AXS Technical Analysis – September 2021
In the last 30 days, AXS initially increased by40%, reaching a high of $94.5. However, its price was followed by a price decrease of 40%. The price was in consolidation after that, but it then had another decrease of 32%. After that, the price has been attempting a rebound, but it found resistance at $71.4 recently.
In the last 7 days, AXS increased by 48%. This increase faced resistance at $71, where it was also previously tested. The double top was respected, as the price declined by 18% in the following days. It then found support at $58.3.
In the intraday chart, AXS has been highly volatile, and it has been increasing. In the last hours, the price increased by 6.7% but is now facing a pullback. Nonetheless, the short-term trend of AXS is bullish.
Due to the downtrend, the moving average moved above the price of AXS, indicating that the price could keep further decreasing. However, due to the recent upward movement of AXS, the MA line now coincides with the price of AXS. The MA line is acting as resistance.
The 9-day EMA is now slightly below the price due to the recent increase in the price. This might suggest that the trend has now reversed and that the EMA line can act as support in the coming days.
Relative Strength Index
After being close to the oversold region, the RSI is now fairly average at around 50. This indicates that the price can either increase or decrease in the coming days. The same can be said about the RSI of a 4-hour chart.
The MACD line has been below the signal line and below the baseline for quite some time. However, recently the MACD line and the signal line in a daily chart have intersected, indicating that the trend is about to shift and that the price might increase in the coming days. In a 4-hour chart, the MACD line is still slightly below the signal line, but they are converging.
Fear & Greed
The fear and greed indicator suggests that the current emotion for AXS traders is greed, indicating that AXS traders are now bullish.
The Fibonacci retracement levels from the recent downtrend suggest that the 38.2% level has been respected several times, and the price aimed for one of the extension levels as a result.
In a 30-minute chart, the price has retraced to the 50% level. While this is not a natural Fibonacci level, it has proven to be effective.
Price Prediction AXS – September 2021
Based on this technical analysis of Axie Infinity, we might see its price increase again in the coming hours. However, if it does not find support at the projected structures and fails to break resistance at $71.4, we might see AXS go further down. Nonetheless, if resistance is broken, we might see AXS go close to $84, other things equal.
Latest News for AXS – Affecting Price
Axie Infinity has become one of the best ecosystems for NFTs. As NFTs have become one of the most lucrative assets of 2021, this can play a huge role in the future price of AXS. If NFTs continue to grow at the same rate, then we could expect the price of AXS to surge upwards in the longer run.