Price Analysis

NFTs Back in Action, Axie Infinity(AXS), Apecoin(APE) Price Maintain Strong Uptrend!

Written by: Sahana Vibhute

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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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Apr 12, 2022

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The global crypto market capitalization continues to deplete by another 2.13% to stand below $1.9 trillion. As the star crypto, Bitcoin is struggling hard to sustain above $40,000 some of the assets comfortably lay down a notable uptrend. The popular NFTs like Axie Infinity (AXS) and Apecoin(APE) hold the upswing tight nullifying all the odds. 

Axie Infinity (AXS) Price Analysis

Axie Infinity (AXS) price is again testing the crucial support levels and attempting to validate a strong rebound. Now when the market is trembling down from the earlier, the AXS price ignited a significant uptrend. However, the price is currently consolidating heavily just below $50 and waiting for a significant push towards these levels. 

The price is currently swinging within a bullish flag and hence consolidating in healthy ranges. After a brief consolidation, the AXS price may eventually breakout and rise high to test the higher ranges at $50 initially and later at $52. However, after a notable uptrend, the price is expected to undergo a notable pullback due to some exhaustion. 

The RSI in STF is on the verge to plunge down while the buying volume appears to have eased a little. And hence the price could face a minor pullback towards $45 amid the consolidation. Once these levels are successfully tested and cleared then the upper target may be reached by the end of the day’s trade.

Apecoin (APE) Price Analysis

Apecoin on the other hand has successfully tested and cleared the double bottom pattern and heading strongly towards the immediate resistance above $12. After its gigantic inception in the trade, the APE price had undertaken a narrow trend for a while. However, the asset appears now poised for a healthy uptrend as, despite rejections, the price decouples from the market trends to rise high. 

The price is facing a minor pullback at the moment and hence a possibility of a pullback is pretty much possible towards the lower support. And hence a retest towards $11.3 appears quite probable before igniting a notable upswing. The upswing could validate a rise beyond $12 initially which may be tested and cleared in an upcoming couple of days. 

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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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