Facebook, in a recent announcement, named the roofing company “MetaHe announced that he updated it as ”. This news from the world’s largest social media platform, metaverse assets and caused great increases in their prices. A crypto asset, which reacted positively to this news, gained good momentum in its price after the announcement and passed the $ 140 threshold.
Axie Infinity (AXS) The price had an incredible reaction after the announcement of Facebook’s rebranding as Meta and managed to rise to an unexpected level of $ 155. Overcoming the immediate resistance around the $150 level faster and higher than expected, AXS It can trigger new highs in the price.
Facebook on October 28. Meta The announcement that it was rebranded as a metaverse It was an unequivocal confirmation of their desire to go beyond online social media to create These news triggered a speculative rally between NFT and gaming cryptos, which reportedly took place on the Metaverse.
The most popular metaverse cryptoasset Decentraland (MANA), only between October 28 and October 29 up to 80% managed to record an increase and its market cap increased from $1.44 billion to over $2.08 billion in just 24 hours.
Axie Infinity‘s native token AXS also tried to grab a share of this pie. Axie Infinity, a Pokemon-style “play-to-win” game, is actually a pet training game and does it in a virtual world. used in this world AXS while it rose by as much as 22.5% in a short period of time and rallied above its two-week high of $160. AXS is the currency of the Axie marketplace, which players use to purchase digital pets (in-game NFTS).
Axie Infinity Price Takes a Deep Breath
Although AXS price was at $117 on October 28, it rallied about 39% to $163 on October 29. This rally was not accepted at the $150 level and moved down to $142 levels, which is close to the current level.
Currently trading at $145, AXS, despite being above $140, is showing a bearish trend and correcting its price. Unable to contain the sudden price spikes, the token started to decline towards the support level at $125, confirming that it lost its sudden bullish momentum.
if AXSIf it fails to hold the $125 level, then the price could hold securely somewhere between $108 and $114.
AXS/USD Daily Chart
If there is an upward pressure on the AXS price, that is, the selling pressure between $148 and $155 from the supply zone, AXS price may reach a level of $155.
The rising moving averages and the movement of the MACD in the positive zone confirm this bullish outlook. Also, the position of the Relative Strength Index (RSI) indicator at 63 near overbought suggests that the bullish momentum still has some strength.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.