Axie Infinity price analysis: Crypto crash pushes AXS/USD below $50
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- Axie Infinity price analysis is extremely bearish today
- AXS/USD price has been low overnight amid crypto crash
- Axis Infinity’s price resistance is at $55.69.
Axie Infinity traded in bearish movements yesterday, and at the market’s closure, the market closed with a bearish momentum. With the weekend curve slanting towards the downward movement, AXS/USD has touched $50 low. Axie Infinity has been in a period of SMA consolidation between $60.63 to $54.63 in the last 24 hours. Axie infinity has gained a slight upward movement towards the resistance at $52.29.
Bitcoin has gained slightly with a 1.05 percent increase retracing on track at $35,211.70. Solana and LUNA have also risen marginally. Ethereum and Cardano have registered bearish trends dropping to 0.43 percent and 4.41 percent, respectively.
Axie Infinity price movement in the last 24 hours: Touching new daily lows
The bearish pressure has dominated the market in the last 24 hours. However, it has shown mixed reactions, restraining itself from further downward movement after touching fresh daily lows.
Axie Infinity has traded in a range of $50.76 to $54.63. However, the trading volume has registered a drop of 26.75 percent. Axie Infinity price analysis has a market dominance of 0.26 percent, ranking number 36 in the cryptocurrency market. Axie Infinity has declined; however, it is likely to register an upward movement towards the local resistance at $52.29.
Axie Infinity/USD 4-hour chart: Is Axie Infinity likely to turn bullish?
The MACD line has crossed over the red signal line, indicating bullish pressure; more buyers are in the market. The histograms are more and taller than the red bars indicating a bullish trend.
Bollinger bands are wide therefore indicating high volatility in the market. The price is nearing the upper band, indicating a strong bullish trend. The RSI is at 29, the oversold region, indicating that the bears have gathered numbers to curve the bullish trend.
Axie Infinity Price Analysis Conclusion: Bears are firmly on the driving seat
Axie Infinity’s price is bearish today, rejecting upward movement firmly. Selling pressure has dominated the market, and its price is hovering around the local resistance of $52.29.Axie Infinity price is expected to restrain itself from downward movement and gain a bullish trend in the next 24 hours.
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