Sellers’ momentum is decreasing
Axie Infinity (AXSUSD) Price Analysis – 30 November
When sellers exert more pressure to break down the support level of $6.5, then, Axie may reduce to $5.7 and $4.8 support levels. An increase in the bulls’ pressure may break up the $7.5 level which may increase to $8.3 and $10.0 resistance levels.
Resistance levels: $7.5, $8.3, $10.0
Support levels: $6.5, $5.7, $4.8
AXS/USD Long-term Trend: Bearish
AXie Infinity is bearish in the daily time frame. The coin is under the bears’ control. On November 13, there was a strong bullish momentum movement, it was like a spark, and the price increased above the resistance level of $11.7. Sellers’ pressure opposed the bullish movement and the price returned to the $6.5 level. The buyers’ and sellers’ momentum became weak and the price started a consolidation movement.
Sellers are dominating the market on the daily chart, the price action is struggling to break down the support level of $6.5. When sellers exert more pressure to break down the support level of $6.5, then, the price may reduce to $5.7 and $4.8 support levels. An increase in the bulls’ pressure may break up the $7.5 level which may increase to $8.3 and $10.0 resistance levels. The Relative Strength Index (14) is moving up at 42 levels indicating a bullish movement.
AXS/USD Medium-term Trend: Ranging
AXie Infinity is ranging in the 4-hour chart. The bearish pressure made the price bottom at the $5.7 support level last two weeks. The bears lose their momentum, likewise, the bulls could not push up the price. This scenario leads to ranging movement at the moment.
The price is trading over and around 9-periods EMA and 21-periods EMA as an indication that ranging movement is ongoing. The Relative Strength Index period (14) is at 58 levels and the signal line points up to indicate a buy signal. Axie is struggling to rise while Dah 2 Trade and IMPT is on high risen level.
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