second last candlestick on the 4-hour chart is green.
The volatility is comparatively high, and the Bollinger bands are maintaining the volatility level as the upper band is at $162 and the lower band is at $147. The RSI is maintaining its curve above the centerline of the neutral zone as the price oscillations slow down, and the RSI is present at index 51.
The bulls have been ruling the market during the last month as price propulsion was strong and on an upwards trend showing a visible progression from the start of October. The technical indicators for AXS/USD also indicate bullish signals as a majority of 14 technical indicators are on the bullish side, and only four technical indicators are on the bearish side. However, eight technical indicators are neutral and do not favor any side.
Axie infinity price analysis: conclusion
The Axie Infinity price analysis shows a downturn in AXS/USD price has been observed today, as the bears have reversed the upward trend today. The price has been dragged down to the $153.7 level after the reversal in trends took place. But chances for a further decline are not very strong as bullish support has been seen coming into play. We anticipate the AXS price to maintain above $153 today.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.