Axie Infinity faced a correction in the previous trading sessions from the high of $11.11. Moreover, the price is headed downward from there and trying to bounce back from the 100-day EMA level.
However, the price is showing some signs of recovery. It bounced back from the 100-day exponential moving average (EMA) level, which acts as a dynamic support. The 100-day EMA is currently at $7.112, and the price has closed above it for the past three days. It indicates that the bulls are defending this level and preventing further downside.
Axie Infinity crypto price has been unable to surpass the key resistance levels and has been trapped below them. Currently, Axie Infinity cryptos require more buyers to push an upward movement toward recovery. However, the trading volume is low, which shows a lack of enthusiasm and momentum. At the same time, Axie Infinity cryptos have fallen below the 20 and 50-day daily moving averages, which are bearish signs.
Axie Infinity’s crypto price dropped about 30% again from the level of $11. These trends show the difficulties faced by Axie Infinity cryptos in their recovery efforts lately.
Technical indicators point to the downside trend of Axie Infinity crypto price. Relative strength index and moving average convergence divergence both show the slippage of Axie Infinity crypto price.
The price currently needs significant support from the buyers to make a recovery as it is facing major resistance from the previous resistance points and multiple moving average levels. Buyers are taking control of the price action, according to the candlestick patterns.
The price may soon try to make a bullish recovery. However, as it is trading below the key EMA levels, the buyers will have to overcome multiple resistance levels to reach the target. Buyers are currently making consistent efforts to regain charge of the trend.
Axie Infinity On the Technical Charts
On the daily charts, Axie Infinity crypto shows sellers’ dominance and slid below neutrality, showing a negative outlook on the charts.
At the time of publishing, Axie Infinity crypto (USD: AXS) is trading below the 50 and 20-day DMAs (Daily moving averages), which are supporting the price trend. The current value of RSI is 46 points. The 14 SMA is close to the median line at 48 points which indicates that the Axie Infinity crypto is bearish.
The MACD line and the signal line are below the zero line. A bearish crossover is observed in the MACD indicator, which signals more bearishness for the AXS crypto price.
Overall, the technical indicators and price action suggest that Axie Infinity crypto is bearish and that the downtrend may persist.
Summary
Axie Infinity (USD: AXS) technical indicators confirm the bearish trend. The MACD, RSI, and EMA are showing negative signals and indicate that the downtrend may persist in the AXS crypto price. Axie Infinity Price movement shows that the buyers and sellers are bearish on the 1-D time frame. The price movement reveals a bearish outlook currently.
Technical Levels
Support Levels: The Axie Infinity crypto price may find support at $6.863 and $7.00, where it could bounce back or stabilize.
Resistance levels: The AXS crypto price may face resistance at $9.042 and $11.11, where it could reverse or consolidate.
