Briefly –
- AXS price movements highlight bullish continuation.
- Bulls remained dedicated, defending the alt from further downward pressure.
- Nevertheless, Axie Infinity has plunging risks.
Axie Infinity (AXS) seems to stabilize in the value area within the $90 – $100 range. Moreover, the $5.0/three-box reversal Point &Figure exhibit shorting signals and massive buying. The altcoin can experience an over 40% surge towards $170.
Axie Infinity boasts two powerful trade patterns for either market. Nevertheless, the long trade idea has chances of playing out as far as long-term sessions are concerned. The short entry has a higher possibility of emerging according to AXS’s current position – but downward risks remain minimal and unlikely to hit the anticipated profit target.
The theoretical entry is a $170 profit target, $105 stop loss, and $120 buy stop order. The trade presents 3.33:1 risk/reward formation with a disguised 44% surge. Meanwhile, a 2-box trailing stop may protect profits attained after entry.
However, triggering the short entry before the buy stop will invalidate the trade setup. The hypothetical idea is a $35 profit target, $100 stop loss, and $85 sell stop-order. The short entry comes from a bearish catapult, a massive bearish pattern in Point & Figure. Nevertheless, the setup emerging around the swing low might lead to a bear trap.
The predicted profit target comes from the Vertical Profit Target. However, AXS’s price might not hit such extreme lows. Meanwhile, triggering the mentioned long entry before hitting the sell stop will invalidate the short entry.
For now, AXS price hints at a rebound, eyeing upside levels at $170. The alternative token seems ready to continue its bullish movements as bulls vigorously protected Axie Infinity from more downward momentum.
Nevertheless, the altcoin has not escaped the woods completely. Axie Infinity exhibits downside risks. With that, the coin might depend on the broad market sentiments for its upcoming movements. Bullishness across the crypto spectrum will see AXS overcoming its hurdles for upward trends.
Meanwhile, crypto experts believe tokens will experience bullish moves in 2022 Q1, projecting upswings for many crypto tokens. It may be fascinating to witness the up-and-coming reactions in the cryptocurrency industry. Stay around for the latest developments in the space.
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