AXS Price Goes Up +25% as ‘Axie Contributors’ Pilot Launches

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

  • Axie Infinity is up 20.87% today against the US Dollar
  • Axie Infinity’s price increase on Monday is a result of an initiative aimed at increasing the decentralization of the Axie Infinity ecosystem
  • AXS/BTC increased by 18.88% today
  • AXS/ETH increased by 17.54% today
  • Axie Infinity is currently trading 64.46% above our prediction on Dec 10, 2022
  • Axie Infinity dropped -25.82% in the last month and is down -93.10% since 1 year ago
Axie Infinity price $ 8.19
Axie Infinity prediction $ 4.98 (-39.19%)
Sentiment Neutral
Fear & Greed index 26 (Fear)
Key support levels $ 6.78, $ 6.66, $ 6.60
Key resistance levels $ 6.96, $ 7.02, $ 7.13

Axie Infinity (AXS), a popular non-fungible token (NFT) game in which players buy creatures and use them to battle and explore a virtual world, drew significant amounts of market interest today. The game’s native governance token AXS increased from $6.80 to a daily high of $8.51 as a result.

The +25% price change was driven by the launch of the Axie Contributors pilot season, which is part of an initiative announced in March 2022 by the Axie Infinity team, aimed at increasing the decentralized aspect of the ecosystem via community governance of the Axie Community Treasury. 

“Each season 0 contributor will soon receive an acceptance letter, a Discord role, and access to a newly created “Governance” section in the Axie Infinity Discord,” wrote the team on its substack. In total, nearly 700 participants (called Lunacians) have joined the pilot season.

AXS price is expected to drop by -39.19% in the next 5 days according to our Axie Infinity price prediction

Axie Infinity price today is trading at $ 8.19 after gaining 20.87% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 20.40% in the same time period. AXS performed well against BTC today and recorded a 18.88% gain against the world’s largest cryptocurrency.

According to our Axie Infinity price prediction, AXS is expected to reach a price of $ 4.98 by Dec 10, 2022. This would represent a -39.19% price decrease for AXS in the next 5 days.

AXS Price Prediction Chart

Buy/Sell Axie Infinity

What has been going on with Axie Infinity in the last 30 days

Axie Infinity has been displaying a negative trend recently, as the coin lost -25.82% in the last 30-days. The medium-term trend for Axie Infinity has been bearish, with AXS dropping by -42.61% in the last 3 months. The long-term picture for Axie Infinity has been negative, as AXS is currently displaying a -93.10% 1-year price change. On this day last year, AXS was trading at $ 118.76.

Axie Infinity reached its all-time high price on Nov 06, 2021, when the price of AXS peaked at $ 163.89. The current AXS cycle high is $ 9.97, while the cycle low is at $ 5.77. AXS has been displaying high volatility recently – the 1-month volatility of the coin is at 15.40. Axie Infinity recorded 14 green days in the last 30 days.

Axie Infinity technical analysis for today – Dec 05, 2022

The sentiment in the Axie Infinity markets is currently Neutral, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 6.78, $ 6.66 and $ 6.60, while $ 6.96, $ 7.02 and $ 7.13 are the key resistance levels.

Neutral sentiment for Axie Infinity

14 indicators are currently signaling a bullish prediction for Axie Infinity, while 13 indicators are showing a bearish forecast. With 52% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Axie Infinity.

Crypto market is currently experiencing Fear

Currently, the Fear & Greed index is at 26 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Axie Infinity moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Axie Infinity is positioned in the market right now.

 

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential
MA3 $ 6.86 (BUY) $ 6.74 (BUY)
MA5 $ 6.88 (BUY) $ 6.84 (BUY)
MA10 $ 6.77 (BUY) $ 6.82 (BUY)
MA21 $ 6.87 (BUY) $ 7.01 (BUY) $ 12.56 (SELL) $ 12.72 (SELL)
MA50 $ 8.17 (BUY) $ 8.19 (BUY) $ 31.52 (SELL) $ 26.08 (SELL)
MA100 $ 10.58 (SELL) $ 10.61 (SELL) $ 38.58 (SELL) $ 34.10 (SELL)
MA200 $ 13.74 (SELL) $ 17.80 (SELL)

 

 

Period Value Action
RSI (14) 44.50 NEUTRAL
Stoch RSI (14) 48.75 NEUTRAL
Stochastic Fast (14) 60.74 NEUTRAL
Commodity Channel Index (20) -66.67 NEUTRAL
Average Directional Index (14) 5.14 NEUTRAL
Awesome Oscillator (5, 34) -0.71 NEUTRAL
Momentum (10) -0.20 SELL
MACD (12, 26) 0.13 NEUTRAL
Williams Percent Range (14) -39.26 NEUTRAL
Ultimate Oscillator (7, 14, 28) 49.23 NEUTRAL
VWMA (10) 6.77 SELL
Hull Moving Average (9) 6.95 SELL
Ichimoku Cloud B/L (9, 26, 52, 26) 8.05 NEUTRAL

 

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Axie Infinity is at 44.50, suggesting that AXS is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Axie Infinity over the last 50 days. Currently, Axie Infinity is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the AXS closing price for the last 200 days. AXS is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Axie Infinity prediction

After considering the above factors, we can conclude that the current forecast for Axie Infinity price prediction is Neutral. AXS would have to decrease by -39.19% to hit our $ 4.98 target within the next five days. Moving forward, it will be important to monitor the AXS market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Axie Infinity price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

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