Home Axie Axie Infinity Price Might Fall Sharply

Axie Infinity Price Might Fall Sharply

You can play a game called Axie Infinity, which is based on the blockchain.

Why Axie Infinity Price Could be Headed for a Steep Correction iBase Trading.
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You can play a game called Axie Infinity, which is based on the blockchain. It has a few changes and twists that are based on the popular Pokémon games. In the game Axie Infinity, the goal is to breed, raise, and fight cute animals that you like. An example of this is this game, which shows how the worlds of gaming and cryptocurrency can work together.

With the emergence of a bearish chart pattern, which suggests a 31 percent decrease in the price of Axie Infinity, the cryptocurrency’s price has teetered on the precipice of collapse. A break below the important support level of $95.24 would put the bulls in serious difficulty in the near term. Thus, bears must keep a close eye on the market.


Axie Price Drop Prediction

When it comes to Axie Infinity pricing, the first line of defense is the low point of December 4 at $98.30. This is the price at which the stock was purchased. If this support area is shattered, AXS may probably go much more profound.

In any case, a break below the support mentioned above level would open the door to a 31 percent loss, with the bears aiming for $65.96 as their next target.

The price of Axie Infinity may retest significant lines of defense before falling into the bleak objective range. As of September 6, the stock’s high of $85.24 may serve as a solid support level, with further resistance at the 127.2 percent level of $79.58, which is a major resistance level.

It is possible that Axie Infinity bears may gain further ground at the September 9 high of $72.28 before trying to drive prices down below the bears’ bleak target of $65.96.

Despite the headwind mentioned above, the price of Axie Infinity may be able to reach $110.19, the 61.8 percent. AXS may try to achieve the 50% retracement level at $115.71 before aiming for the 100 four-hour simple moving average (SMA) at $118.87.

To The Point

As a result of forming a negative trend pattern, the price of Axie Infinity has a 31% risk of further decline. The stock might go as low as $65.96 if AXS falls below the $95.41 resistance level. Furthermore, in order to disprove the bearish picture, the bulls must seek to recapture $105.39.

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Jane De Leon is a news writer covering all things related to DeFi and NFTs. In the past, she has worked for a well-known Business Newspaper. She originally began investing in Bitcoin after hearing about it from her brother and hasn’t looked back since.