Axie Infinity Price Prediction for Today, October 23: The Bears’ Market

Updated: 23 October 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.

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The $13.123 resistance has been a major price limit since the middle of September. Axie Infinity had been trending downwards since the 10th of September until bullish support hindered the price from falling any further and made the market range at the $12.427 price level. The expectation, as the buyers are becoming stronger, was that the price would break out in an upward way. However, at the end of the consolidation period on the 5th of October, the price breaks in a downward direction instead.

Axie Infinity Market Price Statistic:

AXS/USD price now: $8.682
AXS/USD market cap: $864,443,388
AXS/USD circulating supply: 96,842,452.84
AXS/USD total supply: 270,000,000
AXS/USD coin market ranking: #54

Key Levels

Resistance: $8.500, $8.000, $7.500
Support: $10.000, $10.500, $11.000

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

From the 15th to the 17th of October, the buyers tried to salvage the price from the downward slide, but the sellers had the upper hand. The three consecutive bearish candles that appeared to represent the 19th to the 21st day of October show massive selling of the crypto. On those days, we can hardly see any bullish activities in the market. That means the number of people buying the market is fewer in number. However, at this time, the bearish move may be coming to an end as the indicators are measuring in the oversold region. As the price of the crypto is been sold below its normal value, an upward price correction may take place soon.

AXS/USD 4-Hour Chart Outlook

So far into the day, the four-chart have recorded two sessions in which sellers fully had control. One can hardly see any bullish activities in the first two trading sessions. But in the third session, bullish activities can be seen. And the bullish activities may just be the result of price correction from the oversold territory.

Instead of Axie Infinity, which already has a market cap of almost $1 billion, investors might consider Dash 2 Trade (D2T) – a new token presale. Currently the D2T presale has raised $1.25 million in just over three days, a high level of interest from early buyers. Presales have more upside potential than big cap cryptos like AXS.