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- Axie Infinity hit a new all-time high after jumping 40% overnight.
- The NFT game coin is up over 135% over the past week.
- Another increase in bullish pressure could push AXS up to $200.
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Axie Infinity has entered price discovery mode. More buying pressure could push AXS towards its next psychological resistance level, which is located at $200.
Axi Infiniti hits all-time high
Buyers are returning to the crypto markets, and Axie Infinity is taking advantage of this momentum. The NFT-based blockchain game coin reached a new all-time high of $154 after rising 40% in the past 24 hours.
Over the past week, nearly $193 billion has flowed into space. The sudden rise in buying pressure positively affected most digital assets.
For example, the two largest cryptocurrencies by market capitalization – Bitcoin and Ethereum – have risen in value by more than 10% in the past seven days. Other minimal coins, such as Solana, VeChain, and Theta, gained more than 20% of the market capitalization over the same period.
Several other coins, including Axie Infinity, rose to all-time highs. The asset has gained 86 points since September 28, which is a 135% price increase. AXS is now in price discovery mode, and there may be more gains on the horizon.
Axie Infinity Goals $200
The Tom DeMark Serial (TD) indicator has successfully predicted the Axie Infinity price action in recent weeks.
On the 12-hour chart, the technical indicator predicted that AXS was bound to resume its bullish trend as it provided a buy signal on September 21st. TD also flashed a sell signal on Oct 2nd which led to a correction of the candles twice before more. heights.
Now that AXS has cut its breakout line and set in four green candles, it looks like it is preparing for an all-new high. The TD setting indicates that Axie Infinity may rise for another five 12-hour candles before a sell signal appears. Another increase in buying pressure could push the asset towards the next psychological resistance level at $200.
As long as Axie Infinity continues to hold above TD’s breakout line at $133, the odds will continue to favor the bulls. However, a 12-hour candlestick closing below this critical support level may lead to a correction. Under these unique circumstances, AXS can dive to $120 or $100 to look for support.
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