AXS tests previous swing high at $68, rally on the way

TL;DR Breakdown

  • Axie Infinity price analysis is bullish today.
  • AXS/USD rallied to the previous swing high today.
  • AXS is set to reach new several-week highs in days to come

Axie Infinity price analysis is bullish today as the market saw a strong advance over the past 24 hours and has approached the previous swing high at $65. As long as AXS/USD can keep up its momentum, we expect further upside later today and a new higher high.

Trading in the overall market was largely unfavorable for the last 24 hours. Bitcoin dropped 0.78 percent, whereas Ethereum lost 3.20 percent. Avalanche is currently the greatest beneficiary, with a rise of more than 10%.

Axie Infinity price movement in the last 24 hours: Axie Infinity retests previous swing high

For today’s daily Axie Infinity price analysis, XRP/USD stayed inside a range of $66.51 to $68.10, with low volatility throughout the last 24 hours. The total trading volume has dropped by 26.54 percent to $238.13 million and the overall market capitalization fluctuates around $4.08 billion, placing it at position 42 overall.

AXS/USD 4-hour chart: AXS set to break $68?

On the 4-hour chart, we can see the Axie Infinity price action attempting to break the $65 previous swing high.

Axie Infinity Price Analysis: AXS tests previous swing high at $68, rally on the way 1
AXS/USD 4-hour chart. Source: TradingView

The price of Axie Infinity has been in a strong upswing lately, with bullish momentum resuming over the last week. On September 7th, after a drop of more than 30%, a new low was established at $33.

The price of the NFT token has been experiencing a strong upward momentum since the NFT craze begun, as it rose from roughly $4.20 to over $90. However, after trading at a height of around $75 for a few days in Sept, the cryptocurrency took a downward correction and quickly broke below the $70 support leel.

A higher low was established there with a several-day consolidation. Late Yesterday, the Axie Infinity price started trading higher again, resulting in the previous swing high of $68 over the past hours.

Axie Infinity Price Analysis: Conclusion 

The price analysis of the Axie Infinity market is favorable today, as the market has made a big leap today towards the $68 mark after struggling with bears at $65. As a result, if AXS/USD can keep up the momentum, we anticipate further gains during the day and a strong higher high being established next.

While you wait for Axie Infinity to develop further, check out our posts on Wrapped Bitcoin, Decentralized Exchanges, and the NFTs.

Disclaimer. The information provided is not trading advice. 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.

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