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During the current slump, Axie Infinity was one of the most impacted tokens. The coin is now trading for roughly 56.9% less than its all-time high of $164.90, which it reached on the first week of November 2021. The coin has been on a steady downturn for a few months, but it now appears to have reached its limit.

AXS New Low

AXS hit a new low of $65.12 on January 10th. This price was in the demand zone, ranging from $58.22 to $69.22. The price could attract traders who sought to profit on the downturn, signaling an uptrend for the coin.

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At higher levels, the coin has already shown signs of breaking through. The uptrend has already begun to shape, with the coin reaching $74.81 on January 19. If AXS maintains its current trajectory, traders should expect an upswing towards the $95.07 weekly barrier mark.

Screengrab Courtesy of Crypto TD via Youtube

Axie Uptrend Prediction

  • If AXS breaks out to this level, it will be in a 30% rally, possibly signaling the end of its short-term bulls. The next level of resistance is $107.23, which may bring the coin’s overall gains to 47 percent. Such levels, however, could be reached if the bitcoin industry as a whole shows support.
  • 124.73 dollars is the highest degree of resistance. If AXS reaches these levels, a sell-off could occur, as this is the point at which about 700 addresses holding the token will break even. Furthermore, an examination of these procedures reveals that short-term traders who purchased AXS in the previous three months had lost money.

Because the danger of liquidation is low when most short-term traders are losing, long-term traders tend to accumulate more. AXS might make significant gains if long-term traders accumulate more, and the resistance levels listed above could be breached.

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