Briefly–
- Axie Infinity seems ready for an ATH exploration as the altcoin approaches a critical resistance level.
- Bulls target a 60% upswing if the al breaks beyond the primary chart pattern.
- Meanwhile, AXS should confront the obstacle at its peak at $155 before climbing to $200.
Axie Infinity (AXS) gears towards a new ATH after the crypto displayed an explosive bullish pattern, suggesting a 60% upswing. If the alternative coin overcomes the critical resistance trend-line, it will surge to price levels beyond $200.
AXS Ready for another ATH
Axie Infinity created a bullish pennant formation on the twelve-hour price chart, hinting that AXS has sentiments for a massive upside move. The primary technical pattern projects a bullish target of 60% upswing to $215.
Meanwhile, AXS has one vital resistance zone to challenge before touching the anticipated all-time high. The initial hurdle is around the descending trend-line that serves as the chart pattern’s upper border at $136.
The alternative coin might have an additional headwind near 78.6% FIB retracement at $144. After that, it can rise to confront the record high of around $155. More hurdles might emerge at 127.2% FIB extension of $160 and 161.8% FIB extension at 4187 before the token attain the bullish aim at $215.
Market players should beware that magnified buying momentum is essential for Axie Infinity to move beyond the primary resistance trend-line of the bull pennant formation for a breakout confirmation. Nevertheless, bulls failing to support the case might see AXS retracing towards the 50% FIB retracement at $129. The altcoin can also move lower to the 21 12Hr and 50 12Hr SMAs, converging at $125.
Meanwhile, Axie Infinity might secure additional support around the 38.2% IB retracement zone at $122. Increased selling momentum might see AXS falling to the bull pennant’s bottom border at $121. However, market players should not expect the asset to tag lower price levels unless with amplified selling orders. Such developments can witness Axie Infinity falling to 100 12Hr Simple Moving Average at $96.
Do you think that AXS will hit the projected pick? We are ready for your opinions. Comment below.
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