• Axie Infinity price looks ready for a quick 15% run-up as its recovery strengthens.
  • The December 6 swing low collected liquidity below the December 4 swing low, which adds credence to the bullish outlook. 
  • A breakdown of the range low at $94.92 will invalidate the bullish thesis.

Axie Infinity price is recovering from its steep downtrend and is showing signs of improvement. Investors can expect AXS to pierce through the trading range’s midpoint and move higher.

Axie Infinity price eyes higher highs

Axie Infinity price has rallied 13% over the past 24 hours and is currently grappling with the December 6 swing high at $108. A swift move above this level is likely, but investors should expect a minor retracement to $103 before the upswing narrative solidifies.

Regardless of the downswing, Axie Infinity price is ready for a 10% upswing to retest the trading range’s midpoint at $118. A decisive close above this level will indicate bulls’ intentions to venture higher. In this situation, AXS could retest the 62% and 70.5% retracement levels at $124 and $128.

This move would constitute a 20% move in total. In case of a massive spike in buying pressure, however, there is a chance Axie Infinity price could retest the 79% retracement level at $132, after a 24% upswing from $106.

AXS/USDT 4-hour chart

AXS/USDT 4-hour chart

While the conditions are looking highly viable for a move higher, Axie Infinity price needs first to flip the $118 hurdle into a support level. If AXS fails to rise past the December 6 swing high at $108 and proceeds to retest the range low at $94, it will indicate that the buyers are either unwilling or unable to push AXS higher.

A 4-hour candlestick close below this level will create a lower low and invalidate the bullish thesis for Axie Infinity price.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Tezos set for the last stretch as investors ignore warnings

Tezos set for the last stretch as investors ignore warnings

Tezos (XTZ) price action is printing a staggering performance in just a slim two months with 62% gains after bouncing off $1.19 and nearing $2.

More Tezos News

SEC supporters come to the rescue, while XRP price hints at a potential crash

SEC supporters come to the rescue, while XRP price hints at a potential crash

XRP price is grappling with a significant resistance barrier after months of trying to flip it. The most recent failure could result in a steep correction, especially if Bitcoin price crashes.

More Ripple News

Dogecoin Price Forecast: A short-term 60% breakout play and macro levels to DCA

Dogecoin Price Forecast: A short-term 60% breakout play and macro levels to DCA

Dogecoin price shows that the bulls are back in town and have already triggered a journey to the upside. While this outlook was expected in our previous publications, this article will also take a look into the macro outlook for DOGE.

More Dogecoin News

Here’s what to expect from Bitcoin, Ethereum price as Thailand tightens regulation

Here’s what to expect from Bitcoin, Ethereum price as Thailand tightens regulation

Thailand’s central bank is working on tightening regulatory oversight on cryptocurrency platforms. The central bank is prepared to overhaul crypto rules once new amendments give it regulator powers, alongside the Thailand SEC. 

More Bitcoin News

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

Read full analysis

BTC

ETH

XRP