The post Can AXS Crypto Exhibit Tremendous Growth? appeared on BitcoinEthereumNews.com.

Axie Infinity has shown a wonderful price movement so far on the daily chart. The last rally was from $4 to $11 from the last week of October to the last week of December 2023, which is a 170% gain. $11 turned out to be a supply zone for AXS, from where it plunged into a wedge, its status at press time. On Feb 11th Axie Infinity crypto has indicated a sign of turnaround as the price rose from a key support level of around $6.85 and broke out of the wedge in a rally. The crypto could be primed for a phenomenal rally, as it accumulates power to break the resistance level and zoom to new highs. Can Axie Infinity Reach The $10 Mark? Source: AXS/USD: COINBASE.1.D. by TradingView At the time of publishing, the AXS crypto faced a possibly temporary setback – it failed to breach the 20, and 50-Day EMA levels on the daily chart. This indicates that buyers are still favorable on the upside and show bullishness for upcoming sessions. Similarly, in the past 24 hours, the trading volume on all major exchanges combinedly shows $96.91 Million and the current market price is $7.68 with an intraday decline of 5.87%. The asset is exhibiting its rising capacity as it is trying hard to hold above major trend EMAs. Contingent on the buyers’ surge, the price could rise abruptly to reach higher targetsl. Meanwhile, other technical tools such as MACD, highlight bullishness as it is in a bullish territory and above the zero line. MACD is at 0.17, the signal line is at 0.10, and the histogram is at 0.06. On top of that, the price structure looks very similar to a bullish pattern known as a falling wedge. As per this structure, the breakout could stretch…

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Filed under: News - @ February 21, 2024 8:28 pm