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AXS Price Analysis: Axie Infinity price consolidating below $70 as bulls warm up ahead of rally

FIL USDT price analysis

TL;DR Breakdown

  • AXS  price analysis is bullish for today
  • The overall cryptocurrency market is trading within the green zone
  • Bulls made a huge step  after they topped an all-time high at $77.48 on the 11th of August 

AXS Infinity Price Analysis: General price overview

AXS  price analysis is bullish for today after the market bounced from yesterday’s low close to $71 in the early morning hours. This was a huge step for the bulls after they topped an all-time high at $77.48 on the 11th of August and retraced. The current rally is an attempt to recover the overhead support at $75 and consolidate enough momentum to set high targets above $80.

Overall, the cryptocurrency market is trading in the red in the last 24 hours. Bitcoin and Ethereum have lost 3.00 and 4.00 percent respectively. Solana is the best performer with a 25 percent gain. While XRP is the worst performer after shedding 10 percent of its value in the last 24 hours. 

Axie Infinity price movement in the last 24 hours

AXS/USD traded within a daily range of $67.6 – $71.042, indicating moderate volatility in the last 24 hours. Axie Infinity trading volume fell by 4.24 percent to $844 million. On the other hand, the total market capitalization for Axie Infinity rose by 3.56 percent to approximately $4 billion. 

Axie Infinity 4-hour price analysis

On the 4-hour AXS price analysis, the coin is attempting to break resistance at $69. A price hurdle that’s been pulling the bulls towards $65. The coin has already witnessed strong advancement between $70 and $77, and there are high chances of testing those previous highs in the upcoming hours. At the time of writing, AXS/USD is trading at $68.744. 

AXS price analysis
Source: TradingView

A break above $70 may clear the path to $81 or even the psychological hurdle of 100, but a breakdown below 20-day EMA could lead to a deeper correction.

Axie Infinity price analysis conclusion

AXS price analysis is bullish for today as we anticipate the digital currency to record new upsides in the next 24 hours. We hence expect the bulls to come in stronger and support a consolidation that will take the price above the ATH of $77. 

Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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