Axie infinity’s glamorous entry impressed holders– prices growl to rise

• The trading and battling game will now be available on Play Store.
• Trading volume increases by 60% valuing $51.5 million.
• Prices may take a u-turn soon.

As per the latest developments, Axie Infinity (AXS) will now be available on Google Play Store. The creator of the game, Sky Mavis, announced that they would debut Axie Infinity: Origins on the Play Store. It is considered a big step for the project, given the negative reception of NFTs from traditional gamers and the hack that hit earlier this year. The announcement attracted many crypto freaks to look out for AXS. Hence, the coin has risen by nearly 4% in the past few weeks.

Monoscope

The prices are forming a falling parallel channel, with current action taking place in the upper region. If the prices can successfully sustain above the 50-EMA, a bullish swing can be established. The flat laying OBV and constant volume reflect a less volatile market. The price rise is anticipated to send prices near the level of $12. The price have tested the support zone of $4 several times and continues to do so. 

The deeper analysis suggests a neutral phase to prevail until the next update. The CMF holds a spot beneath the baseline and moves horizontally. The RSI slopes down from the 50 mark to the lower ranges as selling pressure increases slightly. The MACD records consistent selling occurring at this point with no improvement in interest. 

Microscope

The smaller time frame reflects prices falling unceasingly, opposing the reaction expected from the launch. The CMF slopes down but maintains a spot in the positive zone. The RSI goes to become oversold, breaching the floor border. MACD records sellers entering the market steadily and the lines moving parallel to the zero-histogram mark. 

Conclusion

The market is not reacting as per the expectations after the launch. AXS prices repel users instead of attracting them. The prices show promising highs, but do not act as per the targets. 

Technical levels

Support levels: $2.05 and $4.10

Resistance levels: $10.47 and $14.15

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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.