Axie Infinity’s AXS Price Looks Strong Daily as It Resurges Near a Key Resistance Level

Following an 11% gain in the past 24 hours, Axie's AXS price looks strong daily as it resurged near a key resistance. Painting a green scenario on the day, it signals a buy and looks ready for a new rally.

After an 11% gain in the last 24 hours, Axie’s (AXS) price looks promising on the daily chart as it signaled a buy and prepared for a new rally.

The late September drops caused a slight decrease in the crypto market this month, but AXS managed to find support after slipping below the $4.4 level last week. The price recovered and gradually gained momentum.

On Tuesday, the crypto briefly lost momentum and experienced a short three-day pullback. However, things took a positive turn again as the price surged to a daily high of $5.4. It retraced from this high due to rejection and reached a trading level of $5.1.

But observing the market structure, AXS appears strong on the daily chart, but the price is still trading in a range-bound after being subjected to a sideways movement two months ago. As the price remains trapped below the $5.5 level, a push above it could confirm a break out of the range.

This might activate a strong market buy as the price rallies. On the flip side, it might resume bearish if the price drops below the $3.8 level. From a technical perspective, more positive actions are to be expected as market sentiment slowly turns bullish.

AXS Key Levels To Watch

Breaking through the immediate $5.55 resistance, the next important level to watch for a buy is $6.5. Above it lies a minor resistance level of $7.7 before reaching the main $8.7 resistance.

The $4.8 level is considered a close support for a pullback. If the price drops below this level, $4.4 is the next support to watch along with the $3.84 level – the lowest price level this year.

Key Resistance Levels: $5.55, $6.5, $8.7

Key Support Levels: $4.8, $4.4, $3.84

This is not trading or investment advice, always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

The statement above serves as a disclaimer and a reminder to conduct thorough research before engaging in any cryptocurrency-related activities. This includes carefully reviewing the whitepaper, code, team, and community involvement.

Any pressing questions can be directed to our team via郵件。 Also, feel free to contribute to the Chainlink Hackathon from October 28th.

The image below depicts velivinki's 123RF image, which was modified using Colorcinch's image effects.