Axie Infinity ($AXS) Crypto Forecast: Down 5.3% Today

What is Axie Infinity?

AXS is the native token of the blockchain-based game Axie Infinity, which allows players to collect, breed, and battle fantasy creatures called Axies. The overall cryptocurrency market has been volatile recently, with investors closely monitoring the movements of major tokens like Bitcoin and Ethereum.

Why is Axie Infinity going down?

AXS crypto is down 5.3% on Oct 26, 2024 13:48

• Despite bullish predictions, AXS experienced a bearish movement today.
• The discrepancy between the anticipated surge and the actual market movement could be due to profit-taking by investors who had previously bought into the hype.
• Market sentiment may have shifted, leading to a sell-off as traders reacted to external factors such as regulatory concerns or overall market uncertainty.
• It's essential for traders to stay informed about both technical analysis indicators and fundamental news to navigate the volatile cryptocurrency market effectively.

AXS Price Chart

AXS Technical Analysis

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Axie Infinity: Why AXS will surge 28% toward $6.85 after breakout

Axie Infinity: Why AXS will surge 28% toward $6.85 after breakout

https://ambcrypto.com/axie-infinity-why-axs-will-surge-28-toward-6-85-after-breakout/

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Axie Infinity Price History

16.08.2024 - AXS Crypto was down 5.2%

• The bearish movement in AXS today can be attributed to the intensified crackdown by the US SEC on certain cryptocurrencies, including AXS.
• Regulatory actions against Binance have led to uncertainty and fear in the market, resulting in a sell-off of AXS tokens.
• Investors are worried about the regulatory implications of recent actions by the SEC, prompting them to offload their AXS positions and contributing to the bearish market movement.
• The general sentiment in the cryptocurrency market is cautious due to increasing regulatory scrutiny, negatively impacting tokens like AXS.

16.08.2024 - AXS Crypto was down 5.3%

• The bearish movement of AXS today can be attributed to regulatory concerns, particularly related to unregistered securities sales.
• The uncertainty surrounding the SEC targeting AXS in a lawsuit involving Binance has led to investor fear and a sell-off of the token.
• Regulatory pressure on Binance and its associated tokens, including AXS, has created a negative outlook for the cryptocurrency, resulting in the price dip observed today.
• Investor caution regarding the future implications of regulatory actions on AXS and other tokens has contributed to the bearish market movement.

23.07.2024 - AXS Crypto was up 5.2%

• The bullish movement of AXS today can be attributed to the significant increase in daily active wallets, users, and transactions within the Axie Infinity platform, indicating growing adoption and engagement.
• This positive momentum for AXS may have been further boosted by the discovery of a hack on the Ronin Bridge, a sidechain scaling solution for Axie Infinity, highlighting the importance of security in the crypto space and potentially driving more users towards AXS as a safer alternative.
• The SEC's scrutiny on Solana (SOL) and its ETF impediment could have indirectly benefited AXS as investors seeking alternatives may have turned to other promising projects like Axie Infinity, contributing to its bullish movement.

29.07.2024 - AXS Crypto was up 5.3%

• AXS saw a strong bullish movement likely due to the surge in daily active wallets, users, and transactions within the Axie Infinity ecosystem, indicating growing interest and engagement with the platform.
• Discussions on Bitcoin's influence on the altcoin market may have also contributed to AXS's positive movement, as Bitcoin's performance often sets the tone for the broader cryptocurrency market, including altcoins like AXS.
• Speculations about AXS hitting $10 this year could have sparked optimism and attracted more investors to the token, further driving up its value.
• Overall, the combination of increased activity within the Axie Infinity ecosystem, positive market sentiment towards altcoins like AXS, and price speculation may have all played a role in AXS's bullish movement today.

11.09.2024 - AXS Crypto was up 5.5%

• The bullish movement in AXS can be attributed to increased buying pressure from crypto whales, as indicated by their interest in altcoins during the first week of October 2024.
• The influx of capital from these influential investors likely created a surge in demand for AXS, driving up its price significantly.
• This development suggests that market sentiment towards AXS remains optimistic, with investors viewing it as a promising investment opportunity within the crypto space.

01.08.2024 - AXS Crypto was down 5.1%

• The bearish movement in AXS could be associated with the general market sentiment influenced by Bitcoin's price fluctuations.
• Investors may have redirected their attention to other AI sensations like Raboo following the price decline in AXS and SUI.
• Speculation surrounding AXS hitting $10 this year could have resulted in exaggerated expectations, prompting profit-taking and a subsequent price decrease.
• The connection between Bitcoin and altcoins may have escalated the selling pressure on AXS as traders respond to fluctuations in the leading cryptocurrency's value.

22.08.2024 - AXS Crypto was down 5.2%

• The bearish movement in AXS today could be attributed to the overall negative sentiment in the cryptocurrency market, possibly influenced by regulatory concerns and uncertainty.
• A recent legal development related to unregistered securities sales may have heightened regulatory fears in the crypto space, impacting AXS negatively.
• The increasing dominance of alternative platforms in blockchain gaming may have diverted attention and investment from projects like Axie Infinity, contributing to the bearish trend in AXS.
• Overall, a mix of regulatory pressures and evolving trends within the blockchain gaming sector could have led to the bearish movement in AXS today.

23.08.2024 - AXS Crypto was up 5.3%

• The bullish movement in AXS could be attributed to the growing popularity of Web3 farming with pixels, indicating increased interest and engagement in blockchain-based gaming.
• The rise in AXS price might also be influenced by the trend of Telegram Mini Apps gaining traction in the blockchain gaming sector, potentially expanding the user base and utility of AXS within these applications.
• The convergence of these factors, along with the overall positive market sentiment in the cryptocurrency space, likely contributed to the strong bullish movement in AXS today.

12.09.2024 - AXS Crypto was up 5.1%

• The bullish movement in AXS today may be linked to the anticipation and excitement surrounding the upcoming token unlocks of Axie Infinity and other related projects.
• With over $214 million worth of tokens scheduled to be unlocked next week, investors and traders might be acquiring AXS in anticipation of potential price shifts.
• The upbeat sentiment and heightened demand for AXS could also be influenced by the general interest in blockchain-based gaming and the potential for expanded adoption in the future.

14.09.2024 - AXS Crypto was up 5.2%

• The bullish movement in AXS today could be attributed to the anticipation and excitement surrounding the upcoming token unlocks next week.
• Token unlocks often lead to increased trading activity and volatility as investors and traders adjust their positions based on the new supply entering the market.
• The positive sentiment around Axie Infinity's ecosystem and the potential for further growth may have also contributed to the bullish movement in AXS today.
• Overall, the combination of token unlocks and positive market sentiment towards Axie Infinity likely fueled the strong bullish movement in the token.

19.09.2024 - AXS Crypto was up 12.2%

• AXS price saw a significant surge today, potentially influenced by the positive sentiment in the broader cryptocurrency market.
• Mentions of AXS and other tokens like SAND, WLFI, and WCT might have sparked increased interest and investment in AXS.
• Excitement and buying interest in AXS could have been driven by the anticipation of upcoming token unlocks and airdrops.
• A mix of market optimism, positive coverage, and upcoming cryptocurrency events likely propelled AXS to a strong bullish movement today.

26.09.2024 - AXS Crypto was down 5.3%

• Despite bullish predictions, AXS experienced a bearish movement today.
• The discrepancy between the anticipated surge and the actual market movement could be due to profit-taking by investors who had previously bought into the hype.
• Market sentiment may have shifted, leading to a sell-off as traders reacted to external factors such as regulatory concerns or overall market uncertainty.
• It's essential for traders to stay informed about both technical analysis indicators and fundamental news to navigate the volatile cryptocurrency market effectively.