Axie Infinity Price On A Tear With 22% Spike In Last 24 Hours – How Long Can This Last?

Christian Encila

2 years ago

3 mins read

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Axie Infinity (AXS), a cryptocurrency with an overall valuation of $964.02 million, is in the midst of a bullish run that enabled it to tally an impressive 22% jump in the last 24 hours.

At the time of writing, according to tracking from Coingecko, the digital asset is changing hands at $8.79 and has managed to increase its value by more than 33% within the previous seven days.

Here’s a quick glance:

AXS has gone up by almost 40% within the last two weeks
Axie Infinity nears the $9 marker
Token is poised for a surge of more than 30% to reclaim the $10 territory

With its current momentum, the crypto has also surged by 39.2% over the last two weeks and has trimmed its monthly loss to just 16.3%.

After being in a steady downfall for six months, Axie Infinity finally found some relief and is poised to make further push to breach the psychological $10 marker.

Technical Indicators Suggest Axie Buyers In Control

Among the various analysis points for the crypto asset, its Relative Strength Index is the most promising one as it shows a significant increase in buying momentum – a situation that usually heralds bullish growth.

Source: TradingView

In addition, the AXS 20 and 50-day Exponential Moving Average (EMA) confirms the thesis for a potential continued surge given the altcoin’s volatility remains at “medium.”

With the current price action, it is most likely that traders will be interested in the asset’s attempt to retest the breached resistance during the next trading sessions which might trigger an increase of as high as 35.8%.

If that happens, Axie Infinity will change hands at $11.8, the lower zone of the set point of resistance for the crypto (the highest of which is $15.4).

However, in the event that the earlier mentioned scenarios don’t unfold, the cryptocurrency might have to revisit its supports levels standing at between $8.3 and $7.5.

Rising NFT Sales Volume Fuels AXS Rally

Cryptoslamp, an NFT industry data aggregator recently shared some information regarding the positive development of the digital asset class’s sales volume going up by almost 10% within the last 24 hours.

During the same time, NFT-focused virtual coins such as ApeCoin (APE), Sandbox (SAND) and Flow (FLOW) witnessed a major uptick in their respective prices.

In addition, it would appear that Axie Infinity has also benefited from a social media post indicating that more than 600 members of the AXS community has gathered to share ideas on how to help shape a good future for the project.

AXS total market cap at $854 million on the daily chart | Featured image: Skip Prichard, Chart: TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.