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- Norwegian police has recently recovered $5.8M crypto from the Axie Infinity hack
- Technical indicators of AXS are favoring an upside trend in price.It has seen a gain of 0..4% in the BTC pair
Axie Infinity is a blockchain-based online game that has gained popularity in the cryptocurrency community. The game features digital creatures called Axies that players can breed, battle, and trade. The Axie are stored on the Ethereum blockchain, which makes them unique and valuable digital assets that can be bought and sold on cryptocurrency exchanges. The game’s native cryptocurrency is called AXS.
Axie Infinity has become a phenomenon in the world of cryptocurrency, with some players earning significant amounts of money by playing the game and trading their Axies. The game has also attracted attention from investors, with the price of AXS skyrocketing in 2021. The success of Axie Infinity can be attributed to several factors. The game has a strong community of players who are passionate about the game and its ecosystem. Recently Norwegian police has recently recovered $5.8M crypto from the Axie Infinity hack.
Axie infinty is ranked 49th in the cryptoverse and has a market cap of $1,246,331,756. Volume of the AXS has seen a gain of 50% in the intraday session. Volume to the market cap ratio of the Axie Infinity suggests a consolidated trend in price.
Bulls Are Supporting AXS Upside Trend
The weekly technical chart of the AXS suggests a consolidated trend in price. On the daily chart it is trading near the value of $11.16 with a gain of 2.5% in intraday session. It is currently moving in a weak consolidated trend but can see a breakout. Resistance of the AXS can be seen near $15.Meanwhile the support of the asset price can be seen near $7.5.It is currently trading above 50 and 100 Daily Moving Average. There can be a positive crossover which can push the asset price to a new high.
RSI of the AXS can be seen near 57 suggesting its presence in the neutral zone.There is a positive slope suggesting a upside trend for the future.
Conclusion
AXIE is currently in an upside trend with the rise in crypto market.Various analysts are expecting a strong growth in Axis price.
Technical Levels
Major Resistance: $15
Major Support: $8
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
