- Axie Infinity (AXS) soars to a 175-day high with a 35% potential upside, but caution is advised below $6.70.
- The resurgence of Axie Classic and a new merch store fuel AXS’s bullish momentum in the crypto market.
- MACD signals bullish sentiment, but overbought conditions indicate a possible correction for AXS.
The cryptocurrency market is witnessing a significant surge in the value of Axie Infinity (AXS), which has recently reached a 175-day high. The momentum began with a breakout from a descending resistance trend line on October 21, marking a notable shift in the digital asset’s trajectory. Since then, AXS has seen a rapid increase in value, with its price touching $7.51, the highest since early June.
As a result, AXS’s market capitalization and 24-hour trading volume increased by 13.47% and 548.09%, to $935,154,254 and $518,052,082, respectively. This suggests that the breakout from the descending resistance trend line has inspired confidence among traders, who forecast additional price rises soon.
AXS/USD 24-hour price chart (source: CoinStats)
Several developments have contributed to this positive trend. The resurgence of the original Axie Cl…
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