Axie Infinity Price Prediction for Today, November 5: AXS/USD Bulls End the Downtrend at $8.60

Updated: 05 November 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

From the 30th of July to the 14th of August, Axie Infinity met continuous rejection at the $20.00 resistance price level. Since then the price has been in a downtrend. That long-term period of indecision and downtrend is ending as an increase in buying pressure between yesterday and today is changing the direction of the market and making the price rise.

Axie Infinity Market Price Statistic:

AXS/USD price now: $10.94
AXS/USD market cap: $1,024,818,384
AXS/USD circulating supply: 96,312,541.46
AXS/USD total supply: 270,000,000
AXS/USD coin market ranking: #52

Key Levels

Resistance: $11.00, $12.00, $13.00
Support: $9.500, $9.00, $8.500

Axie Infinity Market Price Analysis: The Indicators’ Point of View

Strong bullish support made the price of Axie infinity consolidate at some point. But bears have been proving stronger than the bulls since the 30th of July when the market got knocked down at the $20.00 price level. The market went flat at $9.12 from the 26th of October to the 2nd of November. The buyers secured a support level on the 3rd of November. Then the daily bullish market changed dramatically. Although the RSI indicator records 58.5% for the strength of the market, the MACD lines are still in the bearish zone. In the same way, the upper band of the Bollinger band has not yet responded to the bulls market, but the price actions have come above the Bollinger Simple Moving Average. This means that the bulls market needs to keep its activities up to recover its price.

AXS/USD 4-Hour Chart Outlook

The first session of the AXSUSD market started with a very bullish market. But, towards the end of the first session, the price began to pull back. The price pullback was due to the market entering the overbought zone. So, for the second and third sessions, the bears had control over the market and the price settled at the current price (that is $10.94). At this current price, bulls enter serious contention with the bears for price control. The bulls are making their price support at this point. Therefore from here, the price will rise further. The AXSUSD Targets $12.00 between today and tomorrow.