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When looking at the weekly chart, AXS, Axie Infinity’s token, seems to be moving in the green region. With AXS priced at $10.51, it experienced a 0.24% surge in one day, moreover, it also made a 1.03% leap in a week, at the reporting time. However, there is a narrow margin that could decide if the power would remain with the buyers or if it would be with the sellers.
When looking at the four-hour chart, AXS/USDT is currently trading between the 50 EMA and the 200EMA. AXS’s price is currently struggling to stay afloat above the 200 EMA. Moreover, if the 50 EMA crosses 200 EMA and goes below it, there will be a death cross, indicating the start of a bear attack. However, if we look at the charts, AXS narrowly escaped death-cross’s wrath.
Similar to the near-death cross moment, AXS could face a similar event soon. The 200 EMA is also soaring above the Support 1 region and if it lands over there, the price could face a slight fall near the gates of support.
The Relative Strength Index(RSI) is valued at 43.73 which seems it could move into an oversold region soon. Moreover, RSI’s movement points to the depths of the oversold region, which could prove the sentiment is wrong and AXS could fall further into the Support 1 region.
Furthermore, the RSI also shows that it could face the deadly SMA chokehold attack move, thus, forming a death cross. If the death cross happens in RSI, subsequently, AXS would have to fight against the bear’s ultimate CLAW CUTTER move.
However, this could be a small market hiccup and AXS could be protected against the bears with the bull’s green-rising ultimate combo. Traders must be cautious before conducting a trade with AXS, as the price movement could change in an instant.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.