Axie Infinity Signals Bullish Outlook, Analyst Predicts Rise To $22
Axie Infinity price is up nearly 9% in the last two days, breaching the $7.76 threshold on Thursday. A stable close above $8.00 could bring more gains in the short term as AXS continues to show strength amid volatile market sentiment. AXS/USD is trading with a bullish bias. Nonetheless, in the last 24 hours, the trading volume is down by 27%, per CoinMarketCap data, suggesting a considerable decline in trading activity compared to the previous day. After breaking the short-term consolidation of $6.51 and $7.70, the price jumped with strong buying conviction, as seen with a green Morubozu candlestick on the daily chart. The resistance in the daily time frame stands at the April high of $8.20. In the short term, the bulls could push the price higher after the massive daily close.The recent price action has morphed into a “Morning Star” pattern on the weekly chart, representing a bullish reversal validation. Based on the bullish formation on the weekly chart, Axie Infinity has been steadily gaining value over the past few sessions. Analysts anticipate that it will surpass the $10.00 mark by a significant margin in the near future.Famous analyst Ali also mentioned a bullish technical formation on the weekly chart, which gives an upside target price for the token.
RSI trades below 50. Hence, validation is required for the prices to continue on the upward trajectory. MACD coincides with the central line, showing a neutral bias at the current price movement.Investors are advised to clearly wait for the key levels on a closing basis to stay invested. The current resistance level for Axe Infinity is at $7.76, while the key support zone is fluctuating around $6.65.
