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AXSUSDT trade ideas

AXS/USDTA low number of players means a low demand for AXS As a quick refresher, AXS serves as a payment token within the Axie Infinity game ecosystem, allowing players to purchase non-fungible tokens (NFTs), in this case the digital pets we all know as "Axies." It also acts as a utility token that players can spend to breed new Axies. New users entering the Axie Infinity ecosystem need 3 Axies to take on other Axies. When they win, the platform rewards them with another native token, called Smooth Love Potion (SLP) while winning bigger tournaments earns them AXS. Consequently, old Axie Infinity players rely on new ones to keep up the demand for Axies. Otherwise, they could risk former players selling their SLP and AXS earnings on the markets (e.g. cryptocurrency exchanges), thus adding downward pressure to their prices. But when native Axie Infinity token prices go down, it also makes the game less attractive to new players, who would still need to buy 3 Axies in order to earn SLP and AXS, only now they would be worth less. The Axie Infinity ecosystem has gone through stages, as mentioned above, in 2022, with its player count falling to 8,950 in June from 63,240 in January, a drop of almost 85%, according to data provided by Dapp Radar. Interestingly, this coincides with the 80% drop in the price of AXS in the same period. Inflation rising New inflation data has further curbed bullish bets on major cryptocurrencies, which, one way or another, fuels the bearish outlook for AXS. In particular, the US consumer price index (CPI) rose at an annual rate of 8.6% in May, compared to 8.3% in the previous month, accentuating investor fears that the Federal Reserve will be forced to raise interest rates aggressively in the coming months, which would push risky assets down across the board.
Short
by Ed_Ale
AXS/USDT Time to buy!Hey Colleagues, Today we came across AXS /USDT. From last time (21st of June) we have seen a bearish market for the AXS since then. We tend to hold this coin until $40 but if price should drop below $13 USDT then we suggest you to close this position. If you like ideas provided by our team you can show us your support by liking and commenting. Yours Sincerely, Swallow Team 🔱 Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Long
by SwallowAcademy
2
Axie Infinity (AXS) - August 3hello? Welcome, traders. If you "follow", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (AXSUSDT 1D Chart) Primary resistance: 20.89 Secondary resistance: 31.13 Support: 14.39-15.68 The key is to find support and move higher near 17.20. If it falls below 14.39 and is resisted, a Stop Loss is needed as it could lead to further declines. ------------------------------------------------------------ ------------------------------------------- ** All descriptions are for reference only and do not guarantee a profit or loss in investment. ** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points. ** Background color of Long/Short-S indicator: RSI oversold and overbought sections ** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed. ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
by readCrypto
1
AXSUSDT |Coin Review| hello trader Today I prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅ -Axie Infinity is a Pokémon-style digital pet universe built on the Ethereum blockchain where anyone can earn tokens through skillful gameplay and contributions to the ecosystem. -The asset is now in an ascending channel, I expect that the price will test the support of the ascending channel, after which we will most likely see a rebound for the third time. -Also pay attention to the first wave in the channel, the double bottom pattern. I already see the first drawings, they can expand before the lower border test.
Long
by DanilBlinkov
AXSUSDTPERP (SHORT)AXS is currently on its last wave using the Elliot Double Combo Wave labeled as W, X, and Y. We are currently on the corrective phase of the completed 5-wave pattern of wave Y. This is also supported by 3 bearish harmonic patterns namely Gartley, Cypher, and Anti-Gartley. Based on my personal experience when several harmonic patterns will have the same potential reversal zone (PRZ) the more likely the pattern will play out. DISCLAIMER: I do NOT offer financial advice. I am not a financial advisor. The content is for educational purposes only. YOU are responsible for your own investment decisions.
Short
by jaorcine