THELOGICALINDIAN - Axie Infinity continues trending advancement with little to no action ahead
Axie Infinity has entered amount analysis mode. Further affairs burden could advance AXS against the abutting cerebral attrition barrier, which sits at $200.
Axie Infinity Hits All-Time High
Buyers are reentering the cryptocurrency markets, and Axie Infinity is benefiting from the momentum. The NFT-based blockchain bold bread hit a new best aerial of $154 afterwards ascent 40% in the aftermost 24 hours.
Over the aftermost week, almost $193 billion has abounding into the space. The abrupt fasten in affairs burden has absolutely afflicted best agenda assets.
For instance, the two better cryptocurrencies by bazaar cap—Bitcoin and Ethereum—have accepted by added than 10% in the aftermost seven days. Other lower cap coins, such as Solana, VeChain, and Theta, accept acquired over 20% in bazaar amount during the aforementioned period.
Several added coins, including Axie Infinity, accept risen to new best highs. The asset has acquired 86 credibility back Sep. 28, which represents a 135% amount increase. AXS is now in amount analysis mode, and added assets could be on the horizon.
Axie Infinity Targets $200
The Tom DeMark (TD) Sequential indicator has auspiciously advancing Axie Infinity’s amount activity in contempo weeks.
On the 12-hour chart, the abstruse basis forecasted that AXS was apprenticed to resume its uptrend as it presented a buy arresting on Sep. 21. The TD additionally flashed a advertise arresting on Oct. 2 that led to a two candlesticks alteration afore added highs.
Now that AXS has broken through the blemish band and is in a blooming four candlesticks, it looks abreast for new best highs. The TD bureaucracy indicates that Axie Infinity could acceleration for addition bristles 12-hour candlesticks afore a advertise arresting emerges. Addition access in affairs burden could advance the asset against the abutting cerebral attrition barrier at $200.
As continued as Axie Infinity continues to authority aloft the TD’s blemish band at $133, the allowance will abide to favor the bulls. However, a 12-hour candlestick abutting beneath this analytical abutment akin could advance to a correction. Under such different circumstances, AXS could dive to $120 or $100 to attending for support.
