Axie Infinity Price Analysis: AXS Coin Trading Interestingly What’s about this Recovery Curve?

• Axie Infinity price is trying to recover in an interesting pattern over the daily price chart.
• The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average.
• The pair of AXS/BTC is at 0.0006669 BTC with an intraday gain of 0.50%.

Axie Infinity price is trying to recover through a rounding bottom pattern over the daily price chart. The token has been falling for so long over the chart and now it is showing some ray of hopes to AXS investors. AXS coin price must accumulate more buyers to regain the uptrend momentum. However, the token has been consolidating at the current level making a bottom over the daily price chart.

What is an Axie Infinity Coin?

AXS coin is a Ethereum based token that potentialise the Axie Infinity that is a block based game. In which players can battle and they can also collect and create a digital ecosystem for their pets. AXS investors can get rewards through the game and they can also stake or can participate in the key or crucial activities for authorization of the game.

Axie Infinity price is presently CMP at $13 and has gained 0.595% of its market capitalization in the last 24-hour period. However, trading volume has decreased by 46% in the intraday trading session. This shows that bears are accumulating themselves and are trying to pull the token. Volume to market cap ratio is 0.142.

Source: AXS/USD by TradingView

AXS coin price is trying to gain the uptrend momentum over the daily price chart. Analysts say that AXS may incline by a rounding bottom pattern nover the daily chart. The token must accumulate more buyers in order to gain over the chart. However, volume change can be seen below average and needs to grow for AXS to adapt uptrend momentum. The curve over the daily price chart by the price actio of AXS token signifies the rounding bottom pattern over the daily price chart.

AXS must Recover with Support of Bulls

Source: AXS/USD by TradingView

AXS coin price is trying to retain its uptrend momentum over the daily price chart. AXS rebound is must and it should start gaining through a rounding bottom pattern over the daily chart. Technical indicators suggest the recovery phase of the AXS coin. Relative Strength Index showcases that AXS copin is trying to recover from the oversold territory and is still below neutrality. MACD is about to signal any sign for AXS coin. The MACD line is overlapping the signal line and is about to signal any crossover. AXS investors need to wait for any directional change over the daily price chart. 

Conclusion

Axie Infinity price is trying to recover through a rounding bottom pattern over the daily price chart. The token has been falling for so long over the chart and now it is showing some ray of hopes to AXS investors. The token must accumulate more buyers in order to gain over the chart. However, volume change can be seen below average and needs to grow for AXS to adapt uptrend momentum. Technical indicators suggest the recovery phase of the AXS coin.  The MACD line is overlapping the signal line and is about to signal any crossover. AXS investors need to wait for any directional change over the daily price chart. 

Technical Levels

Support Level: $12.00

Resistance Level: $20.00

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.    

   
Source