The Axie Infinity price jumped from the 3-day demand zone and recorded rises up to $ 69. Investors expect AXS to bounce out of this zone and retest the weekly resistance barrier of $94. Experts have discussed this scenario.
Important Supports and Resistors at the AXS Price
The popular metaverse token Axie Infinity has undergone a steep correction, falling below a very significant support level. This decline seems to have ended when AXS started to bounce up from another critical region. The Axie Infinity price may be preparing for a bullish rally.
The AXS price fell by 33% after rising above the weekly support level of $ 94. This downward movement has turned the region in question into a resistance barrier. However, a 3-day demand zone extending to $69 at $58 swept away the incoming sales pressure.
As a result, if AXS it recorded a 15% rise. Short-term investors can turn to a long-term plan in the current position or wait for the region to be retested. the 200-day MA at $85 seems to be the only obstacle on the way. Cleaning this place can move the AXS price to $ 94, which is the weekly resistance barrier. This scenario will account for an increase of 28% and will allow investors to make a profit.
The Fall Scenario
Although the bullish outlook looks solid, any downward movement of Bitcoin could change things at AXS. The bullish thesis may be invalidated if AXS makes a one-day close below $58, which is the lower limit of the 3-day demand zone. This development may lead to the fact that the AXS price will fall by another 5% and turn to the $ 56 base support.
Along with the popularity in the field of the Metaverse, the AXS, it is described as one of the most important projects in the industry. Axie Infinity, the largest in the Metaverse coins category by market value, is trading at $76 as of the time of this writing.