Axie Infinity breakout on a symmetrical triangle incoming after Google Play Store win?

2022-12-23 12:37

Axie Infinity has lost 95% of its value from its ATH

The cryptocurrency trades on a symmetrical triangle

A breakout could shape the next price direction for AXS

Axie Infinity (AXS/USD) has been one of the hardest-hit cryptocurrencies this year. The token of the play-to-earn platform has lost 95% of its value from its all-time high. However, the last two months of the year should give some hope.

AXS bottomed at $5.9 in early November. The cryptocurrency made some bullish price spikes occasionally, one time touching $14. The price, followed by sudden falls, has failed to inspire a comeback. However, AXS’s price action shows the cryptocurrency has been on a steady ascend. Trading at $7.0 as of press time, AXS had maintained a near-symmetrical triangle. What is its price next?

Perhaps we should start by mentioning that Axie Infinity witnessed some boosts from the latest cryptocurrency news. That Axie Infinity’s Origins game app was successfully okayed on Google Play Store. Axie lovers would be excited at the news as it opens more opportunities for Web 3.0 gaming. Axie said the approval allows it to continue “testing and improving the game.” The team also lauded the development as key to launching Origins in other parts of the globe.

Enough to make the Axie Infinity token explode? No, but there are positives from the price action.

AXS maintains a short-term price recovery

AXS/USD Chart by TradingView

On the daily chart, AXS trades on a symmetrical triangle, although the descending trendline is a bit steeper. The RSI is recording improvements, although the reading is below the midpoint.

AXS will break out next from the symmetrical triangle.

Will AXS break higher or lower

A break from a symmetrical triangle can occur on the upper or lower side. A break out at the descending trendline would set the momentum to bullish. We consider this as the most likely scenario since AXS price is emerging from a bottom. On the contrary, AXS could break lower to trade back to the bottom price.

Where to buy AXS

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy AXS with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy AXS with Coinbase today Disclaimer

The post Axie Infinity breakout on a symmetrical triangle incoming after Google Play Store win? appeared first on CoinJournal.

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Bitcoin price in Telegram @btc_price_every_hour

Wrapped Origin Axie (WOA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -0.15 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 442.17 (-100%)

axie infinity axs triangle breakout symmetrical price

axie infinity → Результатов: 126


В Axie Infinity озвучили сроки возврата украденных средств

Стоящая за блокчейн-игрой Axie Infinity компания Sky Mavis рассчитывает вернуть хотя бы часть из украденной злоумышленником криптовалюты примерно на $600 млн. Но команда проекта признала, что процесс займет время, сообщает Bloomberg.

2022-4-12 19:05


В Axie Infinity обозначили сроки возврата украденных криптоактивов

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2022-4-12 16:25


Axie Infinity Rakes in over $4 Billion in Total Sales

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2022-2-24 18:14


На бирже Binance запущен высокодоходный стейкинг Shiba Inu, Axie Infinity и PancakeSwap

Криптовалютная биржа Binance запустила новый сервис под названием «Высокодоходный центр» (High-Yield Center) для стейкинга Shiba Inu (SHIB) и девяти других монет. Блокировка токенов Axie Infinity (AXS) на 90 дней позволяет заработать рекордные 104,62% годовых.

2022-2-17 17:02


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Philippines Regulator Instructs Axie Infinity Players to Pay Taxes on Income Made from In-Game Assets

The Philippines financial regulator has not taken kindly to people making money off of blockbuster blockchain-based game Axie Infinity. Income Made via Axie Infinity is Taxable The Department of Finance (DOF) of the Philippines has warned the players of the popular blockchain-based game Axie Infinity that they must pay taxes on the real-world money theyRead More

2021-8-25 10:00