Axie Infinity to find support at $102 before AXS moves higher

• Axie Infinity price has gain more than +110% since October, but currently below those new all-time highs.
• Significant whipsaws in price action generate anxiety for bulls and bears.
• Directional bias is now uncertain as Axie Infinity begins to pause.

Axie Infinity price has undoubtedly been an outperformer for the majority of 2021. Moreover, it has continued this trend of outperformance since the beginning of October, generating substantial spikes in value in a short period of time.

Axie Infinity price displays massive volatility near its new all-time highs.

Axie Infinity is the definition of a cryptocurrency that will cause some anxiety. Since October fourth, every daily candlestick for Axie Infinity has experienced a massive pump, lifting the daily high to ranges between 6% and 15% above the daily open. Friday’s trading session has moved as much as 12%.

The selling pressure on Axie Infinity price has been substantial, with all rallies getting sold off over the past five days. However, there has been little follow-through by sellers to promote any continued trend south. When you look at the wicks/tails of the candlesticks, they are massive when compared to the small wicks below the bodies. But still, no intense seller pressure has coming to correct Axie Infinity lower.

AXS/USDT Daily Ichimoku Chart

As long as buyers maintain strength near the $120 value area, Axie Infinity is likely to pause and resume its bullish momentum. But the weekend is here, and that is a time period when the prevailing trend can be terminated without warning. Moreover, given Axie Infinity price has made such substantial gains without much pullback, bears could quickly invalidate any further upside potential by threatening a move below the $100 value area.

 

---