Axie Infinity It has become one of the popular crypto assets of recent times. Axie Infinity, Ethereum It is an NFT-based online video game developed by Vietnamese studio Sky Mavis, using AXS and SLP-based cryptocurrency, and is the most expensive NFT collection as of May 2021. But could Axie Infinity be starting to lose its power? Consequently AXS What key support level is it trying to hold on to? All the details are in the rest of our news.
Axie Infinity has recently gone downhill. While this decline was interpreted as a sign of weakness by some members of the community, it was interpreted as a buying opportunity by some members.
Looking to test Senkou Span B (strongest support), AXS is quite likely to show a move below Kijun-Sen (baseline) on this path.
The Axie Infinity price has not shown much change after hitting an all-time high on October 4. Falling below Tenkan-Sen (return line), AXS, on the other hand, managed to stay above Kijun-Sen (base line) and caught a support against this level in the last two days.
AXS price seems to be entering a consolidation process and is trying to find space that will create a buying opportunity for its future investors.
Analysts, examining the Axie Infinity price with the Kinko Hyo system, determined that AXS is approaching an important time cycle. The Kumo Twist (where Senkou Span A intersects above/below) will take place on October 15 according to this chart.
One of the phenomena of the Ichimoku system is that an AXS’s vehicle is more likely to find major or minor ups and downs near the Kumo Twist, which can be observed especially if a strong trend has occurred prior to that date.
If AXS price experiences a bearish temporary move, that means Kijun-Sen is likely to break out at $1.06. The most important support level below $106 is according to the Ichimoku system: Senkou Span B will be at $70. However, the Kumo Twist area represents the weakest and thinnest area of this cloud. Therefore, buyers need to be cautious in areas where AXS is near the $70 levels, especially if it is trading near the Kumo Twist. There is a threat that the price could decline along the Kumo Twist and rally to the $50 range of support.
Kijun-Sen in AXS is very flat and this represents the challenge of keeping the price down. Bulls will want to watch for a move that places Axie Infinity price above Tenkan-Sen as this could trigger another rally that will make Axie Infinity price another move to its all-time highs, possibly $200.