Token bounces from the demand zone with strong bullish momentum.
The pair of AXS/USD is trading at the price level of $6.69 with a gain of 2.45% in the past 24 hours.
During the 2021 bull run, Axie Infinity and the AXS token exploded , rising from roughly $5 at the end of June to an all-time high of $165 – a 3,200% rise – in November 2021.
The cryptocurrency, however, has subsequently fallen owing to a variety of causes and concerns in the ecosystem, as well as the crypto winter and macroeconomic circumstances.
Can bulls dethrone bears?
Source: TradingView
Overall, the token is in a downtrend, with bears pushing the price down and forming lower highs and lower lows. According to the daily chart, AXS is presently trading at $6.69, up 2.45% in the last 24 hours. It is now trading below its key Moving Averages (50 and 200 EMA). On the chart, we can see a Descending triangle pattern forming, indicating that the token has gained bullish momentum from the demand zone.
Relative Strengt
We współpracy z: https://www.thecoinrepublic.com/2023/01/10/axs-technical-analysis-token-hits-the-support-level-twice-whats-next/
