Axie Infinity's AXS Price Looks Strong Daily as It Resurges Near a Key Resistance Level

Following an 11% gain in the past 24 hours, Axie's AXS price looks strong daily as it resurged near a key resistance. Painting a green scenario on the day, it signals a buy and looks ready for a new rally.

After an 11% gain in the last 24 hours, Axie’s (AXS) price looks promising on the daily chart as it signaled a buy and prepared for a new rally.

The late September drops caused a slight decrease in the crypto market this month, but AXS managed to find support after slipping below the $4.4 level last week. The price recovered and gradually gained momentum.

On Tuesday, the crypto briefly lost momentum and experienced a short three-day pullback. However, things took a positive turn again as the price surged to a daily high of $5.4. It retraced from this high due to rejection and reached a trading level of $5.1.

But observing the market structure, AXS appears strong on the daily chart, but the price is still trading in a range-bound after being subjected to a sideways movement two months ago. As the price remains trapped below the $5.5 level, a push above it could confirm a break out of the range.

This might activate a strong market buy as the price rallies. On the flip side, it might resume bearish if the price drops below the $3.8 level. From a technical perspective, more positive actions are to be expected as market sentiment slowly turns bullish.

AXS Key Levels To Watch

Breaking through the immediate $5.55 resistance, the next important level to watch for a buy is $6.5. Above it lies a minor resistance level of $7.7 before reaching the main $8.7 resistance.

The $4.8 level is considered a close support for a pullback. If the price drops below this level, $4.4 is the next support to watch along with the $3.84 level – the lowest price level this year.

Key Resistance Levels: $5.55, $6.5, $8.7

Key Support Levels: $4.8, $4.4, $3.84

This is not trading or investment advice, always do your research before buying any cryptocurrency or investing in any services.

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