Axie Infinity (AXS): Failure to Hold Vital Support Might Mean 13% Drop

ByDawn Pipkin

Jan 18, 2022
  • Axie Infinity seems primed for a 13% fall as the remittance coin nears a vital support line.
  • Slicing beneath $75.07 might translate to further falls to $66.61.
  • AXS might secure footing at $72.20 before plunging further.

Axie Infinity (AXS) remains vulnerable to downtrends if the altcoin fails to keep a critical support zone. Slicing under $75.07 might mean trouble for AXS bulls as the primary technical pattern suggests a 13% drop towards a value level of $66.61.

AXS Bears Eye $66 Next

Axie Infinity price created a climbing wedge setup on the four-hour chart, indicating a bearish bias for the altcoin. For now, AXS nears a crucial defense line around the prevailing chat pattern’s lower boundary at $75.07.

AXS slicing under the mentioned support area might mean a 13% downward move towards $66.61. The altcoin might drop lower to 50 4Hr Simple Moving Average around $74.34 before sliding to hit 78.6% FIB retracement zone of $72.20, the level standing around the Momentum Reversal Indicator’s support line.

Additional selling momentum might have AXS falling to the 9 January low of $68.86 before the token attains the prevailing chart’s bearish target at $66.61, matching the 19 September peak.

AXS bulls may step up to reversing the underperformance period. That will see the alt meeting the immediate resistance zone at the 61.8% FIB retracement mark of $77.68. The level matches the 21 4Hr Simple Moving Average.

The altcoin might encounter other hurdles at 100 4hr Simple Moving Average around $79.47. The next one at 50% retracement mark near $81.53 before buyers aims the governing technical setup’s upper border at $85.53, the level where 38.2% FIB retracement zone sits.

For now, Axie Infinity bears appear ready for a 13% drop to explore levels at $66.61. The alt might discover a footing at $72.20 before AXS encounters further falls.

Meanwhile, the overall crypto space has witnessed bearish dominance since yesterday. The global cryptocurrency market capitalization recorded a 2.09% 24-hour loss to $1.99 trillion. Maintaining such developments will mean Axie Infinity bears attaining their bearish aim. Meanwhile, Bitcoin sustains losses, trading around $41,787 at this publication.

Stay tuned for more cryptocurrency updates.

Editorial credit: TongRoRo /

The information provided on this website should not be interpreted as financial or investment guidance and may not embody the perspectives of Forex Tools Trader or its contributors. Forex Tools Trader does not hold responsibility for any financial setbacks experienced due to the use of information provided on this website by its writers or patrons. It's essential to thoroughly investigate and make informed decisions before entering any financial commitments, particularly concerning third-party reviews, presales, and similar ventures. The content you are viewing may be sponsored content, read our full disclaimer to learn more.

Don't Miss Out!

cypher mind hq logo 1-01

Artificial Intelligence Trading Software

CypherMindHQ Trading Robot, OpenAI (ChatGPT4) Enabled - The Best AI Trading System Ever Created

Sign Up

Try Crypto Engine With a Trusted Broker