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Axie Infinity price analysis: AXS price stumbles at $67.4 due to bearish takeover

Axie Infinity price analysis AXS price stumbles at due to bearish takeover

TL;DR Breakdown

  • Price has devalued up to $67.4.
  • Axie Infinity price analysis predicts a bearish trend.
  • Support is still found at $61.2.

The latest Axie Infinity price analysis confirms the bearish trend for today, as the selling activity has intensified. The price function is headed downwards at the moment marking a drop in cryptocurrency’s value, as it is now settling at a $67.4 low. Although the bulls were leading the market in the previous week, the current market trend is supporting the bears. Further downfall in THETA/USD value can be expected in the upcoming days.

AXS/USD 1-day price chart: Cryptocurrency value slips back to $67.4 margin

The one-day Axie Infinity price analysis predicts a bearish trend for the market as a sudden drop in price was observed today. Although the bulls were progressing quite swiftly in the previous week, the trends are shifting in favor of the sellers. The coin value has been reduced to $67.4, losing around 5.26 percent value overnight due to the latest bearish shock. The moving average (MA) value is still far below the price level, which is standing at $57.3.

Axie Infinity price analysis: AXS price stumbles at $67.4 due to bearish takeover 1
AXS/USD 1-day price chart. Source: TradingView

The Bollinger bands are slowly contracting, which means that further downturn in price is quite expectant. The upper value of the Bollinger Bands Indicator is now $69.4, whereas the lower value is now $40.2, representing high volatility for AXS. The Relative Strength Index (RSI) graph shows a bearish curve as well, as the score has downgraded to index 55, but this still is an acceptably good score.

Axie Infinity price analysis: Recent developments and further technical indications

The AXS/USD value has undergone a decline in the past four hours, as the price has covered a downward movement. The four-hour price chart shows a red candlestick occupying the leading position, and the price has been lowered to $67.5 low. The selling activity will likely intensify further as the bearish pressure is heightening up. As mentioned in the four-hour price chart, the moving average value is at a $68.5 high above the price level.

Axie Infinity price analysis: AXS price stumbles at $67.4 due to bearish takeover 2
AXS/USD 4-hours price chart. Source: TradingView

Due to the latest downturn, the Bollinger bands average is now touching the $62.7 mark. The upper end of the Bollinger bands indicator is at $75.1, and its lower end is at $50.4. The RSI graph shows a downward curve, and after falling from the overbought region, the indicator is settling at index 68, in the neutral range.

Axie Infinity price analysis conclusion

The one-day and four-hour Axie Infinity price analysis supports the sellers, as a drop in price was detected in the last 24-hours. The one-day price chart shows the coin value settling on the $67.4 mark due to the latest bearish push. Furthermore, the hourly price chart also indicates an unexpected decline in the AXS/USD market price. However, the support is there for AXS at 61.2.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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