What to know:
- Axie Infinity (AXS) confirms bullish breakout above key resistance, signaling upward momentum supported by rising volume.
- Analysts highlight a long-term accumulation zone, suggesting AXS could build a base for a bullish rally if support holds.
- Long-term projections for Axie Infinity (AXS) remain optimistic, with targets toward $2, $5, and $10 under bullish conditions.
Axie Infinity (AXS) has strengthened its bullish trend after breaking key resistance, though analysts favor a pullback for the AXS price to confirm support. Despite recent consolidation, long-term accumulation remains intact, with market watchers maintaining a positive outlook and targeting further upside if support levels hold.
At the time of writing, AXS is trading at $1.14 with a 24-hour trading volume of $177.73 million and a market capitalization of $198.31 million. Despite the signs of stability over the last 24 hours, the AXS price structure and increasing volume point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Axie Infinity (AXS) Extends Downtrend, Eyes $2.40 Break for Reversal Confirmation
AXS Price Rally Accelerates as Bulls Target Higher Levels
According to the crypto analyst Alpha Crypto Signal, AXS has recorded a strong breakout backed by rising trading volume and renewed bullish momentum.
The rally pushed the cryptocurrency above key resistance levels, drawing increased attention from traders. However, the sharp move has left the AXS price extended from its recent support zone and breakout trendline, making fresh entries less attractive.
Source: Alpha Crypto Signal’s X Post
According to market experts, retracement of the breakout trendline is likely to provide a better play scenario for long positions.
This is because the ability of the AXS price to sustain itself within the fresh support area will confirm the strength of the bullish trend and provide an ideal risk/reward ratio for investors.
AXS Price Eyes $10 Amid Renewed Accumulation Calls
Moreover, another crypto analyst, Crypto Patel, highlighted that the AXS price is currently consolidating after gaining more than 70% from the two-week bullish order block formation that ran between $0.75 and $0.45.
The AXS price had lost almost 50% within the month to reach the level of $0.86. The analyst believes the decline is just meant to bring the token to the long-term accumulation zone and not reverse the trend.
Source: Crypto Patel’s X Post
According to CryptoPatel, the AXS price is still trading within a downtrend channel of multiple years, with strong high time frame demand since the previous liquidity sweep by the sellers has been recovered.
The goal will be accumulation from $0.75 to $0.45, with a two-week close below $0.45 invalidating the trade setup. The long-term price objectives remain $2, $5, and $10.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Axie Infinity (AXS) Stabilizes at Key Support, Eyes $2, $5, $10 Rally
Be the first to comment