Axie Infinity price down by 12% on a monthly basis.

AXS price trading below the 50 and 200 day EMA showcase downtrend.

Axie Infinity crypto price seems to be getting stuck into the narrow range.

Axie Infinity price fell 12% on previous month and down by 40% approx from the recent peak. AXS price is slipping down by forming lower low swings and has dropped below the 50 day EMA showcase short term trend is in downward direction.

Axie Infinity price seems to be lacking momentum on the higher levels and getting stuck into the narrow range of consolidation. However, prices might show a sharp up move if bulls succeed to regain the 50 day EMA.

Axie Infinity price is trading at $8.36 with an intraday decline of -0.24% and 24 hour volume to market cap ratio is at 0.0409. The pair of AXS/BTC is trading at 0.0002945 with an intraday rise of 0.07% which shows minor divergence between the direction of both the pairs. At the mid of January, AXS crypto witnessed a massive spike in the buying volume and price surged 40% on a single day which created hope for the rally.

However, Axie Infinity price failed to give the follow up momentum and formed a bearish rejection candle from the supply zone. Later, prices consolidated for a few weeks near the supply zone in the hope of upward range expansion. Sladly, prices drop below the lower range and begin to decline in the downward direction.

Will Axie Infinity Price see a turnaround?

Source: AXS/USDT daily chart by TradingView

Axie Infinity price took support at $7.00 and formed a hammer candle which shows the signs of bullish trend reversal. However, the confirmation of the trend reversal will come when bulls succeed to break out of the $10.00 hurdle level. On the other hand, if the prices faced rejection from the supply zone then bears might again try to drag the prices down toward the yearly lows.

The technical analysis suggests AXS price is downtrend and the probability of the sharp rebound is low. However, if the overall market remains bullish then we might expect a short term relief rally in coming months.

AXS price defend the previous low

AXS price declined for the past seven consecutive weeks and hit a low at $6.88. However, from the last few weeks Axie Infinity price is defending its previous lows and showed a decent recovery of 20% approx. It indicates buyers are active near the demand zone.

The technical indicators like MACD have generated a positive crossover indicating strength of buyers and prices are likely to trade with the bullish bias. The RSI at 47 denotes neutral zone and balance between bullish and bearish positions.

Conclusion

Axie Infinity price fell 12% on a monthly basis and lost all its previous gains. AXS price is in downtrend and struggles to climb above the 50 day EMA to reverse the short term trend. The technical analysis suggests Axie Infinity crypto price is in bear grip and the probability of the sharp rebound remains low.

Technical levels

Resistance levels : $10.00 and $13.96

Support levels : $6.90 and $5.82

#AXS #axieinfinity #Binance #crypto2023 #crypto

Today I promised one of my subscribers to do an Analysis on the Axie Infinity (AXS) crypto coin, I want to do a Fundamental and Technical Analysis of the coin in this article.

Axie Infinity is a gaming platform based on the Ethereum blockchain. This gaming ecosystem is a combination of a farm game and a collection of digital assets that can be traded and traded.

One of the key success factors for this coin is the high demand for gaming assets within the Axie Infinity platform. Users actively participate in games and competitions, while buying, selling and exchanging blockchain-based digital assets. Therefore, the more activity there is on the platform, the more demand there will be for AXS.

In addition, the Axie Infinity team is working on expanding the gaming ecosystem and adding new features to the platform. They recently launched the Ronin network, which solves Ethereum's scalability issues and allows for fast and low-cost transactions. This improvement improves the quality of the gameplay and makes Axie Infinity even more attractive to users.

Also, Axie Infinity is actively developing its Decentralized Autonomous Organization (DAO). This allows the user community to take part in the management of the platform, make suggestions and make decisions. This gives users more control over the ecosystem and, as a result, increases their interest in the development and success of the platform.

Finally, don't forget Axie Infinity's strong partnerships. They have partnerships with companies like Ubisoft and MakerDAO, which could bring more users and investors to the Axie Infinity ecosystem.

Based on the above, we can assume that Axie Infinity has the potential for further growth. Users actively participate in games and competitions, and partnerships with large companies increase the credibility of the platform

Axie Infinity is a game where players can buy, sell and trade virtual creatures called Axies. These creatures are used to fight in the game, and they can be upgraded and upgraded with certain items and resources.

The AXS token is used in the game as a means of payment for entering the game, purchasing Axies and other items, and to receive rewards for participating in the game's economy.

In general, the gaming industry has its own unique trends and risks that may differ from other industries. Therefore, when investing in an AXS token, it is important to consider not only factors related to the game ecosystem, but also other factors such as competition, user base, and others.

Based on our fundamental analysis of the Axie Infinity (AXS) coin, we can recommend it for a long-term portfolio investment.

It has the potential to grow with the active and growing user base of Axie Infinity, which may attract more users in the future. In addition, the developers of Axie Infinity are also promoting NFT and DeFi technologies, which can lead to further development of the game ecosystem and an increase in demand for the AXS token.

However, it is important to consider the risks associated with the gaming industry, as well as other factors such as competition and changes in the regulatory environment that may affect the price of the AXS token. Therefore, as with any investment, it is recommended that you do your own analysis and make informed decisions based on your personal assessment of risk and potential return.

As for the Tech Analysis done according to my methodology, we have goals for #AXS

Long-term (taking into account x3 it is generally ideal to take it on Margin)

#AXS Goals

1 - 10.45 (Golden Cross on 1d)

2 - 10.75 (Golden Cross at 4h)

3 - 11.15

4 - 12.30

5 - 14.25

6 - 20.55

⚠️ SL - 9.45 (REQUIRED)

Taking into account the fact that we take a coin at x3 Margin, it is enough for us to make + 35% to the price from the current price of 9.95, then on the 5th target we will already make 100% to the bank or 1 to 1.

Cryptocurrencies are high-risk assets and their prices can fluctuate widely. Therefore, in order to minimize risks and save your investments, it is necessary to follow the rules of risk management and bank management. Don't invest more than you can afford to lose and spread your portfolio across different assets.

Also, don't forget to do your own research (DYOR - Do Your Own Research) before making investment decisions. Use only trusted sources of information, and do not rely on the opinions of other people. The crypto world is changing rapidly and often involves risks that may not be obvious at the beginning. So be vigilant and remember to manage risk in your investment decisions.

#QYZMET #NFTCommunity