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•AXS/USD is currently priced at $9.04 and has increased by 5.18% over the past day
•The trading volumes have increased by 7.50% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Axie Infinity bulls going on a rampage
The Axie Infinity price today is $9.04 USD with a 24-hour trading volume of $556,349,564 USD. Axie Infinity is up 5.18% in the last 24 hours. The trading volumes have increased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.6171 for the altcoin.
Despite losing a bit of steam on Tuesday, Axie Infinity looks well on course to scale greater heights. The huge influx of buyers witnessed over the past few days has led to the Axie Infinity price transacting above the 20,50 SMA on the four hour chart. The bears will have a tough time negotiating the Axie Infinity price below the $8.50 support level. On the flip side, there remains a massive possibility of the asset continuing to defy expectations as the asset aims to take flight towards the $10 resistance level.
Long Term View for Axie Infinity price
The uptrend is in full swing as the Axie Infinity price is picking up pace since the beginning of the week. The bears have had their shells broken as the green histograms have increased in size multifolds over the past day. The MACD and signal lines continue to ascend towards the positive territory which is another strong indicator for the Axie Infinity investors. The RSI is also going from strength to strength and is currently transacting at 65.74.
Conclusion
The Axie Infinity price has bulldozed its way through the dense bearish forest and is currently on a remarkable upward swing. The asset will be aiming to go the extra mile in the coming days as the technical indicators suggest a positive outlook.
Support: $8.80-$8.50
Resistance: $9.50-$10
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
