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Is Axie Infinity ready for a breakout?



After an 85% rally in October, Axie Infinity (AXS / USD) is trading sideways and consolidating in the same price range of $ 130. Investors have patiently waited for an outbreak that was seen in early November. AXS was unable to maintain the breakout and fell back into the zone. Investors need to be patient and don't get in until a clear breakout can be seen. The long post-rally consolidation looks like a great bullish structure, but it can only be confirmed if a breakout becomes apparent. Is AXS Ready for an Outbreak?

  • AXS has been trading in the $ 130 zone since the sharp rally in October. AXS tried to break out once but failed and returned to the zone earlier this month.

  • AXS could break the 50-day moving average soon. This could be an indication that a bullish rally is imminent.

  • A breakout of the zone could generate huge returns in the coming weeks and months.

  • Investors need to be patient. An entry should only take place when a clear outbreak can be seen.

  • A target of $ 164 can be set, followed by a new all-time high in the coming weeks.

  • A stop loss must be kept below the zone in case a false breakout occurs.

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