Axie Infinity is a blockchain-based trading and battling game in which you can collect, breed, raise, battle, and trade NFT token-based creatures known as Axies. Anyway, after the super upward wave of AXS finished, it entered into a correction, a long one. Now, it seems AXS is trying to break the downtrend line. If successful, the next impulse wave might have begun.
AXSUSD is testing now the 1D MA50, which is sitting a little under the top of the prolonged Channel Down pattern that began at the start of the year. The 1D technical outlook is neutral (RSI = 46.158, MACD = -0.240, ADX = 38.786) meaning that a crossing over the top of the Channel Down will turn the trend bullish but as long as the price stays inside it, it is...
Axis has been ranging and consolidating for over 6 months now and has been making some bullish high volume moves lately. It could still drop another dollar to previous lows and be bullish from there; but I anticipate it making a higher low before then. BTC looks like FWB:25K support, so that could help fuel an alt rally.
First target in the $9-10 range; but...
We closed a large Long trade of 56% gains with #AXS yesterday, it was a good day - and this wasn't even the best trade of the day! :)
Coming off the back of that success we've got a good Sell signal from Crypto Tipster v2, price tested and was rejected by this descending trend line and there's a reasonable gap for the price to fall until recent support levels are...
AXSUSD (Daily Timeframe)
A medium probability, entry signal to go SHORT will be given with the downward break of 7.80 after the market found resistance at 9.85. Only the upward break of 9.85 would cancel the bearish scenario.
Stop loss: 9.85
Take profit 1: 5.05
Take profit 2: 3.05
Strategy: Bearish wave We2
- $AXS has no revenue to validate its FDV anymore, tokens still unlocking, narratives rotating.
- Continuous range to range breakdown vs USD and vs BTC, extreme weakness.
... waiting for closes under $10.2 for short-entry and nuke if it comes.
AXSUSDT Long ! I suggest spot because it has some very aggressive retracements that could get you stopped out from your position. So spot AXS with targets from 10 upto 14 !
To confirm our strong buy bias we need to see first a breakout of resistance as highlighted in the graphic.
Ichimoku Cloud breakout incoming in the coming days! Wait for all lines pointing...
If it were to break upwards from its bearflag like we have seen other cryptos in a similar pattern do recently such as solana its measured move breakout target is over 6x! No guarantee it will though and often times after several cryptos have already hit their break out targets the alt coins that are lagging behind don’t always hit their full targets. A correction...
$AXS back @ support & harder to call it this time
Fully diluted still pretty bad
#AXS longer term not good
Weekly it's oversold though
We did say this was likely not going to be top dog in future, could get nice bumps here & there
#metaverse #altcoin #crypto #NFT