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AXS/USD pair to break the bearish Momentum soon

Cryptopolitan


TL; DR Breakdown

  • The Bollinger bands opened the daily price chart when they were wide, signaling high volatility.
  • The general view of the Daily chart seems bearish as there are more red candlesticks than green.
  • Axie Infinity opened the 24-hours price analysis chart at $78.3.

Axie Infinity price analysis: General price overview

On the daily Axie Infinity price chart, yesterday’s last twenty minutes witnessed a storm of Buyers blasting the AXS/USD market, pushing the price sharply higher and establishing a flag trend.

The bullish trend on today’s Axie Infinity price analysis chart lasted just five minutes before coming to an end at resistance at a $78.5 intraday high. All this time, sellers were on the drawing table preparing for an attack. Bears caused strong resistance at the intraday high, causing the price of AXS to drop, forming an inverted triangle.

Since then, the AXS traded in head and shoulder trends. Sellers kept on coming into the market in numbers. As a result, the bear pressure was so much for bulls to withstand, causing the prices to drop to an intraday low of $74.3.

The Bollinger bands opened the daily price chart when they were wide, signaling high volatility. However, at the time of writing, they are narrow, indicating low volatility. Most altcoins are bleeding on the daily cryptocurrency heat map.

Source: Coin360

The largest digital asset is trading at $48K, which is a -0.77 percent loss. Its closes competitor, Ether is trading in the same direction, posting a loss of -0.96 percent setting its price to slightly above $3K. The Binance coin (BNB) is trading at a loss of more than one percent at $475.

Gainers of the day include; Revain with more than 40 percent increase, Fantom comes second with 38 percent increment, and finally, Gnosis closes our top three gainers with a 25 percent increment. Axie Infinity, according to the cryptocurrency heat map, AXS/USD is trading positively with a 1 percent increase.

Axie Infinity price movement in the last 24 hours: AXS/USD outlook bearish

Axie Infinity price analysis shows it opened the 24-hours price analysis chart at $78.3. There seem to be weak bullish momentum signs suggested by the RSI and a falling 50-day EMA. If the bullish momentum gains strength with increasing buyers, it could invalidate the short-term bearish outlook and prevent further movement towards the 100-day SMA. 

The general view of the daily chart seems bearish as there are more red candlesticks than green as per Axie Infinity price analysis.

AXS/USD 4-hour chart: AXS starts to rally

In our four-hour Axie Infinity price analysis, Axie Infinity is trading moderately, forming cup and handle trends. The cup and handle trend signals a possible bullish run.

Axie Infinity price analysis: AXS/USD pair to break $78 barrier to end bear season 2

Source: TradingView

The MACD line has crossed over the red line. This suggests that the buying pressure is more than the selling pressure, meaning that AXS price surging in the next few hours is high.

Axie Infinity Price Analysis: Conclusion 

AXS/USD pair seems to be gaining bullish momentum in the one-hour price chart. If buyers come in numbers to support the bullish momentum, AXS/USD price might surge and surpass the intraday high of $78.4.

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.



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