Axie Infinity Price Analysis: Will AXS Coin  Recover?

• Axie Infinity (AXS) is currently trading at $5.55 with a dip of -0.70% in the 24 hours.
• The Axie Infinity price is observing an increase of 16.47% in the last 7 days.
• The AXS market capitalization is $641496159.

Trend Evaluation

By evaluating the price data of the AXS coin, it can be said that it is in a downtrend currently. The price inclined by 16.47% in the last seven days and we can say that Axie Infinity performed well last week. From its peak price of $164.90, it fell -96.63% in the last 1 year. The coin demolished the investor’s wealth. The current market sentiments are not good about the coin. No huge volume is present in Axie Infinity. Buyers are not available in the present market scenario and they are also not taking any interest in buying. The market is under the control of the bears.

Axie Infinity (AXS) Technical Analysis

The price of Axie Infinity (AXS) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. There is a possibility that the coin’s value will fall even further in the upcoming week if the seller continues to push the price down. The price has been consolidating near 50 days EMA again which shows that bears are not in the mood to give power to bulls.

The technical indicator MACD is also in the negative zone. The MACD line at -0.45179 and signal line at -0.53774 is below the zero line, suggesting that the MACD is in negative territory and is giving bearish signals.

The current value of RSI is 42.37 points. The 14 SMA line is currently below the median line, around 31.55 points which shows bearish sentiment in the market. The 14 Day SMA line below the median line indicates a bearish trend. The bearish sentiment spreads around the market as the price is currently at an oversold zone.

Volume Analysis

The Axie Infinity (AXS) trading volume of 24 hours is $47156052, with a 20.30% increase in volume. There is a significant boost in the volume of the coin.

Trendline Analysis

The price has respected its significant trendline support, and it is going toward resistance. Breaking the trendline will cause the price to go upwards, and if the price is rejected by the resistance, then it will come back down.

Technical Levels

Support – The current support level of AXS is $27.87

Resistance –The current resistance level of AXS is $43.92.

Conclusion

 AXS  is facing a tough time in the market. The price action suggests that the price may fall more in the upcoming days if it broke its primary trendline support level. AXS prices currently show a pessimistic outlook. Major reliable indicators like EMA, RSI, and MACD give negative signals about the Axie Infinity coin. The fear is growing among investors because of the deficient performance of the coin. The coin does not show any signs of recovery either.

Disclaimer

The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.