The Axie Infinity price since the early trading hours manifested huge bullish momentum at regular intervals. Yet on reaching a specific resistance, the AXS price plunged drastically, mounting huge selling pressure. While in these conditions the price is expected to plunge to lower support may occur shortly. However, a notable plunge may hinder the rally for a while, yet in the longer time frame, the asset is quite bullish.
AXS price had swept below the $46 a couple of days before and recovered swiftly which ignited a 36% upswing. However, the AXS did attempt to slice through the important resistance around $55.11 but is currently sliding down a little. If in cases the buyers accumulate at a higher volume, then the next barrier at $59.06 may be cleared significantly. This may test the bull’s strength which may result in a bearish reversal.
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The AXS price amid the recent spike had attempted to range high, slicing through the pivotal price zones. However, quickly after hitting these levels. The asset began with a healthy consolidation. This was pretty much required to maintain the strength of the rally which may give a notable boost towards the north. And doing so the AXS price needs to clear some crucial levels. The local resistance is at $55 and the next is at $59. Once these levels are achieved, the rally may surge above $60 which may head towards the crucial resistance.
Collectively, the AXS price may surge with a huge 40% upswing. But if the price fails to hold above $51.48, then the bears may shed their gains off. And if in case a notable bearish trend may test the $45 levels. Yet the trend igniting a downtrend may eventually create a lower low shifting into the favour of bears and invalidating all the bullish scenarios.
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