Axie Infinity (AXS), like most different metaverse and blockchain gaming tokens, has been falling sharply in the previous couple of weeks or so. Nonetheless, we’re beginning to see some value consolidation. It appears the downtrend is stalling at the least for now. However does this counsel a development reversal is coming? We’ll analyze this under however first, some highlights:
Axie Infinity (AXS) is basically buying and selling sideways in the meanwhile, holding on to its sturdy assist zone of $48.
On the time of writing, AXS was buying and selling at $45, down round 5% in 24-hour intraday buying and selling.
AXS has been within the bear marketplace for most components of January and value consolidation could possibly be an indication a development reversal is close to.
Knowledge Supply: Tradingview.com
Axie Infinity (AXS) – Worth prediction and evaluation
From our evaluation, Axie Infinity (AXS) began its downward development at the beginning of November 2021. There have been just a few rallies in between however the common development has all the time been downwards.
The 2022 crypto crash did nothing to make the state of affairs higher. As most crypto belongings fell, metaverse tokens like AXS had been hit arduous. However in current days, the value motion seems to have stalled.
AXS is discovering sturdy assist at $48, and if it may well preserve buying and selling above this threshold within the coming days, then there could possibly be an actual development reversal right here. But when bulls will not be in a position to maintain the value at $48, then we’re prone to see extra weak spot on AXS within the close to time period.
Why shopping for Axie Infinity (AXS) continues to be a good suggestion
Regardless of the bullish development over the previous couple of weeks, AXS nonetheless stays a really respectable asset. Metaverse and blockchain tokens are anticipated to be large. Whereas we count on extra cash to come back out, by advantage of being a pioneer, AXS stands an enormous probability of delivering a number of worth for buyers sooner or later.