axie infinity

AXS is sitting around a strong demand zone and round number 50.0 so we will be looking for buy setupson DAILY: AXS formed a valid channel in red and a symmetrical triangle in orange but it is not ready to go yet. Trigger => Waiting for a momentum candle close above the last high in gray to buy. Meanwhile, until the buy is activated, AXS can still trade lower inside the green demand zone to form an inverse head and shoulders pattern before breaking the gray zone. Good luck! All Strategies Are Good; If Managed Properly! ~Rich

  // 🔥 AXS On It's Last Legs by FieryTrading on TradingView.com AXS has been steadily losing value ever since topping in October last year. As of now, AXS has fallen through the bull-floor with a huge red candle. In my view, the bull-floor was the last support of the AXS bull-pattern.I think that the near-term future of AXS looks dire, bad at best. Investors are losing confidence in the AXIE game and are dumping the token by the masses. Bearish targets are placed at previous important tops.

Axie Infinity (AXS) has been increasing since May 28, moving upwards by 52% from its May lows.       AXS has been falling since reaching an all-time high price of $166.09 in Nov 2021.  The downward movement so far led to a low of $16.20 in May. The ensuing bounce (green icon) served to validate the $20 area as support. The area had previously not been reached since July 2021.       The entire downward movement was preceded by a sharp bearish divergence in the weekly RSI, whose trendline is still intact. Until this trendline is broken, the trend cannot be considered bullish. If the ongoing bounce continues, the closest resistance area would be at $50. AXS/USDT Chart By TradingView Double bottom leads to bounce Between May 12 and 20, AXS created a double bottom, which is considered a bullish pattern. In addition to this, the pattern was combined with bullish divergence in the RSI (green line). As a result, its significance is increased. Furthermore, the RSI has now moved above 50, another sign that the trend is bullish. As long as the trendline of the divergence is intact, it is likely that the upward movement will continue. If it does, the closest resistance levels would be between $39 and $46, the 0.382 to 0.5 Fib retracement resistance levels. AXS/USDT Chart By TradingView AXS wave count analysis Cryptocurrency trader @Mesni_burek tweeted a chart of AXS, stating that the price is correcting after completing a five-wave upward movement. Source: Twitter While it seems that the price has completed a five-wave upward movement since March 2021, the count for the drop is less certain. It is possible that the decrease is a completed A-B-C structure. But the B wave does not retrace enough relative to the A wave, and the C wave shows no relation to A.  AXS/USDT Chart By TradingView So, the alternative would be that the decrease is a completed five-wave downward movement.  While this would mean that AXS will eventually reach a lower low, the short-term movement would be the same, in which a significant bounce towards $74 would be expected. AXS/USDT Chart By TradingView For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   Source: BeInCrypto

Summary: What is the Axie Infinity Platform and how does it work? Advantages of the Axie Infinity exchange. Axie Infinity’s past, present and future price positions. Read next: Altcoins: ZCash (ZEC), What Is It? - A Deeper Look Into The ZCash Platform  The Axie Infinity Platform Axie infinity is a trading battling game that is block-chain based and is partly owned and partly operated by its players. The Axie Infinity platform was inspired by popular games such as Tamagochi and Pokemon, and allows users to breed, raise, collect, battle and trade token-based creatures that are called Axies. The Axie Infinity platform is Ethereum based. These Axies can take various forms, and there are more than 500 different body parts that are available on the platform. Each different part comes with a different rarity scale, from common, rare, ultra-rare and legendary. Axies can have any combination of body parts, making them highly variable and often rare and unique. Each Axie is a non-fungible token (NFT) each with different strengths and attributes and can be entered into 3v3 battles with the winning team earning more experience (exp) points, these experience points can be used to level up the stats or evolve the body parts of an Axie. These Axie’s can be bred together to create new and unique offspring, which can either be used or sold in the Axie marketplace. The Axie Infinity ecosystem also has their own unique governance token called the Axie Infinity Shards (AXS). These AXS are used in key governance votes and allow users an opportunity to have a say in how the funds in the Community Treasury are spent. Axie Infinity Shards (AXS) Axie Infinity describes their Axie Infinity Shards (AXS) as “the glue that binds all Axie community members together. AXS holders are able to claim rewards if they stake their tokens, participate in key governance votes and play the game. Players are also able to earn $AXS when they play different games within the Axie Infinity universe and through user generated content initiatives. Axie infinity also allows staking, players are able to lock up their tokens to receive AXS that have been newly created. Stakers are also required to vote and play to claim rewards. AXS is also accepted as a form of payment within the Axie Infinity Marketplace. AXS may also be used to determine eligibility for sales/auction participation conducted by the Axie team. In early 2021, the community treasury went live, and began to receive revenues that were generated by Axie Infinity as well as a portion of staking rewards. This treasury is governed by the AXS stakers once the network has become decentralised sufficiently. Axie Infinity (AXS) has a current circulating supply of more than 63.5 million AXS, with a maximum supply of 270 million tokens. The current market capitalisation of AXS is more than $1.25 billion. Advantages of the Axie Infinity Platform Gameplay based on trading and battling: The Axie infinity game’s graphical user interface and its general appealing appearance and feel are actually quite simplistic. The play-to-earn feature gives it the upper hand and makes it an appealing game title. Players can earn the Ethereum-based tokens AXS by fighting or breeding Axies, which can then be exchanged into Ether and utilised as real-world money. Axies are NFT’s: When a player owns numerous Axies, it is the equivalent of he or she is effectively owning a collection of digital goods with real monetary worth. These Axies can be bought and sold on the open market. Complexity and future development: the game is difficult and is constantly being developed. Runs on Desktop and mobile operating systems, Axie Infinity is compatible with most desktop and mobile operating systems (Android and IOS). The video games cross-platform blockchain interoperability makes Axie Infinity accessible to a wide range of people, thus, allowing it to draw more players and extend future growth possibilities. Play-to-earn and the blockchain economy. Past, present and future prices for Axie Infinity (AXS) After the launch of the Axie Infinity network, the price took almost 6 months to take off, the spike in price that occurred in 2021 saw the price go above $125, and was followed by a gradual but substantial fall. Since then the price has not risen noticeably again. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Axie Infinity falls under this category. According to some analysts the future price of Axie Infinity (AXS) could reach up to $89 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. AXS Price Chart Sources: coinmarketcap.com, finance.yahoo.com, axieinfinity.com, cryptonewsz.com, analyticssteps.com