Price Analysis

AXS Price Breaks The Trend While GRT Price Is Attempting Hard!

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Highlights

    Axie Infinity broke the extended downtrend, while the Graph token appears to follow the footsteps to smash higher levels

    The rally could uplift the price to the next resistance level which resides at nearly 20% from the current price levels

Axie Infinity Eyes $200 Price Zone!

AXS price had a pretty good start with a more than 100% jump in the initial couple of days of Q4. The price soon got exhausted and began to trend within a very narrow margin, yet sustained strongly above $100. However, with the recent price surge, the asset managed the breach through the levels which it attempted to do for quite a long time. 

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axschart
Source: Tradingview

The asset smashed its monthly highs above $160 at the beginning of this month, however, the bears quickly jumped in to extract their profits. Therefore, AXS price initiated a narrow trend between $113 and $137 for almost a fortnight. With the squeezed trend, the price traded within a descending triangle and a breakdown to its previous levels appeared imminent. 

However, with the present-day surge, the AXS price after a couple of attempts finally broke the pattern and propelled high. The indicators also took a nice rebound from the bearish divergence. However, the immediate and strong support levels reside at $151 and hence this level may be the threshold for the upcoming bull rally. 

Also Read: Is It Right Time To Buy Shiba Inu(SHIB) Or Selling Is A Better Option?

The Graph Token Poised To Hit $2

The Graph token price since the mid-may crash is struggling very hard to rebound from the bearish trend. Yet with the recent parabolic move, the price is currently testing the crucial levels which could determine the upcoming move. However, the price is still struggling very hard to breach these levels, which may occur anytime from now. 

grtchart
Source: Tradingview

GRT price kept sliding since the last few days of August and bottomed hard at $0.6 by the end of September 2021. However, the asset bounced back after trending at the bottom during mid-October and testing crucial resistance at $1.05. A notable spike from these levels could ignite a rally towards the next levels at $1.6. 

Collectively, both the assets, AXS price and GRT price showcase a pretty strong uptrend in the upcoming days. And hence, smashing the initial resistance levels could be imminent. However, the confirmation would be completely based on the confirmations.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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