The Axie Infinity token is likely to continue rising after reaching its highest price level of $154.63.
The price of Axie Infinity’s AXS token, an increasingly popular gaming token, has risen to a new all-time high of $154.63 after a stellar 24-hour performance.
At the time of writing this article, the AXS token is trading around $149 after some profit taking. However, CoinGecko data shows that the cryptocurrency is still up more than 37% in the last 24 hours and over 134% in the last week.
Axie Infinity Price Outlook
After overcoming the old resistance line around $92, the AXS/USD price continued to rise, breaking through the barrier at $100 before retesting the area around $108.
With a further rise, the AXS price crossed the $150 psychological barrier, with the rise to highs of $154.63 suggesting that a break above $155 could allow AXS/USD to gain further.
On the 4-hour chart, an increase in trading volume and the positive outlook of the RSI indicate pressure from the buy side. Price is also well above the simple moving averages 50 and 100, whose curves are rising, indicating a bullish trend.
AXS/USD 4-HOUR chart. Source: TradingView
Should buyers maintain the upward momentum, an increase towards $ 160 to $180 would be the next target, and after that a possible continuation of the parabolic rally to $ 200.
In contrast, AXS/USD could test the $116 zone again if it falls below the critical anchor at $138. Downward pressure in this price zone could accelerate a retest of the support zone at $100.