
The Axie Infinity token fell 6.60% on Thursday despite previous gains.
Axie Infinity is recording increasing activity on the platform
Token faces resistance at 50-day moving average
After a strong rise, the price of Axie Infinity (AXS/USD) is falling. The token has fallen 6.60% in 24 hours despite maintaining a weekly gain of 16%.as a coin journal reportAxie Infinity’s bullishness reflects increased activity on the blockchain.
Increased activity on play-to-earning gaming platforms will come even as decentralization takes shape. Announced in December 2005, “invested” community members have come together to achieve the goal. The announcement states that he has gathered over 600 enthusiastic members to share the future of Axie Infinity. Besides, Axie Infinity is building the first pilot ‘Season’ of the ‘Governance’ section. As a result, 700 contributors were selected for testing.
Axie Infinity Token’s reaction to recent developments may foreshadow some positive things to come.
AXS is trading at the 50-day moving average but faces bearish pressure
From a technical outlook, AXS faces pressure, but momentum is slightly bullish. The MACD indicator is bullish and recently crossed the neutral zone. The cryptocurrency trades at the 50-day moving average after first surpassing it.
Can AXS keep rising?
Generally, AXS price bearish Cryptocurrencies are trending downward. A break below the 50-day MA should be avoided if the bulls are to use a relief rally. A recovery at the moving averages will set his AXS for the next potential resistance at $11.
Conversely, below this, the AXS will drop to the 20-day MA or a bottom of $6. Investors should monitor price movements for further confirmation.
Where to buy AXS
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