Axie Infinity Price Skyrockets To $140, AXS Is Boosted As Facebook Rebrands to Meta
Axie Infinity price skyrocketed to areas above $155 as the AXS reacted to the news that Facebook was rebranding to Meta. A rise above the immediate resistance around $150 could see AXS rise to tag new highs.
Facebook’s announcement on October 28 that it was rebranding to Meta was an affirmation of its ambitions to go beyond online social media to build a metaverse. These news triggered a speculative rally cross NFT and Gaming cryptos in the Metaverse.
Decentraland (MANA) jumped by as much as 80% between October 28 and October 29 with its market valuation exploding from $1.44 billion to over $2.08 billion in just 24 hours.
AXS, a native token to Axie Infnity, a Pokemon-styled “play-to-earn” pet training game and virtual world also rallied by as much as 22.5% to hit a two-week high above $160. AXS is Axie marketplace’s legal tender where players use it to purchase digital pets (in-game NFTS).
Axie Infinity Price Takes A Breather Above $140
Axie Infinity rallied over 39% from a low of $117 on October 28 to a high of $163 on October 29. This rally was rejected by the $150 resistance level which has since seen the AXS price correct to the current price around $142.
AXS is trading with a bearish bias above $140 and slip below this level could see it lose the recent bullish momentum to tumble towards the $125 support wall.
A slip below this could see a safe haven at the demand zone between $108 and $114 shown by the green band.
AXS/USD Daily Chart
On the upside, if AXS price overcomes the selling pressure from the supply zone between $148 and $155, the Axie Infinity Token will rise to discover new record highs above $155.
The upsloping moving averages and the movement of the MACD in the positive region validates this bullish outlook. Moreover, the position of the Relative Strength Index (RSI) indicator at 63 close to the overbought one shows that the bullish momentum still has some strength.
If you’re looking to buy some AXS then you should take a look at this guide on crypto trading.
- Trump’s Thumzup Media Boost Dogecoin Mining Fleet, Pumps $2.5M Into DogeHash
- BREAKING: 21Shares SUI and Polkadot ETFs Gain DTCC Listing
- SEC Issues Guidance Enabling Ripple, Coinbase, BitGo to Qualify as Custodians
- Fed’s Goolsbee Cites Inflation Worries in Case Against Further Rate Cuts
- David Schwartz To Step Down as Ripple CTO, Delivers Heartfelt Message to XRP Community
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
