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- 1 Axie Infinity’s price (AXS) is up by 0.14% in the past 24 hours and is currently trading at $4.54.
- 2 Axie Infinity (AXS) price dropped below the key moving average of 50 and 200-day EMA.
- 3 AXS price suffered multiple rejections from an upper trendline resistance.
The price prediction of the Axie Infinity over the weekly chart shows that the coin price is declining steadily to break below the 2-year low. In May 2021, the crypto surged from a low of $2.7 and hit a high of $171.8 in November 2021.
Since then, the price has been declining continuously and returned to its 2-year low value of $4.7. The daily chart shows that the crypto price is declining by suffering multiple rejections from an upper trendline resistance.
Also, the AXS price slid below the key moving average of 50 and 200-day EMA indicating weakness in the long-term as well as short-term. The bulls made several attempts to break above the previous swing high and shift the trend. However, they failed to make a change in the trend and the price declined again.
Currently, the price is trying to sustain near the previous swing low which might be the last defending zone for the buyers.
Axie Infinity Price Declined Suffering Rejection
The Axie Infinity price is currently trading at $4.5 and consolidating near the previous swing low. The breakdown of the range may wipe out another 6-8% of the market capitalization and drag the price down to $4.
However, if more buyers accumulate at the lower levels and the price manages to break above $5.02, then it may surge till the upper trendline resistance.
Technical Indicators Showing Indecisive Trend
MACD lines have gone flat. Also, histogram bars are being formed above the mean line but of negligible height indicating an indecisive trend at the moment.
The EMA analysis shows that the AXS price dropped below the 50 and 200-day EMA indicating the domination of sellers in the crypto price.
At the time of publishing, the RSI value of the AXS token is 32.1 and that of the SMA line is 29.8. RSI is trying to recover after entering an oversold region indicating weakness on the charts.
Conclusion
Axie Infinity (AXS) crypto price has been falling from $171.8 in November 2021 to $4.5 in September 2023. The price is below the 50 and 200-day EMA and facing a trendline resistance. The price is near the previous swing low of $4.7, which may be a support zone. If the price breaks below $4.7, it may drop to $4. However, if the price breaks above $5.02, it may rise to the trendline.
Technical Levels
- Support levels: $4.5 and $4.07
- Resistance levels: $6.6 and $7.27
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
