Axie Infinity, a blockchain-based game, was noted with NFT sales at the beginning of last year, but has continued to decline with the decrease in demand recently.
When we look at the sales volume distribution of NFTs on a yearly basis, it is seen that there has been a decrease in NFT since February 2022. However, the decline in NFT prices after reopening the inter-chain Ronin Bridge last week was among the latest news.
When we look at the technical data, we can see that the volume has increased in the last 8 hours compared to the previous data.
Currently, the price continues to rise to the $16.18 region, which is the supply region.
With the break of this area, the $18.48 level is at first as the resistance levels to be followed.
Apart from the intermediate resistance levels, an important region to note is the order block region of $29.25 and $31.78.
Another scenario would be the breakdown of the demand region of 13.08 and 13.81 dollars, which means that the structure will deteriorate and the buyer effect will decrease. In this case, the $11.87 region, which is a lower support level, can be followed.
When the whole structure of the market is evaluated, it is necessary not to ignore these data when price tracking, since the dynamics of some altcoins do not follow Bitcoin due to both low market cap data and a bearish market structure.