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- Axie Infinity price is trading with strong downtrend momentum over the daily price chart.
- AXS crypto has fallen below 50 EMA and is now moving down towards the 20 EMA.
- The pair of AXS/BTC is at 0.0007436 BTC with an intraday drop of 4.55%.
Axie Infinity price has been trying to register its breakout from the consolidation phase but bulls failed to sustain and the token is now trading with strong downtrend momentum over the daily price chart. AXS crypto must regain its position out of the consolidation phase and must attract more buyers to acquire its position. However, the token is down by 7.46% in the last 24-hour. AXS bulls need to come forward for the rescue of the token from short-sellers’ clutch. AXS coin has been consolidating inside the price range of $11.50 and $18.50 since 15th June.
Axie Infinity’s price is currently estimated at $16.33; over the past 24 hours, it has lost 7.46% of its market value. The intraday trading session saw a 46.62% decline in trade volume. This demonstrates the presence of sellers who are attempting to pull the token towards the consolidation phase’s lower range. It equals 0.1839 volume to market capitalization.
AXS coin price tried to register its breakout from the consolidation phase but failed and is now facing correction in its price. It’s a matter of time to see if bulls accumulate themselves to let the token surge towards the u[pper range. However, volume change can be seen below average and needs to grow in favor of bulls to let AXS coin surge. Nevertheless, bears are trying to continuously pull AXS towards the lower price range of the consolidation phase.
Will AXS surge towards the upper Range?
AXS coin price is trading with strong downtrend momentum and under the influence of bears. The token must escape the short-sellers’ clutch and should try to accumulate buyers to register its recovery phase. Technical Indicators suggest the downtrend momentum of AXS coin.
Relative Strength Index showcases the bearish momentum of AXS coin. RSI is at 51 and is heading towards neutrality for a breakdown. MACD exhibits the downtrend momentum of AXS coin. The MACD line is heading towards the signal line for a negative crossover. AXS investors need to wait for any directional change over the daily price chart.
Conclusion
Axie Infinity price has been trying to register its breakout from the consolidation phase but bulls failed to sustain and the token is now trading with strong downtrend momentum over the daily price chart. AXS crypto must regain its position out of the consolidation phase and must attract more buyers to acquire its position. However, the token is down by 7.46% in the last 24-hour. AXS bulls need to come forward for the rescue of the token from short-sellers’ clutch. However, volume change can be seen below average and needs to grow in favor of bulls to let AXS coin surge. Nevertheless, bears are trying to continuously pull AXS towards the lower price range of the consolidation phase. Technical Indicators suggest the downtrend momentum of AXS coin. The MACD line is heading towards the signal line for a negative crossover. AXS investors need to wait for any directional change over the daily price chart.
Technical Levels
Support Levels: $15.00 and $11.50
Resistance Levels: $18.50 and $20.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
