Surpassing the 200D EMA, the AXS price has recovered 62% in the last 40 days as it launches from the $4 mark. The bull run even exceeds the $7 mark and continues to gain trend momentum as the market recovers.
Moreover, there is a rising number of users on the Axie Infinity platform, fueling the bullish trend in the AXS token. The growing user base marks a 31% jump in the last 30 days, as per Dappradar, pumping the 30D Volume to $51.64M by 115%. The impressive 30D growth is in line with the AXS price prediction that keeps a bullish approach.
Moving to the technical price chart, the AXS price trend maintains a positive trend with a reversal from $4. The uptrend undermines the prolonging bear phase and exceeds the 200D EMA and increases the Golden crossover chances.
Moreover, the $7 breakout signals a rounding bottom breakout and marks a trend reversal journey. The 4-day streak of bullish candles leading to the $7 break finds the support of increasing trading volume, cementing the breakout credibility.
Currently, the AXS price trades at $7.05 with an intraday growth of 5.26% forming a bullish candle. However, the long wick questions the possibility of a downtrend.
Technical indicators:
EMA: With a bullish turnaround in the Axie Infinity token price, the 200D and 50D EMA tease a golden crossover. Following the crossover, the sentiments will improve significantly and result in a longer uptrend.
MACD Indicator: As the buying pressure grows, the MACD and signal lines give a positive crossover and support the breakout rally.
As the market recovery takes a breather, the next bull wave can fuel the AXS breakout rally. Moreover, the rising number of users over Axie Infinity signals a solid signal of recovery to tease a bull run.
Therefore, the growing positive sentiments and the rounding bottom breakout rally can boost the AXS price for a 35% jump to the $9.5 mark. Conversely, a fall below the $7 mark can retest the 200D EMA at $6.
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