The price of Axie Infinity from the first hours of trading manifested a great bullish momentum at regular intervals. However, upon reaching a specific resistance, the price of AXS crashed sharply, creating huge selling pressure. While the price is expected to break down to lower support under these conditions, it may happen shortly. However, a noticeable drop may hinder the rally for a while, but on the longer time frame, the asset is quite bullish.
AXS price had dipped below $46 a couple of days earlier and quickly rebounded, causing a 36% surge. However, the AXS tried to break through the important resistance around $55.11 but is currently falling a bit. If, in some cases, buyers accumulate higher volume, then the next barrier of $59.06 can be significantly breached. This can test the strength of the bull, which can result in a bearish reversal.
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AXS price in the midst of the recent surge had tried to swing high, breaking through the fundamental price zones. However, quickly after reaching these levels. The asset started with a healthy consolidation. This was quite necessary to maintain the strength of the rally which can give a noticeable push to the north. And in doing so, the price of AXS must break through some crucial levels. The local resistance is at $55 and the next one at $59. Once these levels are reached, the rally can go above $60, which can head towards crucial resistance.
Collectively, the price of AXS may rise with a whopping 40% increase. But if the price fails to sustain above $51.48, the bears may lose their profits. And in case a noticeable downtrend can test the $45 levels. However, the trend that ignites a downtrend can eventually create a lower reversal low in favor of the bears and invalidate all bullish scenarios.
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This post Axie Infinity is targeting a 25% increase to reach a 3-digit figure soon!
was published first on https://coinpedia.org/price-analysis/axie-infinity-axs-aims-to-a-25-upswing-to-hit-a-3-digit-figure/