Cosmos and Axie Infinity Price Prediction 2022 are two of the most well-known cryptocurrencies with significant price reductions. Although most cryptocurrencies fell, a few stayed stable and even rose against the trend.
Let’s Take a Look at Cosmos and Axie Infinity’s Technical Movement:
Cosmos Price Prediction 2022
Cosmos price is currently below support. With support set around $31 and resistance at $36, Cosmos is potentially in volatile territory as selling pushes the crypto’s price below recent support.
The price of Cosmos recently broke through a trend line. This break indicates a potential trend reversal. With the price currently viewing this trendline as support, we expect the Cosmos price to rally to the +/- $38.77 resistance level. If this resistance is broken, we believe the $40 target is likely because it is the next resistance.
For the time being, the $27 price area appears to be a good stop-loss zone. Most traders are now focusing on the next targets, anticipating the end of the downtrend. Successful traders, on the other hand, always consider macro elements such as global market conditions, economic and geopolitical situations.
The selloff occurred at the $36.25 resistance level, which has long served as a price movement ceiling. A downward cross between the 10/25-day moving averages has also occurred on the chart, which could indicate that the current bearish momentum will continue in the coming days.
Even the technical indicators are indicating bearish momentum as RSI is consolidating around 40 level which indicates Atom price is moving towards a more oversold zone. [wpdiscuz-feedback id=”xwggfvim4x” question=”Please leave a feedback on this” opened=”0″][/wpdiscuz-feedback]
Axie Infinity Price Prediction 2022
Since traders shifted their focus away from NFTs and toward traditional cryptos, the NFT space has seen extreme price fluctuations. Since then, the AXS price has displayed a weakened rally while maintaining a significant downtrend.
Axie Infinity price continues to face weakness as its downtrend remains intact. AXS is down by 70% from its all time high of $165 it in in down trend since November.
Following a significant downtrend, the price must first test the first line of defence, which is the September 2021 lows at $48. If the asset fails to hold these levels, the next support level at $47 may be effectively tested. Furthermore, before approaching the $25 target, the last hope would be in the $35 range.
AXS’s price is currently down by 1.92 per cent as it is moving in a descending parallel channel its price has been consolidating in the red zone of the parallel channel.
Moreover, Technical indicators are showing that the rally is extremely oversold. This is especially visible in the RSI, which is a momentum indicator.
On Jan 22, the RSI reached a new all-time low of 24. It also created a double bottom relative to the value on Jan 8. Values below 30 are considered oversold.
In addition to this, there is a growing bearish divergence in the histogram of the MACD.
On the other hand, if buying pressure increases, the AXS price may initially aim for levels above $50, in the range of $53 to $55.
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