Axie Infinity Price Crash Prediction: Experts Warn Potential Collapse

Axie Infinity (AXS) is now priced at $69.96.

Before the end of 2021, on December 28, AXS reached an all-time high of $110, however, it quickly dropped slightly at $91.48 on the first day of 2022, according to CoinMarketCap.

Cryptocurrency crash

Cryptocurrencies collectively have a major downturn – all from established cryptocurrencies and smaller altcoins; They all suffer from a drop in prices.

As reported by Cointelegraph, over the past seven days, the purchase price of Bitcoin has fallen by about 10%.

Unfortunately, it is expected to fall below the psychological support level of $40K, which it did as Bitcoin price is now at $41842.89.

In addition, the seventh largest cryptocurrency by market capitalization, Cardano (ADA), has fallen by about 11% in the past seven days bringing its latest price now to $1.15.

A similar drop has also occurred in Ripple from XRP, which is down around 10% and is now at $0.75.

Ripple ranks eighth among the largest cryptocurrencies by market capitalization, next to Cardano.

Furthermore, Terra (LUNA) is down over 20.50% and is now priced at $71.33.

The crash also did not rule out the original Ethereum token, Ether (ETH), which was down more than 16%.

However, some of the cryptocurrencies included in the top 50 digital assets have lost between 15% to 30% of their value in the last week.

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Infinite Axie Price Prediction

According to FXStreet, with all the declines in the cryptocurrency, as part of its Axie Infinity price prediction, it has stated that the price of AXS is expected to reach $46, but smaller and steeper price drops are possible.

The price of Axie Infinity continues to drop as profit taking continues in the metaverse and tokens area of ​​games.

There are also many factors influencing the price of Axie Infinity, and this includes issues of anxiety, skepticism, and skepticism about the impact of the broader cryptocurrency market, which in turn is reflected in the near-term price behavior.

The market behavior shown by AXS proves that it is on the verge of a massive meltdown.

Taken from the Ichimoku Kinko Hyo system, AXS will not find support on the weekly chart until the lagging range retraces to test candle bodies, with the closest support now around $43.

As a result, the 38.2% Fibonacci retracement was also found at $43.

Will Axie Infinity Price Continue Falling Or Rebound?

When the broader market recovers, Axie Infinity will likely struggle to regain its former pace as traders seek cryptocurrencies with higher bullish potential.

This is especially noteworthy given the number of major cryptocurrencies that posted significant gains in 2021.

Looking at the previous exponential growth of Axie Infinity over the past year, part of the Axie Infinity price forecast via FXStreet also indicates that the price of Axie Infinity will see a significant bounce soon.

The current state of its hook and at a steep angle is expected to indicate a bounce after the price crash.

In a bear market, the RSI moved from its first oversold low (30) to just over its last oversold level (20).

For both sides of the market, Axie Infinity price has two very powerful trading setups.

Between the two conceivable trade ideas, the concept of long trade is arguably the most likely to run in the long run. With that said, the price of Axie Infinity is expected to increase by more than 40% to $170.

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