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Axie Infinity lost 95% of its value from ATH
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Cryptocurrencies are traded in a symmetrical triangle
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Breakout could shape AXS’s next price direction
Axie Infinity (AXS/USD) is one of the hardest hit. Cryptocurrency this year. Play-to-Earn platform tokens have lost 95% of their value from all-time highs. However, the last two months of the year should give hope.
AXS bottomed out at $5.9 in early November. The cryptocurrency has seen occasional bullish price spikes, reaching as high as $14. Prices, which continued to fall sharply, failed to inspire a resurgence. However, the AXS price action shows that the cryptocurrency is steadily rising. His AXS, which trades at $7.0 at the time of writing, maintains a roughly symmetrical triangle. What is the price then?
Perhaps Axie Infinity is the latest cryptocurrency newsThat Axie Infinity’s Origins game app has been successfully approved on the Google Play Store. Axie enthusiasts will be thrilled with this news of more opportunities for Web 3.0 gaming. Axie said the approval will allow them to continue “testing and improving the game.” The team also praised the development as a key to launching Origins in other parts of the world.
Enough to explode the Axie Infinity token? No, but there are positives from the price action.
AXS maintains short-term price recovery
On the daily chart, AXS is trading in a symmetrical triangle, but the downtrend line is a bit steeper. The reading is below the midpoint, but the RSI is registering an improvement.
AXS then breaks out from the symmetrical triangle.
Does AXS go higher or lower
Breaks from symmetrical triangles can occur on the upper or lower side. A breakout at the downtrend line will turn the momentum bullish. Consider this the most likely scenario. AXS Price coming out of the bottom. Conversely, AXS may fall back to bottom.
Where to buy AXS
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bit stamp
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