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, Volume, Support and Resistance.
Axie Infinity (AXS) technical analysis:
Trade setup: Bullish breakout from Descending Triangle was confirmed with a breakout above $10 and 200-day moving average Upside potential to $15 resistance. Pullback near $10 support could be a swing entry opportunity. The recent big move comes ahead of a negative catalyst in form of an upcoming token unlock. (set a price alert).
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $10 (previous resistance), then $6. The nearest Resistance Zone is $15, then $20.
See live Axie Infinity (AXS) chart here
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