Cryptocurrency market experts analyzed the Axie Infinity (AXS) cryptocurrency rate chart. They used technical analysis tools and studied statistics, price patterns, as well as various indicators, including RSI, RVOL and others. Experts tried to predict the future price of the digital currency. Strategists noted that on August 4, the value of AXS was $17.4 and has decreased by 2.5% over the past 24 hours.
According to the chart data, analysts have noticed an ascending channel pattern. Both trend lines were moving up. Such a pattern, according to experts, is typical for a bullish trend. If the movement continues, then the price of AXS may reach the resistance levels of $20.51 and $28.23, otherwise it will fall to support at $16.39, $14.37 and $12.40.
According to the chart, the AXS has been in a bullish trend for the past month. If this trend continues, the price may overcome the first resistance levels and break through to $42.20.
As for other technical indicators: Axie Infinity (AXS) Relative Volume (RVOL) turned out to be below the cut-off line, indicating a weakness in the trend. The moving average (MA) was above the 50 MA (short-term), signaling an uptrend. However, according to experts, the likelihood of a reversal is high.
The Relative Strength Index (RSI) AXS is 51.11, which indicates overbought. In the coming days, a price reversal may occur, which means that traders should trade carefully.