The Axie Infinity token is likely to continue higher after reaching its highest price level of $154.63
The price of Axie Infinity’s AXS, an increasingly popular gaming token, has surged to a new all-time high of $154.63 after a stellar 24-hour performance.
As of writing, the AXS token is trading around $149 after some profit-taking deals. However, CoinGecko data shows that the cryptocurrency is still up by more than 37% in the past 24 hours and over 134% in the past week.
Axie Infinity price outlook
After breaking above the old resistance line around $92, AXS/USD surged higher and broke the barrier at $100 before retesting the $108 zone.
Another leg up has seen AXS price move above the psychological barrier of $150, with the surge to highs of $154.63 suggesting a break above $155 could open up AXS/USD for more gains.
On the 4-hour chart, a spike in volume and the positive outlook of the RSI suggest buy-side pressure. The price is also well above the 50 and 100 simple moving averages, whose curves are rising to indicate a bullish view.
AXS/USD 4-hour chart. Source: TradingView
If buyers sustain the upside momentum, a push towards $160 to $180 would provide the next objective and thereafter a potential continuation of the parabolic rally to $200.
On the contrary, a flip below the critical anchor at $138 could see AXS/USD retest the $116 zone. Bearish pressure at this price zone could accelerate a retest of the $100 support zone.
Credit: Source link
