• Axie Infinity price is currently trading at the $12.53 level and is likely to step above $15.
• Axie Infinity is trading above the 9-day and 21-day moving averages and is supported by resistance levels of $18, $20, and $22.
• If the bulls continue to increase the bullish movement, the digital asset might cross above the channel and touch the resistance levels.
Axie Infinity is currently in the limelight as the digital asset continues to experience a strong recovery from the daily opening price of $12.53. At the time of writing, Axie Infinity is changing hands at $12.55, trading around the upper boundary of the channel. The Axie Infinity price is supported by the 9-day and 21-day moving averages, indicating that the bulls are in control of the market.
The bulls have been able to push the Axie Infinity price above the daily high at the $13.94 resistance level. With the current bullish momentum, the digital asset is likely to cross above the channel and touch the resistance levels of $18, $20, and $22. In other words, any strong selling pressure below the 9-day moving average may drag the price toward the lower boundary of the channel if the bears step back into the market.
Axie Infinity is currently the 41st largest cryptocurrency by market capitalization, with a total market cap of $1.27 billion and a circulating supply of 100.1 million AXS tokens. The digital asset has a total supply of 270 million AXS tokens and is becoming increasingly popular within the crypto space.
Investors should watch out for any developments in Axie Infinity as it may have a positive effect on the price. A successful breakout above the $15 resistance level could trigger further gains in the coming days. Similarly, if the bears manage to break the support levels of $8, $6, and $4, the price could experience a sharp decline. Therefore, investors should closely monitor the market in order to stay ahead of the game.