The Axie Infinity token has seen a price increase of 5.43% on the day. Although the increase is modest, it has propelled the token to the second spot on the top crypto movers list for the day. Let’s examine how the market may perform in the near term.
AXS Statistics
Current Price: $3.47
Market Capitalization: $556.15M
Circulating Supply: 161.37M
Total Supply: 270M
CoinMarketCap Rank: 117
Key Price Levels
Resistance: $4.00, $4.50, $5.00
Support: $3.25, $3.00, $2.50
Axie Infinity Eyes the $5.00 Price Level
The AXS token has shown significant recovery in recent sessions. The last price candle on the token’s daily chart appears green, indicating upward movement toward the $3.50 price threshold. However, the same candle shows a slight contraction downward, suggesting that bearish pressure is acting against the upward trend during the session.
Technically, this implies that while some resistance is present, price action remains above the middle band of the Bollinger Bands and is hugging the upper band. Additionally, the Moving Average Convergence Divergence (MACD) indicator lines continue to rise above the indicator’s equilibrium level, with histogram bars standing tall and green. This indicates a potential continuation of the upward trend.
AXS Price Action Stays Above Key Levels
Looking at the 4-hour Axie Infinity market chart, price action has slightly retraced but continues to trade above the upper band of the Bollinger Bands. This remains true despite the minor downward correction. Likewise, the MACD indicator lines recently formed a bullish crossover above the equilibrium level, confirming that bullish momentum remains strong.
The MACD histogram bars are still solid green and progressively increasing in height. Therefore, traders may target the $3.50 and $4.00 levels, as price action shows a high probability of reaching these marks soon.
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