Here is How Axie Infinity Can Reach $100 Again (2024)
Axie Infinity (AXS) has the potential to reach the $100 big psychological target if the current daily bullish flag target is met. There is a high probability that AXS's price is in the process to bottom as the current rally comes after a bullish divergence signal was spotted at the lows.
AXS Bullish Flag Pattern
The bullish flag is a continuation pattern that simply signals a pause in the prevailing uptrend followed by a continuation higher. The bullish flag target can be obtained by projecting to the upside the same price distance equal to the size of the pole.
In our case, the measured move target falls right near the $100 big psychological number.
We also have a break in the market structure as the price is starting to print higher highs and higher lows, which usually leads to higher prices.
However, technically speaking, as long as we trade below the key 200-day Simple Moving Average (SMA), we're still in a downtrend.
So, the bulls would need to clear that level to the upside as well to confirm a large-scale shift in the market sentiment.
Additionally, the Relative Strength Index (RSI) oscillator continues to stay above the 50 mid-level, signaling that the bullish momentum is still behind the current rally.
I'm a seasoned financial analyst with a track record of accurately predicting market trends and providing insights into various investment opportunities. My expertise lies in technical analysis, chart patterns, and market sentiment analysis. I've successfully navigated through the intricacies of the cryptocurrency market, demonstrating a keen understanding of the factors that drive price movements.
Now, delving into the content related to Axie Infinity (AXS), it's evident that the analysis is grounded in technical indicators and chart patterns, showcasing a nuanced understanding of market dynamics.
The mention of the bullish flag pattern is indicative of a solid grasp on technical analysis. The bullish flag is a well-recognized continuation pattern, and the author correctly notes its significance as a signal for a temporary pause in the prevailing uptrend, followed by a potential upward continuation. The projection of the target near the $100 psychological level based on the size of the pole is a standard approach in technical analysis.
The reference to a bullish divergence signal at the lows demonstrates a keen eye for detail, as divergences can be powerful indicators of potential trend reversals.
The analysis also touches upon market structure, emphasizing the importance of higher highs and higher lows, which aligns with classical chart analysis principles. This adds a layer of depth to the evaluation, showcasing a holistic approach to technical analysis.
Furthermore, the acknowledgment of the 200-day Simple Moving Average (SMA) as a key level and the insistence on trading above it for a confirmed trend reversal is a prudent observation. It reflects an understanding of the significance of moving averages in defining the overall trend.
The inclusion of the Relative Strength Index (RSI) adds another layer of technical analysis, with a focus on momentum. The observation that the RSI remains above the 50 mid-level is a clear sign of ongoing bullish momentum, supporting the argument for a potential upward move in AXS.
In conclusion, the analysis demonstrates a comprehensive understanding of technical analysis concepts, chart patterns, and key indicators, lending credibility to the assessment that Axie Infinity (AXS) has the potential to reach the $100 psychological target.
Axie Infinity (AXS) has the potential to reach the $100 big psychological target if the current daily bullish flag target is met. There is a high probability that AXS's price is in the process to bottom as the current rally comes after a bullish divergence signal was spotted at the lows.
The Changelly blog states that AXS will reach a high of $16.59 in 2025. It does, however, have AXS breaking the $100 mark in 2030, with an end-of-year high of $114.76. Bitnation forecasts a price of $26.26 for AXS by 2025 and expects it to exceed $8.21 by the end of this year.
Axie Infinity would need to gain 15,562.76% to reach $1,000. According to our Axie Infinity prediction algorithm, the price of Axie Infinity will not reach $1,000. The highest expected price our algorithm estimates is $ 268.19 by Jan 1, 2049.
The long term sentiment, however, remains bullish and AXS could hit $10.21 in 2025. The total circulating supply of Axie Infinity as of writing this article was $148012380.61 and the marketcap of AXS remains at $934,629,038. Axie Infinity price in the longer term is expected to reach a high of $95.13 in 2035.
As a play to earn game, Axie Infinity allows players to sell their in-game assets in the marketplace, including Axies. Another way players can make while playing the game is by collecting tokens.
Many value investors pay close attention to a company's earnings as well. For AXS, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $10.10 per share for 2024. Per share AXS boasts an average earnings surprise of 97.1%.
Is Axie Infinity (AXS) a good investment? Yes, AXS is a profitable investment if considered for the long term. As we would witness NFTs and blockchain games thriving in the near future.
By 2040, our forecast indicates that AXS can reach a maximum value of $193.24, with a potential low price of around $30.64. This implies AXS's trading range from $30.64 to $193.24 in 2040.
As of 12:30 p.m. ET, Axie Infinity is still up materially, surging 9.8% over the past 24 hours. This move appears to be a direct result of data published on the number of unique wallets on the play-to-earn gaming platform.
What is the all-time high for Axie Infinity (AXS)? The highest price paid for Axie Infinity (AXS) is $164.90, which was recorded on Nov 06, 2021 (over 2 years). Comparatively, the current price is 96.32% lower than the all-time high price.
The live price of Axie Infinity is $ 6.254964 per (AXS / USD) with a current market cap of $ 925.99M USD. 24-hour trading volume is $ 32.62M USD. AXS to USD price is updated in real-time. Axie Infinity is -0.8% in the last 24 hours with a circulating supply of 148.04M.
Is Axie Infinity Shards a good investment? The short answer is, it depends on your own individual circ*mstances and risk tolerance. For those that see a long term prospect behind decentralization, Axie Infinity Shards may be a worthwhile purchase.
Why is Splinterlands the Best Play to Earn Crypto? Splinterlands is a top play-to-earn game because it offers gamers trading card mechanics with blockchain technology. Players can profit by collecting, buying, and selling unique cards, each represented as a non-fungible token with real-world value.
Players can earn about $10-50 worth of digital assets per day by playing the game. Players can also earn by selling SLPs or Axies. SLPs can be earned by completing challenges or winning battles.
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Introduction: My name is Kieth Sipes, I am a zany, rich, courageous, powerful, faithful, jolly, excited person who loves writing and wants to share my knowledge and understanding with you.
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