Crypto expert Ali Martinez has pointed out a massive bullish signal for Axie Infinity, which suggests a possible increase in Axie Infinity’s price. In a recent post on X, Martinez pointed out that AXS is presently carving out an inverse head-and-shoulders pattern on its weekly chart.
Normally interpreted as a bullish reversal signal, this technical formation may indicate that AXS could be preparing for a significant upswing. Martinez also observes that the cryptocurrency will rise and touch the neckline at $13. If it is to break this level, AXS could possibly reach a price of $22.
Key Technical Signal In AXS Chart
The head-and-shoulders pattern is a well-known signal among traders and analysts, including the inverse head-and-shoulders pattern. It generally indicates a swing in the trend from negative to positive for Martinez’s observation is of particular importance for anyone observing Axie Infinity.
Martinez’s take on the situation has garnered a lot of attention in the crypto space as Axie Infinity remains a popular topic among investors and gamers alike. One of the key trends in the Axie Infinity game is the play-to-earn approach which has made a noteworthy contribution to the company’s popularity and its stocks’ performance.
According to this forecast given by Martinez, AXS traders and investors might want to keep an eye on the crypto’s price changes in the following weeks. The course towards the $13 neckline will be significant to watch, as it will decide whether AXS will go through the expected breakout towards $22.
Such a price movement is a clear indication of the need to undertake technical analysis in determining the market direction and therefore trading directions. In the following months, as AXS approaches this key technical level, Martinez’s opinion is quite informative for those who are interested in the changes in the cryptocurrency market.
A bullish phase may be looming in Axie Infinity’s chart as it develops the inverse head-and-shoulder pattern. Of course, the investors and traders will also focus on AXS in order to see whether the cryptocurrency will reach the expected high and breakthrough in the near future.
