Axie Infinity (AXS) is riding the wave with a price surge today!
Axie Infinity(AXS), developed by Sky Mavis, is a game set in the digital world of Lunacia with 90,601 Land segments as NFTs. The game features Axies, creatures with various attributes battling against each other or computer opponents using cards. Axies are ERC-721 NFTs, tradable and breedable, using AXS and SLP tokens. The ecosystem currently uses Ethereum and Loom Network but aims to migrate to the Ronin Ethereum sidechain.
AXS, the governance token (ERC-20), started with Sky Mavis owning 21% (locked with a schedule), with plans for increased decentralization. AXS, also known as Axie Infinity Shards, has multiple roles and is traded on various exchanges. Market cap, volume, and live price data are available, along with an AXS price chart. The project blends blockchain, decentralization, and a play-to-earn model, making it significant in the crypto gaming space.
Current Price of AXS
Axie Infinity (AXS) is currently priced at $8.37, experiencing a 6.54% surge in the last 24 hours and a notable 16.02% increase over the past 7 days. The 24-hour trading volume stands at $62,996,334.80. With a circulating supply of 140 million AXS, the market cap for Axie Infinity is valued at $1,135,905,677.
Technical Analysis
Axie Infinity (AXS) presents a potential bullish opportunity with a Falling Wedge pattern indicating a resumption of the uptrend. Targets are $9.50 in the near term and $11.00 in the medium term.
To manage risk, set a Stop Loss (SL) at $6.80 and consider using a price alert for timely updates. Falling Wedge patterns typically result in bullish breakouts, suggesting higher price trends upon breaching the upper trend line.
The current trend is neutral in the short term but displays an uptrend in the medium- and long-term. Mixed momentum is observed, with a bearish MACD Line but a neutral RSI around 50. The Support Zone is at $7.00, followed by $6.00, while the nearest Resistance Zone is at $9.50, succeeded by $11.00. Traders and investors are advised to closely monitor these levels for informed decision-making.
It Had been consolidating in the parallel channel for so long and tried to break but got a harsh rejection, resulting in the breaking down of parallel channel support currently trading below it and facing resistance.
AXS price history
Axie Infinity is currently priced at $8.37, and it holds the 65th position in the overall cryptocurrency rankings. The circulating supply of Axie Infinity is valued at 140M, and it has a market cap of $1,135,905,677 AXS.
In the past 24 hours, the cryptocurrency has seen a $0.12 increase in its value.
Over the last 7 days, AXS has shown a positive trend, experiencing a 16.02% increase. This recent performance suggests that Axie Infinity has displayed strong potential, making it a potentially attractive investment opportunity.
Looking at the past month, the price of AXS has grown by 16.08%, with an impressive average increase of $0.96. This substantial growth indicates that the coin could be considered a solid asset, especially if this upward trend continues.
The highest amount ever paid for Axie Infinity (AXS) was $164.90, noted on November 6, 2021, which is approximately 2 years ago. Currently, the price is 94.9% less than this record high.
The cheapest Axie Infinity (AXS) was ever bought for was $0.1237, documented on November 6, 2020, around 3 years ago. Right now, the price is remarkably higher, standing at 6,682.15% above that lowest point.
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Price Prediction
Looking at Axie Infinity’s price changes at the end of 2023, crypto experts predict that the average AXS rate will be around $8.53 in January 2024. They anticipate the lowest price to be $7.72 and the highest to be $8.78. The potential return on investment (ROI) is estimated to be 10.2%.
Axie Infinity (AXS) currently has more short positions than longs, according to Santiment. Despite this, the negative sentiment might act as a catalyst for a potential rebound, as observed in cases where buying pressure increases with a low long/short ratio. This could lead to a positive shift in AXS prices.
Conclusion
In conclusion, Axie Infinity (AXS) is a crypto game with unique creatures called Axies. The game uses blockchain technology and has its governance token, AXS. Currently priced at $8.37, AXS has shown positive trends, and experts predict an average rate of $8.53 in January 2024. Despite short positions, there’s potential for a rebound. Overall, Axie Infinity presents opportunities for gamers and investors alike in the dynamic world of cryptocurrencies.
