AXS Bull Rally Hits 30-Day High, Indicators Hint a Reversal

• AXS price surges to a 30-day high, driven by bullish sentiment and rising buying pressure.
• MACD and MFI indicators support a continued AXS price rise, but RSI signals caution.
• ROC suggests a momentum decline, warning traders to stay vigilant for possible trend reversal.

Despite a bearish start in the Axie Infinity (AXS) in the early hours, bulls recovered after establishing support at the intra-day low of $6.83. Consequently, the AXS price rose to a 30-day high of $7.44 before falling slightly. However, as of press time, AXS was still trading at $7.26, a 3.79% increase from the intraday low. 

This rising surge can be ascribed to positive market sentiment and increasing buying pressure from investors. AXS’s market capitalization and 24-hour trading volume increased by 3.87% and 19.08%, respectively, to $958,539,422 and $170,693,642, demonstrating this optimism. 

Concurrently, if the bullish trend breaks through the $7.44 resistance, the next level to watch for is around $7.80, a solid resistance level for AXS. However, if the price fails to break over the $7.44 resistance level, a possible retracement might ensue, with the support level to watch for being…

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