Axie Infinity, a blockchain game that lets players collect, breed, and fight with digital creatures called Axies, has revealed that its governance token AXS is now available on Coincheck, a top crypto exchange in Japan. This is a big achievement for the project, as it grows its presence and adoption in the Asian market.
The official announcement states that Coincheck began taking deposits of AXS on September 22, 2023, and will start trading pairs with Japanese yen (JPY) and Bitcoin (BTC) on September 23, 2023. Coincheck also plans to launch a campaign to give bonus tokens to users who trade AXS on its platform.
The AXS listing on Coincheck is likely to increase the demand and liquidity of the token. It will also boost the popularity and awareness of Axie Infinity in Japan and other Asian countries.
AXS Token plummeted 0.22% in market value and fell 62.31% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $646,292,391 and its trading volume is $36,472,982. There are 141,310,643 AXS in circulation.
AXS Coin Price Technical Analysis in the 1-Day Timeframe
The AXS price faced resistance from the exponential moving averages (EMAs) and was trading at $4.56430000 price with an intraday loss of 0.45%.
The AXS price had been falling for a long time following a downward trendline on the charts and facing constant resistance. At the time of writing, AXS price is at $4.56430000 and moving sideways in a range. Furthermore, if AXS breaks above the nearest resistance, it might rise for reclaiming levels. On the upside, AXS price can meet the nearest resistance levels at $5 and $6.
On the other hand, AXS price could resume its downtrend and reach the nearest support levels at $4 and $3 if it fails to hold the current level.
At the time of publishing, Axie Infinity (AXS) is trading below the 20, and 50-day EMAs (exponential moving averages) which are rejecting the AXS price trend.
The MACD line at 0.07722071 and the signal line at 0.11372000 are both under the zero line and they are crossing each other. The histogram gap is narrow in the MACD oscillator, which shows that the price is consolidating.
The RSI value is 47.93 points and the 14-day SMA is 45.34 points, which is below the middle line. This means that the price is below the median line.
AXS has been weak last month, losing 6.52% of its value and dropping 22.77% in the last three months. Axie Infinity (AXS) has a negative annual return of 63.11%.
Conclusion
The daily chart of AXS price reveals the pessimism and uncertainty of the investors and traders about the future of Axie Infinity. The price trend of AXS is bearish as it is below the trendline resistance and it is moving horizontally sideways. Furthermore, the technical indicators of the Axie Infinity price suggest that the consolidation may turn into a downtrend in the daily chart. Important reliable indicators MACD, RSI, and EMA give negative signals about the AXS price.
Technical Levels
- Support levels: $4 and $3
- Resistance levels: $5 and $6
