- Axie infinity has recently seen a spike in the users which can mean a strong upside trend
- Technical indicators of AXS suggests a consolidated trend in price.It is currently trading near $11
Axie Infinity is a blockchain-based game that combines elements of collectible card games, strategy games, and virtual pet simulations. The Axie are unique, digital creatures that exist on the Ethereum blockchain and are owned by the players.The game has a robust ecosystem, where players can earn rewards by participating in battles, breeding Axie, and contributing to the community through various other activities. These rewards are in the form of the in-game currency, SLP, which can be traded for Ethereum or used to purchase other in-game items.One of the unique features of Axie Infinity is its approach to player-driven economies, where players can not only trade Axies and SLP, but also participate in governance through staking and voting. This allows players to have a direct say in the direction and future of the game. Axie infinity has seen an increase in the user which can see a strong rise in the price in the future.
AXS is currently ranked 49th in the cryptoverse and has a market cap of $1.1 Billion.Volume of the asset price has seen a drop of more than 33% in the intraday session. Volume to market cap ratio of the AXS suggests a consolidated trend in price.
Are Bulls Of AXS Ready?
The weekly technical chart of the AXS suggests a consolidated trend in price.On the daily chart it is trading near the value of $11 with a gain of 1% in the intraday session.It is currently in a consolidated trend and can see a new high in the future.Resistance of the AXS can be seen near $18.Meanwhile the support of the asset price can be seen near $6.It is currently trading above the 50 and 100 Daily Moving Average.There can be a positive crossover which can push the asset price to a new high.
RSI of the asset price is currently near 55 suggesting its presence in the oversold zone. There is a downside slope suggesting its presence in the oversold zone.
Conclusion
Axie Infinity is currently seeing a growth in the user base which can push the asset price. Various analysts are expecting a strong growth in the future.
Technical Levels
Major Support:$8
Major Resistance:$16
