- The rally may leap past $60, putting pressure on the critical barrier at $60.
- The $45 level may be tested if a significant negative trend develops.
At regular periods, the Axie Infinity price has shown massive bullish momentum. However, as the AXS price hit a certain resistance level, it dropped dramatically, causing massive selling pressure. The price may fall to lower support shortly if these circumstances persist. In the short term, a significant dip might stifle the rise, but the asset is highly optimistic in the long term. Moreover, the crypto market has rebounded with Bitcoin and Ethereum trading in green.
Bullish Momentum Likely to Continue
AXS’s price had fallen as low as $46, but it quickly rebounded, igniting a 36% rally. However, the AXS attempted to break past the $55.11 resistance and finally was able to clear past and is now trading at $56.11 before going all the way up to the $61 mark. The next major hurdle, at $62, maybe easily overcome if buyers gather in more significant numbers. Bulls may be put to the test, which might lead to a bearish turn.
To begin with, there was a sound consolidation of the asset’s value. This was a necessary step in the right direction to continue the rally’s momentum. And to achieve that, the AXS price must first pass a few significant hurdles. Resistance in the area was at $55, with the next resistance level at $59. At this point, the rally may leap past $60, putting pressure on the critical barrier at $60. According to CoinMarketCap, the Axie Infinity price today is $55.59 USD with a 24-hour trading volume of $752,575,801 USD. Axie Infinity is up 2.21% in the last 24 hours.
As a whole, the AXS price might rise by as much as 40%. The bears will lose their gains unless the price holds over $51.48. The $45 level may be tested if a significant negative trend develops. However, it is possible that the trend of a downtrend would finally provide a lower bottom, which will invalidate all optimistic possibilities.
