The price of Axie Infinity (AXS) has struggled recently with a few bullish signs against Tether (USDT) despite market sentiments around the project.
As a result of the “Merge” sentiments, this has led to many altcoins showing relief rallies and newer altcoins making all-time highs; the price of Axie Infinity has struggled to rally despite many expectations on AXS holders.
The Merge is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) to increase its network efficiency in transactions. (Data feeds from Binance)
Axie Infinity (AXS) Price Analysis On The Weekly Chart
From the chart, the price of AXS saw a weekly low of around $14.2, which bounced from that area and rallied to a price of $18.
The price has built more momentum as it faces resistance at $19.3.
If the price of AXS on the weekly chart continues with this structure, it could quickly revisit $18, acting as a good support area for buy bids.
Weekly resistance for the price of AXS – $19.3.
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