Axie Infinity is one of the most popular Play 2 Earn games in the crypto space. The cryptocurrency AXS peaked at around $165 in November 2021 and has since declined. Currently, the price is around $50 after an extended consolidation phase. In this article, we take a closer look at Axie Infinity’s chart to assess how the price might move going forward. A 100% price increase might happen, which is why the AXS chart is very interesting at the moment!
What is Axie Infinity Crypto Game?
Axie Infinity is developed by Sky Mavis, a technology-focused game studio founded in early 2018. The whole Axie ordeal is inspired by Pokemons and Tamagotchi games. Axie Infinity is classified as an NFT game, that allows individuals to earn currency from playing the game as they breed, race, battle, and trade Axie creatures in the marketplace. Axie Infinity’s mission was to function as a fun and educating way to introduce the world to blockchain technology. Many of the developers and the team members met from plating Cryptokitties, which then evolved to them working on the Axie game and introduce the magic of blockchain technology to players.
All art assets and Axie data can be accessed by third parties, allowing the community developers to build their own tools and experiences to improve the Axie Infinity universe. The difference between Axie and our traditional games is that blockchain economic design rewards their players for contributing to the ecosystem. This means that the more you contribute to the Axie universe, the more rewards to reap.
Is Axie Infinity Price up?
Axie Infinity price is down about $100 in the last few months. During the descent, the price formed a trend line that could be broken at any time. AXS also has a support area near $44, which represents a very attractive buy zone. The price will have to make a direct decision soon, which is why we anticipate that the Axie Infinity price could break out. The crypto market is generally somewhat bullish currently, which is why we anticipate a bullish breakout. Thus, the price could break the trend line this week. This would lead to a short-term uptrend.
Axie Infinity Price Prediction – Where will AXS reach?
If the Axie Infinity price breaks out bullishly, which we assume it will, the price could gradually work through the resistance in the weekly chart. Once the price breaks the trend line, we expect a fairly quick rally to $64. There is the first stronger resistance. If the price breaks this resistance, Axie Infinity could rally to $80 and then $96. Since the last resistance is near $100, we do not expect the price to go higher than $100 since that is where the psychological $100 level is.
