Friday, July 4, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Axie Infinity (AXS) Can Still Recoup Its 6-Month Loss And Rise 25%

by Index Investing News
November 6, 2022
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Axie Infinity (AXS) finally managed to break away from its downward momentum that’s been going on for the last six months.

According to latest data from Coingecko, the crypto asset peaked at $11.29 today before entering a minor price correction that made it decline by more than 7% over a 24-hour period.

  • AXS is in recovery after tremendous selling pressure crippled it in late October
  • Axie Infinity is targeting a 23% jump to surpass the $13 marker
  • AXS needs to close today’s session staying above $10.3 for it remain bullish

At the time of this writing, AXS was trading at $10.47 and has gone up by 12.7% and 16.1% during the last seven and 14 days, respectively.

Although it is still down by almost 18% for the past month, the altcoin is showing signs of a bullish rally that could make it breach the $13 marker.

A Clear Path For Axie Infinity Recovery

During the last few days, the cryptocurrency’s price movement was caught in a double bottom pattern that established $8.5 zone as base support region.

Source: TradingView

Following the recent rally of the crypto market, Axie Infinity managed to bounce back from that crucial zone and surpassed the $10.3 marker with its 24.5% surge.

This kind of performance enabled AXS to turn the tides in its favor, getting out of its bearish cycle and is now looking to make a decisive push with the aim of increasing its spot trading price by more than 23%.

In order to do that, the digital currency needs to make sure that it will keep the $10.3 range as today’s sessions come to an end. If that happens, the virtual coin will push its changing hands value to $13.15.

Traders, however, must watch this condition like a hawk, as the bullish thesis will easily be invalidated if AXS fails to hold its current position right now.

Still Feeling The Pressure From AXS Vesting Period Expiration

Undeniably, AXS is still feeling the effects of the tremendous selling pressure that it experienced when vesting period for the asset ended on October 24.

In the crypto space, such event is usually followed by significant price dumps as sellers, after a considerably long wait, finally get the chance to sell their holdings.

Vesting period refers to a specific length of time when early investors for a project or a crypto token such as Axie Infinity are required to hold their investments, making them unable to cash out as new investors come in.

When the unlock schedule came on October 26, AXS struggled to reach the $10 marker even though the crypto market initiated a bullish rally in order to reclaim the $1 trillion market cap turf.

The cryptocurrency now has a chance to return to its bullish ways provided that it can sustain its current range and avoid further decline.

AXS market cap  at $1 billion on the weekly chart | Featured image from Bitcoin News, Chart: TradingView.com

Disclaimer: The analysis represents the author's understanding of the crypto market and should not be construed as investment advice.



Source link

Tags: 6monthAxieAXSInfinitylossrecoupRise
Previous Post

Government resumes sugar exports; allows 6 mn tons on quota basis till May 31 – Details

Next Post

China posts 6-month high Covid count as it sticks with strategy

Related Posts

Dogecoin Could Detonate Shorty, Says Analyst—Here’s The Target

Dogecoin Could Detonate Shorty, Says Analyst—Here’s The Target

by Jake Simmons
July 3, 2025
0

Motive to belief Strict editorial coverage that focuses on accuracy, relevance, and impartiality Created by trade consultants and meticulously reviewed...

AEON Partners With Mesh to Unlock Crypto Payments From Major Exchanges and Wallets

AEON Partners With Mesh to Unlock Crypto Payments From Major Exchanges and Wallets

by Media
July 3, 2025
0

This content material is offered by a sponsor. PRESS RELEASE. AEON, the next-generation crypto cost framework, has built-in Mesh, the...

What are address poisoning attacks in crypto and how to avoid them?

What are address poisoning attacks in crypto and how to avoid them?

by Cointelegraph by Callum Reid
July 3, 2025
0

Key takeawaysDeal with poisoning includes sending small transactions from pockets addresses that carefully resemble a reputable one, tricking customers into...

Can Crypto Perpetuals Challenge This?

Can Crypto Perpetuals Challenge This?

by Ming Wu
July 4, 2025
0

For many years, retail merchants have sought instruments that supply each entry and agility in international markets. But, most of...

Meebits Joins Telegram To Grow Its NFT Ecosystem

Meebits Joins Telegram To Grow Its NFT Ecosystem

by Dominic Kimani
July 3, 2025
0

Be part of Our Telegram channel to remain updated on breaking information protection Telegram, a famend a cloud-based, cross-platform, social...

Pengu Is Red-Hot with 61% Weekly Gains, Memecoin Market Surges, First Solana Staking ETF Gains M, and More…

Pengu Is Red-Hot with 61% Weekly Gains, Memecoin Market Surges, First Solana Staking ETF Gains $12M, and More…

by Bogdan Patru
July 3, 2025
0

Trusted Editorial content material, reviewed by main trade specialists and seasoned editors. Advert Disclosure Get Early Alpha with Our Speedy...

Next Post
China posts 6-month high Covid count as it sticks with strategy

China posts 6-month high Covid count as it sticks with strategy

Control Of The Senate Could Rest On Abortion And Inflation In Nevada

Control Of The Senate Could Rest On Abortion And Inflation In Nevada

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trump’s ‘big beautiful bill’ passes SALT deduction limit of ,000

Trump’s ‘big beautiful bill’ passes SALT deduction limit of $40,000

July 3, 2025
Democrats Vow To Tell Every Battleground Voter What Republicans Have Done To Them

Democrats Vow To Tell Every Battleground Voter What Republicans Have Done To Them

July 3, 2025
GVK Power lenders to restart IBC process

GVK Power lenders to restart IBC process

July 4, 2025
A Planet with a Death Wish: How HIP 67522 b Is Forcing Its Star to Explode

A Planet with a Death Wish: How HIP 67522 b Is Forcing Its Star to Explode

July 3, 2025
Chelsea vs Palmeiras: FIFA Club World Cup – teams, start time, lineup | Football News

Chelsea vs Palmeiras: FIFA Club World Cup – teams, start time, lineup | Football News

July 3, 2025
Dogecoin Could Detonate Shorty, Says Analyst—Here’s The Target

Dogecoin Could Detonate Shorty, Says Analyst—Here’s The Target

July 3, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Trump’s ‘big beautiful bill’ passes SALT deduction limit of $40,000

Democrats Vow To Tell Every Battleground Voter What Republicans Have Done To Them

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In