- Axie Infinity price sees a big window of opportunity to rally sharply.
- AXS price sees several tail risks deflating, with positive headlines over the weekend.
- Expect to see a possible break above $31 later this week if this mood continues.
Axie Infinity (AXS) price is set to jump 20% intraday as traders push price to a new high for the past trading week. The green print comes after several tail risks eased following positive headlines over the weekend, and on Monday morning out of Asia. Not only is the US looking to ease tariffs with China, but Putin even mentioned the time is right to sit at the table with Ukraine, which is triggering a broad risk-on rally and causing safe havens like the dollar to bleed This in turn is creating a double incentive for buyers to consider ramping up price action even further later this week.
AXS price set to rally for a straight week
Axie Infinity is riding the wave from positive headlines, with more than one coming out all at the same time. Grabbing the top spot is news of a possible easing of tariffs between the US and China, followed by Putin making overtures to Ukraine to join him in talks about a possible peace deal. All these elements further deflated the big broad tail risk that kept markets and price action muted to the upside.
AXS price is thus set for a big bang higher as price is set to balloon with at least 20% intraday on the radar, towards $26.11. A daily close above that would be perfect for another leg higher towards $30.93, a key line in the sand from July 26, 2021. If the rally is so strong that bulls can close above there, expect to see a stretch towards $40, testing the 55-day Simple Moving Average for a break higher.
AXS/USD daily chart
Risk to the downside could come from cold water being poured on sentiment potentially from just one negative headline blowing the current rally into the water. If Russia suddenly retracts its statement on not wanting to engage in peace talks, it would trigger a sharp drop back towards low levels from two weeks ago. Expect the AXS price to drop back to $19.59 and possibly break towards $16.00 on the back foot.