Axie Infinity has shown more price resilience than most alts during the last fourteen days. The coin held on to the $60 support most of the time before it broke the support five days ago. Now, AXS is back above the support and retested $70 a few hours to the time of writing.
Axie Infinity About Pick Up Momentum
The law of demand and supply still play a major role in the price of any commodity. Technical analysis suggests that the coin is on the verge of another breakout. The Relative Strength Index shows the increase in buying pressure as the buyers gear up to propel Axie Infinity to a new high. We notice the rapid surge in RSI as it progressed from 31 to 51 in four days.
The Moving Average Convergence Divergence (MACD) is about coming out of the bearish dominance as we see the gradual reduction in the histogram. The lines are about converging to signify the start of an upswing. Here are key levels to watch.
AXS/USD
The AXS/USD pair is trading above its pivot point as of this time. This is an indication that the coin is currently bullish and may continue flipping subsequent resistance using the PP in its support. The first critical resistance AXS will face is at $76. This obstacle is a tough one as the pair has contended with it more times – having more failure in flipping it than success.
The coin is sure to break the resistance as buying increases. We may see Axie infinity face another intense struggle at $80. One of the goals of the bulls is to see AXS surge to its all-time high and surpass it. The toughest struggle yet is identified by the Pivot Point Standard (PPS) at $93 as it is the first pivot resistance.
The current base for all the attacks on resistance is the $60 mark. A flip of this critical support may result in the AXS/USD pair dipping as low as $50 as recent price actions suggest.
