Axie Infinity (AXS) finally managed to break away from its downward momentum that\u2019s been going on for the last six months.<\/p>\n
According to latest data from Coingecko<\/a>, the crypto asset peaked at $11.29 today before entering a minor price correction that made it decline by more than 7% over a 24-hour period.<\/p>\n AXS is in recovery after tremendous selling pressure crippled it in late October At the time of this writing, AXS was trading at $10.47 and has gone up by 12.7% and 16.1% during the last seven and 14 days, respectively.<\/p>\n Although it is still down by almost 18% for the past month, the altcoin is showing signs of a bullish rally that could make it breach the $13 marker.<\/p>\n During the last few days, the cryptocurrency\u2019s price movement was caught in a double bottom pattern that established $8.5 zone as base support region.<\/p>\n Source: TradingView<\/p>\n Following the recent rally of the crypto market, Axie Infinity managed to bounce back from that crucial zone and surpassed the $10.3 marker with its 24.5% surge.<\/p>\n This kind of performance enabled AXS to turn the tides in its favor, getting out of its bearish cycle and is now looking to make a decisive push with the aim of increasing its spot trading price by more than 23%.<\/p>\n In order to do that, the digital currency needs to make sure that it will keep the $10.3 range as today\u2019s sessions come to an end. If that happens, the virtual coin will push its changing hands value to $13.15.<\/p>\n Traders, however, must watch this condition like a hawk, as the bullish thesis will easily be invalidated if AXS fails to hold its current position right now.<\/p>\n Undeniably, AXS is still feeling the effects of the tremendous selling pressure that it experienced when vesting period for the asset ended on October 24.<\/p>\n In the crypto space, such event is usually followed by significant price dumps as sellers, after a considerably long wait, finally get the chance to sell their holdings.<\/p>\n Vesting period<\/a> refers to a specific length of time when early investors for a project or a crypto token such as Axie Infinity are required to hold their investments, making them unable to cash out as new investors come in.<\/p>\n When the unlock schedule came on October 26, AXS struggled to reach the $10 marker even though the crypto market initiated a bullish rally in order to reclaim the $1 trillion market cap turf.<\/p>\n The cryptocurrency now has a chance to return to its bullish ways provided that it can sustain its current range and avoid further decline.<\/p>\n\n AXS market cap\u00a0 at $1 billion on the weekly chart | Featured image from Bitcoin News, Chart: TradingView.com<\/a><\/p>\n Disclaimer: The analysis represents the author’s understanding of the crypto market and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Axie Infinity (AXS) finally managed to break away from its downward momentum that\u2019s been going on for the last six months.<\/p>\n According to latest data from Coingecko<\/a>, the crypto asset peaked at $11.29 today before entering a minor price correction that made it decline by more than 7% over a 24-hour period.<\/p>\n AXS is in recovery after tremendous selling pressure crippled it in late October At the time of this writing, AXS was trading at $10.47 and has gone up by 12.7% and 16.1% during the last seven and 14 days, respectively.<\/p>\n Although it is still down by almost 18% for the past month, the altcoin is showing signs of a bullish rally that could make it breach the $13 marker.<\/p>\n During the last few days, the cryptocurrency\u2019s price movement was caught in a double bottom pattern that established $8.5 zone as base support region.<\/p>\n Source: TradingView<\/p>\n Following the recent rally of the crypto market, Axie Infinity managed to bounce back from that crucial zone and surpassed the $10.3 marker with its 24.5% surge.<\/p>\n This kind of performance enabled AXS to turn the tides in its favor, getting out of its bearish cycle and is now looking to make a decisive push with the aim of increasing its spot trading price by more than 23%.<\/p>\n In order to do that, the digital currency needs to make sure that it will keep the $10.3 range as today\u2019s sessions come to an end. If that happens, the virtual coin will push its changing hands value to $13.15.<\/p>\n Traders, however, must watch this condition like a hawk, as the bullish thesis will easily be invalidated if AXS fails to hold its current position right now.<\/p>\n Undeniably, AXS is still feeling the effects of the tremendous selling pressure that it experienced when vesting period for the asset ended on October 24.<\/p>\n In the crypto space, such event is usually followed by significant price dumps as sellers, after a considerably long wait, finally get the chance to sell their holdings.<\/p>\n
\nAxie Infinity is targeting a 23% jump to surpass the $13 marker
\nAXS needs to close today\u2019s session staying above $10.3 for it remain bullish<\/p>\nA Clear Path For Axie Infinity Recovery<\/h2>\n
Still Feeling The Pressure From AXS Vesting Period Expiration<\/h2>\n
\nAxie Infinity is targeting a 23% jump to surpass the $13 marker
\nAXS needs to close today\u2019s session staying above $10.3 for it remain bullish<\/p>\nA Clear Path For Axie Infinity Recovery<\/h2>\n
Still Feeling The Pressure From AXS Vesting Period Expiration<\/h2>\n