There is a general expectation that the dollar will depreciate against the Chinese yuan (CNY) and the Japanese yen (JPY) in the coming months. The dollar index (which measures the US dollar against a basket of other currencies) has been under pressure against both these currencies in the past few months. For example, against the JPY, the dollar index is currently at its lowest level since April 2008.
As you may know, the last time the Dash/USD pair (AXS) broke $60 was back in over 8 months ago. Since then, we’ve seen the price of Dash stabilize within a range of $35 to $67. Rather than being a bunch of speculation, I’m going to run through a few of the recent reasons why I believe that the price of Dash may be about to break out of the $60 range.
Dash is preparing for a rally against $77 ATH after a series of events this week has created a perfect storm of conditions that is creating a perfect environment for Dash to take over the crypto industry.. Read more about btc down usdt and let us know what you think.
- Today’s Axie Infinity price analysis is positive.
- The bitcoin market as a whole is trading in the green.
- Bulls took a big stride forward after hitting an all-time high of $77.48 on August 11th.
Price Analysis of Axie Infinity: A General Overview
After the market recovered from yesterday’s low around $71 in the early morning hours, Axie Infinity price analysis is optimistic for today. After hitting an all-time high of $77.48 on August 11th then retracing 10 points lower, this was a big stride forward for the bulls. The current rally aims to reclaim above support around $75 and build enough impetus to achieve high objectives over $80.
For the last few weeks, Axie Infinity’s native token, AXS, has been on a tear. However, when the currency continued to reach new highs, traders began to take gains since prices had risen too high. As a result, the virtual currency has retraced to lower highs.
The bitcoin market as a whole is trading in the green. Bitcoin and Ethereum, the market leaders, have risen 1.50 and 2.30 percent, respectively. Dogecoin set a new high gain of 11% in the past 24 hours, making it the top performer. With a loss of 2.20 percent, Cardano is the poorest performance.
The price of Axie Infinity has changed in the past 24 hours.
In the past 24 hours, AXS/USD moved in a daily range of $67.6 – $71.042, suggesting moderate volatility. The trading volume of Axie Infinity dropped by 4.24 percent to $844 million. Axie Infinity’s entire market value, on the other hand, increased by 3.56 percent to about $4 billion.
4-hour pricing study by Axie Infinity
The currency is trying to break resistance at $69.00 on the 4-hour Axie Infinity price analysis. A price barrier that has drew the bulls closer to $65. The currency has already made significant gains between $70 and $77, and there is a good possibility that it will challenge those prior highs in the coming hours. AXS/USD is currently trading at $68.744 at the time of writing.
A break above $70 may open the door to $81 or perhaps the psychological barrier of $100, while a fall below the 20-day EMA could lead to a more significant drop.
TradingView is the source of this information.
Conclusion of the Axie Infinity pricing analysis
The Axie Infinity price analysis for today is optimistic, as we expect the digital currency to rise more in the next 24 hours. As a result, we anticipate the bulls to push the price higher and support a consolidation that takes it over the ATH of $77.
While $77 is a long way off as a technical target, it is still a hard level to defy. It would be a solid first step to $80, and would allow us to justify selling our AXS, and take profits for the first time since early 2016.. Read more about buy axs on binance and let us know what you think.
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