Is It Too Late to Buy Axie Infinity? AXS Price Rockets Up 35% as the Latest Meme Coin Prepares to Launch

Axie Infinity Price Prediction

AXS has established a series of key resistance levels, with immediate resistance at $10.41, followed by higher thresholds at $11.37 and $12.01. Conversely, the cryptocurrency finds immediate support at $9.09, with additional support levels at $8.54 and $8.06, providing crucial buffers against potential downward trends.

🚀 #AxieInfinity (AXS) showcases dynamic market movement! 📈 Trading near $9.73 with key resistances ahead. RSI at 81 signals strong buying trend, but caution advised. 📊Bullish above $9.70 with eyes set on surpassing $10.41. Stay tuned for more updates! #Crypto #TradingTrends 🌟

— Arslan Ali (@forex_arslan) December 25, 2023

The technical analysis reveals an intriguing picture. The Relative Strength Index (RSI), a pivotal indicator of market sentiment, is currently at an elevated level of 81.

This suggests that AXS is in an overbought condition, indicating a strong buying trend but also signaling caution for potential reversals.

Moreover, AXS’s price is comfortably situated above the 50-Day Exponential Moving Average (EMA) of $6.86, reinforcing a bullish trend in the short term.

Axie Infinity Price Chart
Axie Infinity Price Chart – Source: Tradingview

The chart patterns for Axie Infinity are particularly telling. The presence of two bullish engulfing candles on the daily timeframe suggests a strong buying interest.

This pattern, combined with the likelihood of targeting a 261.8% Fibonacci extension level, underscores the potential for further upward momentum.

In summary, the overall trend for Axie Infinity is bullish above the critical pivot point of $9.70. As we move forward, market watchers and investors alike anticipate that AXS will test and potentially surpass its immediate resistance levels.

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