Axie Infinity Price Prediction: AXS needs to shatter this blockade for 20% gains
Axie Infinity price action from September 9 to September 29 formed an inverse head and shoulder pattern. This technical formation contains three distinctive swing lows, with the central one steeper than the rest, known as head. The other two of comparable depths are known as shoulders.
A trend line drawn connecting the swing highs of these valleys reveals a resistance level referred to as neckline. A decisive breakout above the neckline forecasts a 28% ascent, obtained by measuring the distance between the neckline and the head’s lowest point.
AVAX price enters downtrend to $54 despite Coinbase listing
AVAX price has been the envy of bullish traders, rallying over 106% from the September open. However, a rising wedge has formed, signaling a deep corrective move ahead. There was some hope that the Coinbase listing announced on September 29th would propel AVAX back into the wedge and eliminate any bearish momentum, but the lower trendline of the wedge held as resistance.
The Coinbase listing, while bullish from a fundamental viewpoint, has almost always resulted in a pump and dump price action behavior. AVAX price was the definition of ‘priced in’ when it came to the announcement, with early buyers now eyeing the opportunity to take profit.
XLM Price Prediction: Stellar will return to $0.18
XLM price is a mixed bag of emotions. First, an extremely bearish event occurred when the Chikou Span closed below the Cloud. Then, an incredibly supportive response by buyers, the Chikou Span back was propelled back up and into the Cloud and generated a 10% gain. However, a further rise was halted against and the market has yet to see any conviction by buyers.
Traders will likely observe a swift sell-off towards the $0.18 level if sellers breach the weekly swing lows at $0.25.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.