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Axie Infinity Price Analysis: AXS bulls attempting to set new all-time high above $142, a retracement to follow?

Axie Infinity Price Analysis AXS bulls attempting to set new all time high above a retracement to follow

TL;DR Breakdown

  • Axie Infinity price analysis is bullish today.
  • AXS/USD continues upside.
  • Support is present at $137.

The Axie Infinity price analysis reveals that AXS is bullish today, as it continues upside after hitting the record high yesterday at $142. Further advancement in price has been observed today as bulls continue their lead. But signs of market pressure are also appearing as bears are striving for a retracement. At times AXS swang as high as $161, even $165 was also observed but the price capped at $142 yesterday.

The broader crypto market is retracing today after going high for the past two days, but AXS/USD is one of the few coins which are still in bullish momentum. The leaders’ Bitcoin and Ethereum are also retracing today, but AXS continues to discover new highs.

AXS/USD 1-day price chart: Can bulls cap the price at a new all-time high

The 1-day price chart for Axie Infinity price analysis shows that the price movement is overall on the upside today as well. The bulls are trying to take the bar higher. The AXS/USD shows a gain in value by 5.5 percent over the last 24 hours. AXS also reports a gain of 14.6 percent over the course of the last seven days. The trading volume is also up by 88.9 percent but may decrease over the coming hours. the market cap of AXS has also improved by 6.2 percent.

Axie Infinity Price Analysis: AXS bulls attempting to set new all-time high above $142, a retracement to follow? 1
AXS/USD 1-day price chart. Source: TradingView

The volatility is again increasing for AXS/USD pair as the Bollinger bands have started to diverge again, after going through a narrow channel for the past few days as price fluctuations were small during that time, but as AXS aimed for the record high, the volatility in token started to increase. The price is trading above the upper band, which at $141 represents support for AXS/USD.

The relative strength index is an important indicator for the ongoing buying and selling indications in the market. The RSI is leveling out horizontally, indicating a slow down in buying as bears enter the market.

Axie infinity price analysis: Recent developments and further technical indications

The 4-hour Axie Infinity price analysis shows the price breakout was downwards today, but then bulls took over and continued their upside endeavor as the price has now reached the $146.4 level at the time of writing, showing good performance. But recently, the price movement has slowed down as the traders are curbing the buying activity.

Axie Infinity Price Analysis: AXS bulls attempting to set new all-time high above $142, a retracement to follow? 2
AXS/USD 4-hours price chart. Source: TradingView

The volatility indicator on the 4-hour chart is showing vast expansion as the upper Bollinger band has now reached the $153 mark indicating resistance for the AXS/USD pair, and the average of the indicator at the $133 level represents the support, as the price continues to trade between the mean average and the upper limit of the indicator. The RSI on the 4-hour chart also confirms the slow down in buying as the movement of RSI is hinting at balanced buying and selling going on, and a breakout in either direction is possible.

Axie infinity price analysis: conclusion

The Axie Infinity price analysis shows bulls are trying for a new record high, but the closure of today’s session will decide if they could cap the price at a further higher level. If selling pressure overwhelms, then bulls will have to live with yesterday’s all-time high, but if bulls succeed in maintaining their momentum, then AXS will discover a new record high today. Even in the case of another record high, expectations are for not more than $146-$147 as bullish exhaustion is clear at this moment in time.

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.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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