Best Gaming Token To Buy: Axie Infinity Price Analysis

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Axie Infinity (AXS) is a notable cryptocurrency within the GameFi sector, offering a unique play-to-earn model through blockchain-based gaming.

Here’s an in-depth look at its current market performance, price analysis, and recent news affecting its trajectory.

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AXS Price Analysis

Latest Price: $4.91
Market Cap: $749.08 million
24-Hour Trading Volume: $36.42 million
Circulating Supply: 152.59 million AXS
Total Supply: 270 million AXS (maximum supply)

Trends are mixed but improving. Wait for a breakout from the Ascending Triangle pattern, above $5.50 resistance, to signal trend resumption with +20% upside potential to the next resistance of $6.50

Weekly Price Analysis

Over the last week, AXS has shown slight price fluctuations, with a 1.2% decrease within the last 24 hours and an overall 5.5% increase across the past seven days.

Trend: Short-term trend is Up, Medium-term trend is Neutral, Long-term trend is Strong Down.

Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently.

Support and Resistance: Nearest Support Zone is $4.00. Nearest Resistance Zone is $5.50, then $7.00.

Key Indicator Values

Relative Strength Index (RSI): Positioned within a neutral range.
MACD (Moving Average Convergence Divergence): Currently in a slight bearish crossover.
Trading Volume: The decreased volume signifies declining interest or liquidity.

News Roundup

Token Unlock Event: On October 20, Axie Infinity saw a substantial unlock of 15.13 million AXS tokens, valued at approximately $62 million.
Platform Developments: Axie Infinity’s developers have focused on introducing new game mechanics and expanding gameplay options, aiming to enhance user engagement and attract a broader audience within the GameFi community.

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