The $13.123 resistance has been a major price limit since the middle of September. Axie Infinity had been trending downwards since the 10th of September until bullish support hindered the price from falling any further and made the market range at the $12.427 price level. The expectation, as the buyers are becoming stronger, was that the price would break out in an upward way. However, at the end of the consolidation period on the 5th of October, the price breaks in a downward direction instead.
Axie Infinity Market Price Statistic:
- AXS/USD price now: $8.682
- AXS/USD market cap: $864,443,388
- AXS/USD circulating supply: 96,842,452.84
- AXS/USD total supply: 270,000,000
- AXS/USD coin market ranking: #54
- Resistance: $8.500, $8.000, $7.500
- Support: $10.000, $10.500, $11.000
Axie Infinity Market Price Analysis: The Indicators’ Point of View
From the 15th to the 17th of October, the buyers tried to salvage the price from the downward slide, but the sellers had the upper hand. The three consecutive bearish candles that appeared to represent the 19th to the 21st day of October show massive selling of the crypto. On those days, we can hardly see any bullish activities in the market. That means the number of people buying the market is fewer in number. However, at this time, the bearish move may be coming to an end as the indicators are measuring in the oversold region. As the price of the crypto is been sold below its normal value, an upward price correction may take place soon.
AXS/USD 4-Hour Chart Outlook
So far into the day, the four-chart have recorded two sessions in which sellers fully had control. One can hardly see any bullish activities in the first two trading sessions. But in the third session, bullish activities can be seen. And the bullish activities may just be the result of price correction from the oversold territory.
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