HomeForex MarketCrypto Watchlist: Upside Breakout for Axie Infinity (AXS/BUSD)?

Crypto Watchlist: Upside Breakout for Axie Infinity (AXS/BUSD)?

NFT gamers huddle up!

AXS has broken above a key resistance today.

Will we see sustained buying in the next couple of days?

AXS/BUSD Daily Crypto Chart

AXS, the governance token of NFT play-to-earn game Axie Infinity, just broke above a descending triangle resistance on the daily time frame.

It seems like AXS fans are really excited about the game’s V3 update known as Axie Infinity: Origin.

Aside from updated graphics, Origin will feature new user interface and game mechanics as well as simpler game stats.

Less than a day ago, the game has given a sneak peek of five out of the six Origin Ear cards that can be used to improve Axie performance. The release got gamers excited all over again and helped boost AXS/BUSD in the chart.

Will we see sustained buying for the gaming token?

AXS/BUSD may have busted through its trend line resistance but it’s also hitting a ceiling around the $62.50 levels.

Watch the next candlesticks closely to see if whether the “breakout” that we’re seeing is legit.

Sustained trading above the triangle resistance and even above the daily chart’s 100 SMA can propel AXS to the $81.00 area of interest.

A bounce back inside the triangle, however, opens AXS/BUSD to a trip down to the $47.50 previous support.

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