Axie Infinity's all time wave structure suggests that the NFT based video game is due for a major run. Based on the science of Elliott Wave Theory, I believe AXS has one of the cleanest and perhaps most undeniable setups.
Can a 11000% increase in value really manifest?
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Axie Infinity (AXSUSD).
AXS price could drop another 50% to the $2.50 range or possibly lower. Crypto gaming has feel apart as much as DeFi and NFTs, so I am concerned that more drop is coming.
The chart is self-explanatory. Included in the chart: Trend line, Support...
Axie Infinity (AXSUSD) broke today above the 1D MA50 (blue trend-line) for the first time since August 18 and continues to trade within the pattern we suggested on our last idea (August 31):
As you see, since the price failed to break above the 1D MA50 at the time, it followed the Jan - April fractal as projected and dropped to our 8.50 target and even...
Even I checked multiple high timeframes I just saw too much important support and resistances near to current zone, but bearish flag pattern is not finished yet which makes me doubt about if bearish trend will finish soon or not, so I think that I need to check closely BOS and CHoCH in order to confirm. Also we can see in chart that squeeze momentum is pointing to bullish.
This is a chart showing the ranges of multiple alts. Most are near the bottom trading range (BTR) and or have had a spring. This is an amazing R/R opportunity provided we see a minor sign of strength (SoS) off the low. Ideally, we want a steady grind above the top trading range (TTR) with a health consolidation of support. Flipping the top trading range line as...
AXSUSD (4H Timeframe)
The market is in a downtrend and we are waiting for an entry signal to go SHORT below the 11.64 support level. Only the upward break of 12.93 would cancel the bearish scenario.
Stop loss: 12.93
Take profit 1: 10.87
Take profit 2: 9.59
Strategy: Bearish breakout
$AXS was a coin that hit peak hype and coincidentally has some of the worst tokenomics. $ATOM on the other hand _might_ be forming to be a winner in the next cycle. Simple pair trade, shorting the past hype, longing the future hype and avoiding the crab bites. Similar to SAMA Long below ( + $SOL , $MANA)
Spread trade on narratives and capital rotations:
- Long Solana $SOL & Cosmos $ATOM
- Short Axie Infinity $AXS & Decentraland $MANA
Just playing into intra-cycle shifts whilst trading the orderblocks that seemingly are respected. Seeking to avoid trading the chop on single coins, opting instead to trade one narrative vs another — in this case; trending L1's vs...
Axie Infinity (AXSUSD) has been consolidating below the 1D MA50 (blue trend-line) since August 19 2022. This is so far a similar trading sequence to the fractal of April 02 - April 24, where the price dropped aggressively initially before having the consolidation that kick-started the sell-off of April - May.
The current Support as in April, is the Higher Lows...
I wouldn't dare buy this now. only over 14,2 or lower.
Rejection is continuous and persistent with Tons of Resistance at 13.88 13.93 and 14-14.03
I am short.. just my humble opinion here.
With Mt Gox fears being valid (nobody knows for sure how and when the event will take place) and after Powel's gloomy projections/tone we need to be worried.
Let's be aware...
BITCOIN AND CRYPTO MIGHT PUMP ON GOOD USA DATA:
Weekends have been very weak the past months but this could change. After all, crypto adoption is a trend. Not convinced?
well here it is: Coinbase and BlackRock to create new access points for institutional crypto adoption by connecting Coinbase Prime and Aladdin
AXIE INFINITY’S AXS TOKEN IS...
The following are machine translations:
In the weekly chart, the weekly line is currently stabilizing and rebounding, and the volume is gradually increasing. Since its launch last year, it has been rising in waves, and then it has been bearish all the way. The weekly line has stopped falling and closed continuously, and it is expected to bottom out and...
Another breakout, this time on AXS.
Let's see if the price can go higher now.
News: Axie Infinity Announces Launch of New Marketplace Upgrade
Axie Infinity will deploy an upgrade to Axie Marketplace this August.
The upgrade will support NFT runes and charms and use ERC 1155 standard.
Due to this upgrade, all marketplace listings will be taken down, and...
AXSUSD (Daily Timeframe)
Waiting for the upward break of 18.60 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 12.30 would cancel the bullish scenario.
Stop loss: 12.30
Take profit 1: 22.50
Take profit 2: 28.80
Strategy: Bullish reversal
AXS AXIE INFINITY at crossroads: Sitting on a massive Support that can lead to a 48% rebound...or can be lost and lead to a 51% further decline
Which one is more probable?
What we will do is follow our chart and the price and chase it in either direction.
Welcome to day-trading.