Why Axie Infinity (AXS) Could Rally After Hide And Seek, Eyes $20
03 Setembro 2022 - 4:25PM
NEWSBTC
Axie Infinity (AXS) has recently shown significant strength against
tether (USDT) as the price prepares for a rally to the $20 mark.
Bitcoin’s (BTC) price continues to fluctuate, despite occasional
surges. The price of Axie Infinity (AXS) has been difficult to
break above $15, but it could be set to make the difference.(Data
from Binance) Related Reading: Bitcoin (BTC) Must Make It Past This
Threshold To Bounce Back Axie Infinity (AXS) Price Analysis On The
Weekly Chart AXS’s price has dropped from $70 to $10, and it
is even struggling to stay afloat during the bear season. The price
of AXS recently showed a glimmer of hope, rising from $13 to $15 as
more buyers purchased this coin. AXS price saw a weekly low of $11
before rebounding to $14 before encountering resistance to breaking
above. The price of AXS remains above $13 because it has proven to
be of interest to buyers. AXS has moved from this region to $15 as
the price looks promising, with good volume ahead of the new weekly
close. If AXS continues with this volume on the weekends, we could
see the price of AXS facing its first major resistance at $20.
Weekly resistance for the price of AXS – $20. Weekly support for
the price of AXS – $13. Price Analysis Of AXS On The Daily (1D)
Chart After falling to a daily low of $13, the price of AXS on the
daily chart bounced off this area as it formed good support; the
price rallied to the $15 region with a good volume of buyers ahead
of the daily and weekly closes. For AXS to break above the current
resistance level of $16, the price must maintain its bullish
structure with more buy orders. AXS is currently trading $15 below
the 50 and 200 Exponential Moving Averages (EMA). Prices at $16 and
$30, corresponding to the 50 and 200 EMA, will continue to keep AXS
from rising further. Daily (1D) resistance for the AXS price – $16,
$30. Daily (1D) support for the AXS price – $13. Price Analysis Of
AXS On The One Four-Hourly (4H) Chart The price of AXS in the 4H
timeframe has continued to look bullish after bouncing off from the
support of $13.5 as the price rallied to $15. AXS needs to continue
with its bullish momentum as it faces its major resistance at
$16.6; this price corresponds to the 50% Fibonacci retracement mark
acting as resistance for AXS’s price. If the price of AXS breaks
above this resistance of $16.6 with a convincing volume, we could
see the price of AXS rally to $20. The Relative Strength Index
(RSI) for 1INCH on the 4H chart is above 50, indicating buy order
volume for the 1INCH price. Four-Hourly (1H) resistance for the AXS
price – $16.5. Four-Hourly (1H) support for the AXS price – $13.5.
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