Axie Infinity / US Dollar Cryptocurrency Forecast

Axie Infinity / US Dollar cryptocurrency price ended at $7.73 on Tuesday, after losing 0.322%.
(Updated on Apr 23, 2024)

AXSUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 11.18%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Axie Infinity / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $9.31. On a fall, the cryptocurrency will find some support from the short-term average at $7.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Axie Infinity / US Dollar cryptocurrency

Axie Infinity / US Dollar finds support from accumulated volume at $7.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.333 between high and low, or 4.41%. For the last week, the cryptocurrency has had daily average volatility of 9.21%.

Axie Infinity / US Dollar is oversold on RSI14 (19). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $7.38 (-4.62%) (This cryptocurrency has very high daily movements and this gives very high risk. Low RSI14 is 19 which reduces the risk some. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (AXSUSD) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Axie Infinity / US Dollar to open at $7.72, and during the day (based on 14 day Average True Range), to move between $6.84 and $8.63, which gives a possible trading interval of +/-$0.90 (+/-11.61%) up or down from last closing price. If Axie Infinity / US Dollar takes out the full calculated possible swing range there will be an estimated 23.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.46 (3.54%) than the resistance at $8.11 (4.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Axie Infinity / US Dollar cryptocurrency A Buy?

Axie Infinity / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.255 Hold/Accumulate Unchanged

Predicted Opening Price for Axie Infinity / US Dollar of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.