Axie Infinity price prediction states that after experiencing downtrends as it enters 2022, the movement of the NFT game hints big surge.
Since its all-time high on November 6, 2021, the Axie Infinity price crash has been on a steady decline.
The harsh downtrend, on the other hand, found a support confluence, indicating a bottom and a probable reversal.
Coinjournal states that in recent months, AXS has been one of the most popular blockchain gaming tokens.
In terms of pricing action, it's been a roller coaster ride as well. After attaining yearly highs of $160 in 2021, we've had a corrective period since then.
Axie Infinity Price Signals Bullish
On Nov. 6, 2021, Axie Infinity's price dropped nearly 60% from its all-time high at $165.25. Furthermore, on January 10 the AXS set a swing low at $65.12
However, the daily demand zone, ranging prices from $58.22 to $69.22 formed a bottom deep within suggesting that an uptrend is around the corner.
As reported by FXStreet, while this is a bullish signal in and of itself, AXS also managed to recover above the weekly support level of $71.69, bolstering the bullish outlook.
Axie Infinity price prediction is expected to make a push to reach the $95.07 weekly resistance barrier, which coincides with the 50-day Simple Moving Average (SMA), in the next weeks.
Furthermore, it's most likely where the bulls would set a local high since this signals a run-up would be a 30% increase.
AXS, on the other hand, has the potential of increasing the total gain to 47 percent, a chance to break through the next barrier at $107.23.
Axie Infinity Price Prediction
According to Daily Hodl, significant price spikes could be coming for seven different altcoins based on under-the-radar data as stated by the crypto intelligence firm Santiment.
Raising the probability of an incoming short squeeze is seen in the behavior of an excessive number of short-sellers are piling into altcoins as added by Santiment.
Santiment sees certain bullish on-chain indicators looming behind the scenes for Bitcoin, the most valuable crypto asset by market cap.
BTC is rushing out of exchanges at a rate not seen since 2018, according to the firm's research, suggesting that another significant liquidation event is less imminent than market action suggests.
Major Price Surge on Altcoins
According to crypto intelligence firm Santiment, the prices of Binance Coin (BNB), Axie Infinity (AXS), and Monero (XMR) are likely to surge in the next few days.
Furthermore, the price increase would not only affect BNB, AXS, and XMR, but also other significant altcoins such as XEM, Ankr, SC, and DGB, as stated by Investing.com.
Santiment made the statement as an on-chain prediction, primarily for the digital assets specified.
Price Analysis
The play-to-earn game has seen a surge in popularity and adoption. With that, Axie Infinity became one of the most popular play-to-earn games.
As a result, over the course of the year 2021, the market capitalization of the game's token AXS increased.
The Axie Infinity ecosystem and game's makers, Sky Mavis, have released their roadmap through 2022. Axie Infinity's intentions for the play-to-earn gaming environment have generated a bullish narrative.
The price movement of Axie Infinity has been assessed by FXStreet analysts. After a reversal, analysts expect that Axie Infinity will begin a positive trend. According to the analysts, the play-to-earn token has a lot of upside potential.
