- Ecosystem released $64 million worth AXS-locked tokens.
- Prices saw a rise despite token unlock.
- Prices rose by nearly 40% in the 7 days.
AXS, the native token of the web3 game Axie Infinity, surged nearly 40% in the past few days. Due to the rally, the token earmarked a new four-month high. The rise is attributed to the unlocking $64 million worth of AXS-locked tokens. Although token unlocking is said to have a decreasing effect on the token value, AXS saw a rocket propelling to mark new highs.
Axie Infinity witnessed a deserted platform in the aftermath of the $650 million Ronin bridge hack. Interest in the coin is perhaps being rekindled by the performance of the original play-to-earn (P2E) coin, AXS, helping to refocus investor and trader attention on the coins in the P2E segment.
The current token unlocking was relatively smaller in size. The next unlocking is scheduled in May, is bigger and can send the token in bearish momentum.
នេះជាអ្វីដែលតារាងបង្ហាញ
The AXS prices show a possibility of a bull flag after the price rocket. The EMA ribbon lies below the current price action, with a bullish crossover being formed (green circle). The volume shows high volatility, along with turbulent OBV, giving out ambiguous signals. Prices may go into a bearish momentum post-unlocking in May.
The CMF lies akin to the zero-mark to show neutral market persisting. The MACD records buyer bars, while the lines split in the positive zone. The buyer interest improves along with seller interest as both rise together. The RSI holds a spot close to the 70-range to display buyer pull in prices.
4 ម៉ោង POV
The closer time frame suggests prices to face staggered rise. The rising prices are met with sellers who wish to book profits. The CMF slips to the zone below the baseline to show a sideways movement. The MACD records sellers bars with lines diverging under seller influence. The RSI moves closer to the 50-range to show declining buyer grip.
សន្និដ្ឋាន
The token defied the theoretical movement after the token unlocking. A bearish momentum is predicted to occur after May unlocking. The holders must watch for the support near $8.07.
កំរិតបច្ចេកទេស
កំរិតគាំទ្រ៖ ១.៥០ ដុល្លារនិង ១,៤០ ដុល្លារ
កម្រិត Resistance: ២,០០ ដុល្លារនិង ២.៥០ ដុល្លារ
ការមិនទទួលខុសត្រូវ
ទស្សនៈ និងគំនិតដែលសរសេរដោយអ្នកនិពន្ធ ឬមនុស្សណាម្នាក់ដែលមានឈ្មោះក្នុងអត្ថបទនេះគឺសម្រាប់គោលបំណងផ្តល់ព័ត៌មានតែប៉ុណ្ណោះ ហើយពួកគេមិនបង្កើតហិរញ្ញវត្ថុ ការវិនិយោគ ឬដំបូន្មានផ្សេងទៀតទេ។ ការវិនិយោគលើ ឬជួញដូរទ្រព្យសកម្មគ្រីបតូមកជាមួយហានិភ័យនៃការបាត់បង់ហិរញ្ញវត្ថុ។
Source: https://www.thecoinrepublic.com/2023/01/27/axs-players-fled-the-platform-can-prices-rise-back/