on October 5, 2021 Left (LEFT) It has started to decline below the $160 level and this pullback could drop below the $150 level, with support on Solana identified at the 61.8% Fibonacci level. Axie Infinity (AXS) on the other hand, it will seek a recovery path above $130, albeit difficult, while trying to find a support at the $120 level. Here are the levels to watch out for for Solana and Axie Infinity.
On Tuesday this week, the crypto world received positive signals from many different fronts, and following the rise of Bitcoin, there were significant rises in the altcoin world. Bitcoin’s rise above $50,000 and Ethereum’s rise above $3500 was perceived as a positive signal. On the other hand, the rise of Dogecoin and Shiba Inu, the not taken seriously but very well-paid star of the altcoin world, was another reason that increased the interest in the altcoin world.
Although Cardano, one of the other important names in the altcoin world, could not show the rise he wanted, Solana, Terra and Axie Infinity went to a correction after a good rise.
Latest Situation in Solana
At the time of writing, Solana is trading at $154, which is just below the key $160 level. Although Solana climbed to the high of $178 recently, it is currently watching below that level and continuing the downtrend.
Expecting a higher high at $160, a level strengthened by the 61.8% Fibonacci level, did not hold and support disappeared. With the support lost, the next target is set at $150. A bearish bias on the SOL can be seen as the Relative Strength Index (RSI) retraces to the middle line.
Another daily close below the 61.8% Fibonacci level will trigger dips to $150 and possibly $140 later.
Latest on Axie Infinity
AXS, which experienced a sharp decline after the top rise of $160, first regressed to $125, but currently continues to trade at $127. AXS, which has gained at least 2530% from July 2021 to date, is currently in a correction. Analysts also emphasize that this correction is healthy and important for the future of AXS.
While the $120 support isn’t exactly enough for AXS bulls at the moment, it’s pretty close to the desired levels. The bulls are expected to support a rally up to $200 after the correction.
A sustained upside $130 close should help AXS break the $140 resistance quickly. A FOMO triggered in AXS could bring a very quick $200 top rally.
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.