Axie Infinity Price Up 4.60% – Time to Buy AXS Coin?

• Investors want to buy AXS as the asset is linked to one of the hottest crypto platforms right now
• Axie Infinity’s growth is set to continue into the new year
• AXS has also outperformed the market as the coin looks to recover from the past few weeks’ bearish movements

Axie Infinity broke out in 2021 and has become the most popular blockchain game globally. In 2022, investors will hope to buy AXS to cash in on the blockchain’s gaming boom.

AXS is also looking attractive to many investors as the market is starting to recover from several weeks of bearish movement. Most large-cap assets posted single-digit gains in the past week, but AXS has so far jumped into double digits. This performance will encourage more people to buy AXS as they hope to outperform the market.

AXS is the native token for Axie Infinity – a growing blockchain game whose profile has been on the rise in the past few months.

Axie Infinity is a popular game that revolves around Axies – digital pets, which players buy from the game. Players get to grow and groom their Axies, eventually battling them with other players’ Axies. With its Pokémon-style design and no clear age-verification process, Axie Infinity is attractive to a growing number of people – from kids to millennials and more.

The Axie Infinity ecosystem runs on two tokens – Axie Infinity SHards (AXS) and Smooth Love Potions (SLP). SLP is awarded to players for playing the game, and you win some by beating your opponent’s Axie. The more you play, the more you win.

However, AXS is the asset needed to buy Axies and play the game, and it is also the Axie Infinity governance token.

Axie Infinity has been able to coast on some of the crypto industry’s biggest trends – including the multiverse and non-fungible tokens (NFTs), as all Axies themselves are NFTs. This has helped AXS grow its value to $80.85 currently – up 4.60% in the past day and 13,25% in the past week.

Axie Infinity’s Rise Continues

Coming off a strong year in 2021, Axie Infinity has been going from strength to strength. The platform remains atop the DappRadar NFT rankings, with $563.6 million in trades over the past 30 days.

With the platform running an in-house NFT marketplace, Axie Infinity offers the perfect iteration of the play-to-earn model. Players can have fun and still earn money for the games they play. All of this is tied around their ability to buy AXS and trade it, of course.

AXS Technical Analysis: Murky Standings Heading Into a New Week

Looking at the technical indicators for AXS, the app looks poised for a pretty important week.

The asset was one of the heaviest hit by the market slump, with its price erasing gains made since October. Since the year began, AXS also ranged between $65.68 and $80.72 points. But, it broke out of that last week, following the market’s bullish run.

AXS broke out of the range yesterday, although it is looking dangerously close to falling back as the market’s recovery looks like it is wearing off.

Currently, AXS’s 100-day simple moving average (SMA) is $77.83. This should serve as a good support for the asset as it enters into a new trading day. The 23.6% Fibonacci retracement level of $76.15 is also a key support level to watch right now.

AXS’s moving average convergence divergence (MACD)has slipped into negative territory, showing a sell signal. Its relative strength (RSI) is at 48.23, and it’s been dropping for the past 24 hours. This shows that fewer people are spending cash to buy AXS right now.

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