Axie Infinity & Litecoin Price Prediction 2022: When should you buy AXS? Will They Rise in 2022 and Beyond?

During the bearish 3-month period in the crypto market, the leading cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), have lost more than half their value, while other cryptocurrencies, such as  Litecoin and Axie Infinity, have lost around two-thirds of their value. But, on the flip side, this makes them tempting to buy, especially since they have been leaning on some important support zones. Can they reverse from here?

Axie Infinity Daily Chart – The Third Support Level Below $50 Holds

Axie Infinity coin had an impressive rally from the beginning of July last year until early November, increasing from around $10 to $165, even during bearish months in the crypto market. But, as the market turned bearish, AXS began sliding lower, breaking moving averages on the daily chart and at the support levels. Now, AXS/USD has fallen to $45.50 where it has stalled. Previously, this was a decent support/resistance zone.

This support zone is holding for now, although let’s see if it can reverse higher from there, since the GameFi movement keeps expanding. Axie has sold the “Genesis” plot, which is one of the most popular play-to-earn (P2E) crypto games, for around $2.5 million. AXS is also in demand from Ethereum whales who are diversifying their holdings, as WhaleStats reports.

Axie was built on the Ronin chain, which makes it more scalable, and now, as decentralization continues, Axie has launched RON, which is the governance coin for Ronin and the number of wallets interacting with Axie Infinity has increased by 20% recently. So, Axie Infinity is progressing well, which means that the uptrend in the AXS token should resume at some point, once the sentiment improves in the crypto market.

Litecoin Daily Chart Analysis – LTC Sticks to the Support Zone Above $100

The support zone keeps holding, but there’s been no bounce so far

Litecoin made a decent jump in early November, but it continues to slide lower, despite accumulating whale buyers for the longest period since 2017. Litecoin has declined from $300 to below $100 in the last three months. It is now releasing the MimbleWimble upgrade, which will hopefully help improve the sentiment for LTC in the coming months, although that will also depend on the market sentiment.  The upgrade will enable privacy opt-ins for Litecoin.

After two years of development, the Mimblewimble upgrade came through the Extension Block (MWEB) which has been sponsored by the Litecoin Foundation. This will allow Litecoin users to opt in for confidential transactions, which improves the viability of Litecoin, in order to make it more acceptable as an everyday currency. However, for now, it is not showing any signs of life, and it is sticking to the support above $100, suggesting that the decline might resume again soon. If something can’t go up, it will eventually go down, so that’s what’s has been happening to Litecoin, but let’s hope that the support holds now, since this is a major one.