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- 1 The Axie Infinity price retraced the 200-Day EMA and extended its move upwards.
- 2 The technical indicators imply a bullish outlook after the breakout from the 50-Day EMA.
The Axie Infinity crypto reversed its course from the 200-Day EMA and turned positive in the short term. The crypto formed a triple bottom pattern near the 200-Day EMA indicating the failure of sellers at the lower levels and a potential reversal.
The failure of the sellers invited the buyers to enter the market as the price lifted off with momentum. The crypto extended its rally upwards, breaking above the 50 and 200-Day EMAs.
Moreover, the recent price hike terminated a short-term correction phase and suggests that the crypto may experience a new advancement phase.
At press time, the AXS crypto was hovering near the $7.8 level with a positive development of nearly 3.89% in the last 24 hours. This shows that the crypto has gained momentum and might resume its journey on the higher side.
Axie Infinity Crypto Volume Analysis
The volume analysis shows that Axie Infinity received $66.293 Million in the past 24 hours with a 24.7% drop since yesterday. Also, the volume to market cap ratio is 6.30%, highlighting low volatility in the crypto.
Furthermore, it has a fixed total supply of 270 Million AXS tokens, out of which, 137.249 Million tokens are in the circulating supply. The circulating supply is almost 50.83% of the total supply.
Axie Infinity Crypto Volume Analysis
From a technical perspective, AXS crypto has surpassed the 50 and 20-Day EMAs, intending to scratch higher levels and resume the long-term trend.
At the time of writing, the RSI line was placed at 58.24 points which was above the mean line. Whereas, the SMA line was at 47.91, hovering near the mean line and suggesting the initiation of a positive trend in the market.
Moreover, the RSI line has made a bullish crossover of the SMA line, indicating the continuation of the trend in the short term.
Axie Infinity Price Prediction For February 2024
The positive view of analysts predicts an upside potential of over 16.94% by February end, which could take the Axie Infinity price above the $9.24 mark.
On the other hand, the bearish view of analysts predicts that the price could drop near the lower levels of $7 and $5.5 level if it sinks below the 50-Day EMA.
Axie Infinity Price Prediction for 2024
The price prediction for 2024 shows that the Axie Infinity may advance to a high of $13.447 by the end of 2024. The less optimistic analysts estimate a price target of $10.77 by the end of the year.
Axie Infinity Price Prediction for 2025
As per the most positive view of our analysts, the price may hit the $20.48 mark, suggesting an upside potential of 157.09% by 2025. The pessimistic view is that the price could reach $14.49 by the end of the financial year 2025.
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.
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.
