Axie Infinity Token Forecast – Buyers Have Another Go but AXS/USD Reverses Down Again

In the last two months, Axie Infinity token has been the most bullish cryptocurrency out there without a doubt. At the beginning of July, AXS/USD was trading at around $4, last Saturday. the price reached $96.That’s a 2.400% increase in value in just two months. In fact, it was this crypto that signalled the reversal in the crypto market, after cryptocurrencies had been really bearish since May. It showed that the interest in cryptocurrencies from the public was still there.

Moving averages have been doing a great job as support, while today the 20 SMA (gray) has resumed that position again, after the reversal yesterday, which followed the jump higher on Saturday. That day the bullish trend resumed again, after the previous one ended nearly a month ago in early August, and since then we have seen AXS/USD consolidate.

The reversal today and the fact that buyers gave back more than half the gains already on Saturday aren’t bullish signs, but this looks like some profit-taking before the big round level at $100. On the next bullish move, it is quite possible that Axie Infinity overtakes the $100 level. the number of players on the Axie Infinity game keeps increasing, which is a strong sign that the demand for AXS tokens will also increase. We are long on AXS/BTC, which is showing a similar picture and we missed our take profit by a little during that jump higher on Saturday, so we are keeping that buy signal open.

Ethereum Forecast – The 20 SMA to Push ETH/USD Higher Again?

Ethereum consolidating before moving above the $4,000 level and staying there

Ethereum took the lead in the crypto market in May, pushing to new all-time highs, while BITCOIN was stagnating and now it seems like Ethereum might have taken the lead again, being the most bullish cryptocurrency among the major ones. Although, others like Solana and Axie Infinity have made some massive gains since late July, appreciating more than 5-6 times compared to 1-2 months ago.

Ethereum has appreciated nearly 250%, after moving above $4,000 on Friday. Moving averages have done an amazing job acting as support during pullbacks and pushing the price higher. The smaller ones such as the 20 SMA (gray) and the 50 SMA (yellow) were doing so when the trend was strong and pullbacks were shallow. When the trend slowed and pullbacks became deeper, the larger moving averages such as the 100 SMA (green) took over that job.

Ethereum Live Chart

Last week, the trend picked up pace again as ETH/USD surged from around $3,000 to $4,000, leaving moving averages behind. Over the weekend, the bullish pressure slowed and Ethereum has been consolidating below $4,000, although it didn’t retrace lower, which is another bullish sign. Now, the 20 SMA has caught up with the price on the H4 chart and another bullish move is expected to come, with Ethereum 2.0 underway. So, we are thinking about opening a buy Ethereum signal here soon, in order to catch that move.