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Friday, December 2, 2022
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    HomeMarketAxie Infinity (AXS) could bounce back by about 15% despite recent selling...

    Axie Infinity (AXS) could bounce back by about 15% despite recent selling pressure

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    Axie Infinity (AXS) has seen some correction after surging fairly impressively earlier this month. The coin has seen a 50% retracement of its value and is now trying nicely and really in a bear market. However regardless of this, we nonetheless assume there’s actual potential for an honest upside. Listed below are some highlights.

    • In latest days, AXS has bounced off between $45 – $49 after a 50% value retracement.

    • The coin may nevertheless pull again as much as $55 within the close to time period.

    • At press time, AXS was buying and selling at $49, down almost 8% over the past 24 hours.

    Information Supply: Tradingview 

    Axie Infinity (AXS) – The outlook thus far

    It was largely anticipated that in some unspecified time in the future, the crypto market will pull again after surging in February. However a lot of the stoop we’re seeing proper now has largely been triggered by geopolitical tensions in Europe. 

    Axie (AXS) has in consequence, seen a 50% retracement from its early February highs. In the intervening time, the worth motion has been bouncing off between $45 and $48. We don’t assume this can stay the case for lengthy. Actually, we anticipate the coin to check its overhead resistance of $55 within the coming days.

    It will characterize an upswing of round 15% or thereabout. Whereas we don’t see AXS reclaiming its February excessive of $72, bulls will attempt to consolidate above $55 earlier than the subsequent leg up.

    Why it’s best to put Axie Infinity (AXS) in your watchlist

    Metaverse and blockchain gaming tokens delivered insane progress final yr, Axie Infinity included. Whereas most of those tokens have slowed this yr because the broader market continues to wrestle, the metaverse is likely one of the most fun areas of the crypto-verse.

    Apart from, it is only recently when AXS was buying and selling at over $200. It’s not inconceivable that the coin could get there once more.



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