Axie Infinity (AXS), like most different metaverse and blockchain gaming tokens, has been falling sharply in the previous couple of weeks or so. Nonetheless, we’re beginning to see some worth consolidation. It appears the downtrend is stalling at the least for now. However does this recommend a development reversal is coming? We’ll analyze this under however first, some highlights:
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Axie Infinity (AXS) is essentially buying and selling sideways in the meanwhile, holding on to its sturdy assist zone of $48.
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On the time of writing, AXS was buying and selling at $45, down round 5% in 24-hour intraday buying and selling.
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AXS has been within the bear marketplace for most components of January and worth consolidation may very well be an indication a development reversal is close to.
Knowledge Supply: Tradingview.com
Axie Infinity (AXS) – Worth prediction and evaluation
From our evaluation, Axie Infinity (AXS) began its downward development initially of November 2021. There have been a number of rallies in between however the common development has at all times been downwards.
The 2022 crypto crash did nothing to make the scenario higher. As most crypto belongings fell, metaverse tokens like AXS had been hit laborious. However in current days, the worth motion seems to have stalled.
AXS is discovering sturdy assist at $48, and if it might maintain buying and selling above this threshold within the coming days, then there may very well be an actual development reversal right here. But when bulls will not be in a position to maintain the worth at $48, then we’re more likely to see extra weak point on AXS within the close to time period.
Why shopping for Axie Infinity (AXS) remains to be a good suggestion
Regardless of the bullish development over the previous couple of weeks, AXS nonetheless stays a really respectable asset. Metaverse and blockchain tokens are anticipated to be huge. Whereas we anticipate extra cash to return out, by advantage of being a pioneer, AXS stands an enormous probability of delivering lots of worth for traders sooner or later.