The cryptocurrency market is off to a constructive begin this week as the costs of most cryptocurrencies are within the inexperienced area.
The cryptocurrency market is trying to recuperate among the losses recorded final week. The market has added practically 3% to its worth during the last 24 hours, and the whole market cap now stands near the $900 billion mark.
Bitcoin is buying and selling above $19k once more after slipping under that essential stage over the previous few days. Ether is up by greater than 3% within the final 24 hours and presently trades above $1,100 per coin.
AXS, the native token of the Axie Infinity ecosystem, can be buying and selling within the inexperienced zone. AXS has added greater than 4% to its worth during the last 24 hours and presently trades at $14.41 per coin.
The constructive efficiency comes regardless of Axie Infinity reporting a difficulty with its Ronin Bridge over the weekend.
The Axie Infinity staff introduced r on Saturday that it has recognized a deposit challenge with its bridge. The problem causes some deposits from the Ethereum blockchain to develop into caught. In consequence, the funds will not be delivered to the customers’ Ronin wallets however are additionally not misplaced.
Nonetheless, Axie Infinity stated it’s already engaged on the answer and can replace the bridge quickly
We’ve recognized a difficulty with the bridge that causes some deposits from the Ethereum blockchain to develop into caught. In consequence, the funds will not be delivered to your Ronin pockets however will not be misplaced.
— Axie Infinity🦇🔊 (@AxieInfinity) July 2, 2022
Key ranges to look at
The AXS/USD 4-hour chart is impartial as Axie Infinity is overcoming its latest bearish efficiency.
The 14-day RSI of 55 reveals that AXS is not within the oversold area. If the constructive efficiency continues, the RSI might surge greater into the overbought zone.
The MACD line stays under the impartial zone, indicating that the bearish momentum will not be absolutely over.
If the rally continues, AXS might surge previous the primary main resistance stage at $16.15 earlier than the tip of the day. Nonetheless, it might want the assist of the broader market to maneuver above the $18.40 resistance stage within the brief time period.
