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Axie Infinity price is at the helm of its recovery after exploding another 29% in 24 hours to trade at $12.86 at the time of writing. The NFT and gaming token extended the current green candle’s wick to $14.00, a price level that was seen last in September. It is plausible that the uptrend is just beginning and taking advantage of the push from the Chinese New Year.
It has become a norm for cryptocurrency prices to rally during the Lunar New Year (Chinese New Year). This year’s celebrations took place on January 22, based on the Lunar Calendar. During this time, over the counter (OTC) services are usually closed – a situation that escalates to an extremely volatile crypto market.
Axie Infinity Price Relentlessly Pushing To $20
Axie Infinity price needs a controlled hold above higher support, preferably above $12.00. This will pave the way for other macro and fundamental factors to catch up with the price momentum. Furthermore, it is the best way for AXS to prevent sudden distractive pullbacks likely to be caused by overhead pressure from a panic-selling wave to book early profits.
A buy signal from the Moving Average Convergence Divergence (MACD) indicator adds credence to the bullish outlook, which hints at a continuing uptrend. Investors seem convinced Axie Infinity price will keep the impetus intact.
There is a higher influx of funds into AXS markets as shown by the position of the Money Flow Index (MFI) at 76.09. This indicator resembles the Relative Strength Index (RSI) but tracks the volume to gauge the momentum of the trend. With the MFI rising into the overbought region, the path with the least resistance will likely stick to the upside.
Traders wishing to join the party now must wait for Axie infinity to confirm the uptrend before firing up their buy orders. It is worth noting that a retracement to $12.00, or even $10.00 will allow many sidelined investors to buy AXS ahead of the next move to $20.00.
Therefore, new buy orders may be placed above $10.00 if not $12.00 for an initial profit booking at the 200-day Exponential Moving Average (EMA) at $14.51. Stubbornly bullish traders may want to wait for $20.00 before cashing out.
Fundamentals Improve, Backing the Bullish Outlook in Axie Infinity Price
The number of new addresses joining the Axie Infinity network has over the last three weeks ticked up to 251 from January 1’s 85. According to IntoTheBlock, a similar growth pattern was reflected by daily active addresses currently at 750 from 264 in the same period.
The price has been increasing in tandem with these metrics, which means they positively influence AXS. In other words, Axie Infinity price is expected to continue climbing, as long as new and active daily addresses uphold the momentum.
Investors should consider locking in the gains if insight from IntoTheBlock’s IOMAP model is considered. This model groups addresses in clusters depending on the price at which they bought AXS tokens in the past.
For example, the region between $13.83 and $14.32 is home to 1,720 addresses that purchased 79.27 million AXS. As Axie Infinity price recovers, investors within this range will likely sell at various breakeven points which might stifle growth and lead to declines. Hence, the need for investors to tread cautiously while awaiting a possible move to $20.00.
Altcoins to Consider for Quicker Returns
To increase their returns significantly, investors may want to include a variety of presale tokens in their investment portfolio. History has shown that investing in altcoins at the presale stage, such as Tamadoge (TAMA), can lead to significant gains, with TAMA increasing by over 1,800% upon being listed on exchanges. Additionally, these new crypto projects have the potential to greatly impact the cryptocurrency industry.
Meta Masters Guild (MEMAG)
Investors with an interest in play-to-earn (P2E) crypto gaming platforms may direct their attention to Meta Masters Guild, the first mobile-focused web3 gaming guild. In this new ecosystem, users are rewarded for playing the games they enjoy in addition to a wide scope of contributions they can make to generate more revenue.
Meta Master Guild stands out from other P2E platforms such as Axie Infinity, The Sandbox, and Decentraland by prioritizing the development of games that players actually want to play, rather than solely focusing on monetization.
Meta Masters Guild (MEMAG) is selling quickly with over $1 million raised in approximately three weeks. The first round of presales sold out within a week. Currently, investors can purchase 1 MEMAG for $0.01, but the price will rise in the next round.
Visit Meta Masters Guild Now.
Fight Out (FGHT)
As many people move toward health and wellness, there is a growing demand for innovative solutions that make maintaining fitness more exciting and fulfilling.
Fight Out, a Web3 fitness app and gym chain utilizing a Move-to-Earn (M2M) concept, aims to meet this need by incorporating elements of gaming into the fitness experience. Users can earn rewards, badges, and progress within a dynamic ecosystem by completing workouts and challenges on the platform.
The app utilizes a currency called REPS, an off-chain in-app token, to reward users within the Fight Out ecosystem. The system operates on a subscription basis and users can use both FGHT and REPS tokens during sign-ups.
Fight Out presale has brought in $3.23 million and continues to sell out fast; investors must hurry before the price starts increasing in 12-hour intervals.
Visit Fight Out Now.
C+Charge (CCHG)
C+Charge is a new crypto project likely to pique the interest of EV drivers and other people championing a cleaner planet. The team behind C+Charge believes that every EV driver should also benefit from the perks of the carbon credit industry.
That’s why C+Charge is building a well-rounded mobile application to cater to the charging needs of electric vehicle drivers. This app will manage payments at charging stations in addition to other key features like a carbon credit tracker, payment options, charging station locator, and real-time charger wait times among others.
Investors interested in promoting green climate movements are rushing to buy CCHG in a presale that has raised $369k so far.
Visit C+Charge Now.
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