Axie Infinity (AXS) Analysis

2 min read May 18, 2024

Richard Fetyko

Axie Infinity (AXS) Analysis

In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Vo lume, Support and Resistance.

Axie Infinity (AXS) technical analysis:

Trade setup: Price is in a downtrend. It broke out of a Channel Down pattern, however, there are two resistance areas just above it: 200-day moving average (~$8) and horizontal resistance ($9). (set a price alert).

Pattern: Price was trading in a Channel Down pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Learn to trade chart patterns in Lesson 8.

Trend: Neutral on Short-Term basis and Downtrend on Medium- and Long-Term basis.

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).

Support and Resistance: Nearest Support Zone is $7.0, then $5.5. The nearest Resistance Zone is $9.0 (previous support), then $11.5, and $14.0.

See live Axie Infinity (AXS) chart here

Read more curated charts of coins with technical analyses.