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Author: jamesobande

TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

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. Related Reading: Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k 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. Weekly support for the price of AXS – $14. Price Analysis Of AXS On The Daily (1D) Chart The price of AXS found strong support at around $17.5, which seems to be an area of interest on the daily chart. AXS bounced from its support and has rallied as it faces resistance at $19.3. The price of AXS has continued to range in a channel; breaking out of this channel could send the price of AXS to $28. At the point of writing, the price of AXS is $19.27, above the 50 Exponential Moving Average (EMA) with a price of $17.5. If the price of AXS holds the support of $17.5 successfully, we could see the price trending higher with a successful breakout of the channel; if the price of AXS gets rejected, $17.5, which corresponds with 50 EMA, will be good support for buys. The Relative Strength Index (RSI) for the price of AXS on the daily chart is above 55, indicating healthy buy bids for AXS. Daily (1D) resistance for AXS price – $19.3. Daily (1D) support for AXS price – $17.5. Price Analysis OF AXS On The Four-Hourly (4H) Chart The price of AXS has continued to range in a channel having resistance at $19.3. AXS is trading above the 50 and 200 EMA with prices of $18.4 and $17.3, acting as its support on the 4H chart should the price of AXS gets rejected due to the weekend sell-off. If the price of AXS holds above the support of 18.4 with the good volume, we could see prices trending and breaking out of the range channel. If AXS experiences a sell-off, 50 and 200 EMA prices would support AXS prices. Four-Hourly (4H) resistance for AXS price – $19.3. Four-Hourly (4H) support for AXS price – $18.4, $17.3. Related Reading: Ethereum Sees Setback After Breaking $2k, But Price Likely to Maintain Upward Trajectory Featured image from Coin News, Charts from TradingView.com

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Axie Infinity (AXS) gains over 45%, but ‘death cross’ fears persist

Author: Cointelegraph By Yashu Gola

United States

Source: Cointelegraph.com News

Sep 23, 2021 04:50

Axie Infinity (AXS) gains over 45%, but ‘death cross’ fears persist

AXS may form a death cross between its 20-day and 50-day exponential moving averages, despite the latest rebound.

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Axie Infinity Co-Founder Losses Over $10 Million In Hack, AXS Holds Firm

Author: Dalmas Ngetich

United Kingdom

Source: NewsBTC

Feb 24, 2024 12:05

Axie Infinity Co-Founder Losses Over $10 Million In Hack, AXS Holds Firm

Two personal crypto wallets belonging to Jeff “Jihoz” Zirlin, the co-founder of Sky Mavis, the company behind the popular play-to-earn (P2E) game Axie Infinity, have been compromised, reports on February 23 show. Following this hack, over $10 million worth of various crypto assets were stolen, primarily RON, the native token of Ronin Chain, the Ethereum sidechain designed explicitly for Axie Infinity. Axie Infinity Co-Founder Losses Over $10 Million In Hack According to Lookonchain data, the hacker got away with 3.2 million RON worth over $9.53 million. The co-founder also lost over $834,000 worth of Wrapped Ethereum (ETH). There were other small amounts of PIXEL, the native token of Pixels–a gaming platform; SLP, the coin priming Axie Infinity’s metaverse; and USDC, a stablecoin. Zirlin held around 164 AXS worth less than $1,300. The hack has shown an unexpected holding pattern, especially among project founders. That the co-founder only held 164 AXS is strange, considering the role played in Axie Infinity. The P2E game has distributed billions of assets since its popularity peaked in the last bull cycle. Related Reading: Arbitrum In Freefall, Dips Below $2 As Experts Analyze Recovery Timelines Stolen assets, Lookonchain data reveals, were reportedly converted to ETH and deposited into Tornado Cash, a crypto mixer whose co-founders have an ongoing court case in the United States. In charges brought forward in August 2023, the prosecution team alleges that North Korean hackers used Tornado Cash to launder millions, if not billions, of dollars worth of stolen coins. Some of these tokens were from the Ronin hack, which lost over $600 million in March 2022. Dedicated To Mission; RON And AXS Post Minor Losses Zirlin confirmed the hack on X on February 23, emphasizing that it was “limited to my accounts.” The hack did not affect the Ronin chain or Sky Mavis operations. The co-founder also added that the compromised private keys were not connected to the company’s internal systems. Related Reading: Bitcoin Bullish Outlook: Analyst Predicts Near-Term Surge To $61,000 Zirlin said they have “strict security measures in place for all chain-related activities to assuage fears.” The co-founder also remains upbeat, assuring concerned crypto community members that the project will continue pursuing its mission of bringing “economic freedom” to all users. So far, AXS and RON prices remain stable but lower, looking at the performance in the daily chart. AXS and RON have been edging lower since February 21, cooling off after sharp gains from early Q4 2023. Feature image from Canva, chart from TradingView

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