Axie Infinity (AXS) Sinks to $20.75 amid Bearish Markets

 

  • Axie Infinity’s price outlook reveals a downtrend in the process.
  • AXS’s vital support stands at $20.0
  • The altcoin plunged by 7.18%.

Axie Infinity’s today price outlook shows the alt opened the session near $21.97 and touched the $22.06 high. Nevertheless, bulls could not keep the momentum, and AXS started plunging. Increased bearishness sunk the token toward the $20.75 low. Meanwhile, the price secured some ground around this area, trading at $20.90 at this publication. Nevertheless, the Relative Strength Index and MACD remain bearish, supporting more price declines.

The crypto market remained under pressure within the past couple of days as Bitcoin (BTC) met sharp declines. That had most alts, including AXS, suffering massive drops. Axie Infinity lost approximately 7.18% within the previous 24 hours. The token has a market cap of $1.26 billion, ranking 46th in the crypto list by value.

Bears in Control as AXS/USD Dips

The daily price chart shows bears in control of Axie Infinity as the alternative token noted sharp drops over the past couple of days. The crypto secured a foothold at $20 and currently hovers in this area. The 24hr MACD remained bearish as RSI traded in the bearish region. Such readings confirm further near-term declines for the alt.

Market volatility is somewhat high as BBs start to widen. That can translate to surged price volatility for AXS. Moreover, market analysts expect bearish actions as the token has plummeted over the previous few days.

According to the 1-day chart, AXS trades beyond the vital support of $20.0 at the moment. Breaching this barrier will see the token dropping to $18. Nevertheless, steadying beyond the foothold would support an upswing to the resistance of $22. The MAs remain bearish, suggesting possible declines in the short term.

Conclusion

Axie Infinity’s outlook reveals bearish trends as the crypto space sees downside pressure. Though AXS secured support at $20.75, the current situation supports further declines. The token sees bears dominating in recent hours without bullish signals. Nevertheless, the bulls defend the $20.5 near-term support. Analysts expect AXS to remain pessimistic with possible $20 support retests.

Stay around for upcoming developments in the crypto markets.

About the author

Christopher is the Blockchain/DeFi Editor for E-Crypto News he also writes frequently about Crypto Gaming and Gambling. He is the author of the book "Profitable Cryptocurrency Gambling and Gaming: A Complete Guide." A content developer, Crypto-Enthusiast, and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin22,995 0.35 % 0.42 % 3.37 %
Ethereum1,645.1 0.30 % 1.70 % 0.08 %
Tether1.0000 0.07 % 0.05 % 0.13 %
BNB283.64 0.09 % 0.32 % 2.79 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
XRP0.4687 0.46 % 4.02 % 4.38 %
Binance USD1.000 0.15 % 0.14 % 0.18 %
Cardano0.3923 0.46 % 1.46 % 1.13 %
Dogecoin0.09200 0.52 % 0.34 % 1.80 %
Polygon1.230 0.63 % 2.52 % 4.23 %

bitcoin
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ethereum
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tether
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bnb
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usd-coin
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xrp
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binance-usd
Binance USD (BUSD) $ 0.999474
cardano
Cardano (ADA) $ 0.393112
dogecoin
Dogecoin (DOGE) $ 0.092132
matic-network
Polygon (MATIC) $ 1.23