- Bullish sentiment is predominant in the Axie Infinity (AXS) market..
- A resistance level for AXS can be found at $8.64.
- The price of AXS may continue to rise in the near future.
Bulls in Axie Infinity (AXS) have won the last week, and prices have been steadily rising. The digital currency encountered resistance in the last 24 hours after reaching an intra-week high of $9.43. AXS was trading at $8.39 as of press time, up 3.99% in the previous 24 hours.
Read CRYPTONEWSLAND on
google news
Market capitalization and 24-hour trading volume both increased by 3.99% to $844,208,129 and 79.79% to $170,548,838, respectively, in line with this bullish trend. High trading volume indicates the presence of buying pressure, and further bullish momentum is thus expected as investor demand drives the stock to ever-higher prices.
The widening of the Bollinger Bands on the 24-hour price chart contributes to the strengthening of the bullish sentiment. The upper bollinger band is currently located at 8.88, and the lower band is located at 5.66. The broadening of the BB not only indicates that there is high market volatility, but it also indicates that there are more buyers in the market than there are sellers.
In addition, the Moving Average Convergence Divergence (MACD) line is located above the signal line, which indicates that bullish sentiment may persist in the near future. With a reading of 0.16, the trajectory histogram is in the positive region, which indicates that bull supremacy has ruled the Axie Infinity (AXS) market, and as a result, it is possible that this movement might continue in the foreseeable future.
Since the Average Directional Index (ADX) is heading in the direction of the north, this indicates that the bullish strength may continue to be present in the short run of the AXS price. With a reading of 48.44, AXS is also above the “25” region, which is considered to be a neutral zone. This means that buyers have been in charge of the market, and an investor could expect the price to go up again soon.
The Williams Percent Range (William%R) indicator currently has readings of -47.64, which shows that bulls are pushing the AXS price higher as the Willi %R is moving towards “0,” indicating that bulls have taken control of the market. As a result, investors and traders may expect to see this bullish trend continue in the near future.
In the 24-hour price analysis of AXS, the Relative Strength Index (RSI) is moving above the signal line, indicating that bullish momentum might likely continue and the AXS price might likely reach new highs. The current value of the Relative Strength Index (RSI) is 58.71, which indicates that buying and selling pressures are equal and balanced, despite the fact that buyer pressure appears to be greater than seller pressure given the fact that the RSI line is pointing north.
Lastly, the technical indicators suggest that the bullish momentum is likely to continue, which makes it more likely that the price of Axie Infinity will reach new all-time highs.
Read Also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
