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Axie infinity price analysis: Bullish momentum takes flight above $31, breaking past the resistance at $30

Axie infinity price analysis: Bullish momentum takes flight above $31, breaking past the resistance at $30
TL;DR Breakdown
  • Axie infinity price analysis shows a bullish trend.
  • Resistance for AXS is present at the $33.2 level.
  • Support for cryptocurrency is at $23.7.

The Axie infinity price analysis suggests a bullish trend for the day. The price has increased considerably during the last twenty-four hours and has now reached the $31.2 mark. Overall the cryptocurrency suffered immensely after 25 March 2022 as the trends mostly remained downwards, but the past few hours have been highly encouraging for the buyers, as the price glided past the $30 threshold. The trend has been continuous as the bulls are extending their range today.

AXS/USD 1-day price chart: Price moving unboundedly upwards

The one-day Axie infinity price is showing encouraging signs for the cryptocurrency as the price function is following the bullish movement. The price received sufficient momentum during the day, which made it possible for it to reach the $31.2 level.

The price has gone above the moving average (MA) value, i.e., $30 as well, which is a great achievement. In contrast, the Bollinger bands average is still at a greater height as it is holding up at $36.8.

AXSUSD 1 day price chart 2022 05 08
AXS/USD 1-day price chart. Source: TradingView

The volatility is on the increasing side. The Bollinger bands have changed their values as well. Now the upper band has reached the $50.7 mark representing the strongest resistance, while the lower band has reached the $52.35 mark representing the strongest support. The Relative Strength Index (RSI) has recovered from the borderline of the underbought area towards index 36 and is expected to go further above as well, as it hints at the buying activity in the market.

Axie infinity price analysis: Recent developments and further technical indications

The 4-hours Axie Infinity price analysis is also going in the bullish direction as well, as the price has been increased. This happened after the price broke out downwards at the start of the day. But the bulls came back for rescue, and since then, their momentum has shown its strength. The price has been increased to $31.2, which is still above the moving average value, i.e., $28.9.

AXSUSD 4 hour price chart 2022 05 08
AXS/USD 4-hours price chart. Source: TradingView

The Bollinger bands hint at a decrease in volatility and show their average at the $29.3 mark, while their upper value is standing at $32.9 and the lower one at $25.6. The RSI score is going 57 for the 4-hours price chart, which is still above the centerline of the neutral zone and the curve of the indicator is steeply upwards.

Axie infinity price analysis: conclusion

The price is going up once again according to the latest Axie infinity price analysis. The AXS/USD value is $31.2 at the time of writing and is expected to increase in value furthermore in the upcoming hours as well. However, the trend may go under change again in the next trading session.

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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