Axie Infinity’s price is on the verge of a significant correction. Meanwhile, HUH Token is set up to test its all-time high as bulls rally after a short consolidation period.
Axie Infinity (AXS)
Axie Infinity’s market value is likely to experience a minor boost before it crashes. AXS’s price quickly increased by 33% from $79.20 to $106.01, leaving no room for correction. This abrupt increase resulted in a price inefficiency known as the fair value gap (FVG).
Typically, these gaps are filled as price trades back into the range, which is what the Axie Infinity price is doing at the moment. AXS has dipped nearly halfway into the FVG thus far, but investors can anticipate it will continue to do so in the future.
Market participants can anticipate a further 15% decline in the price of Axie Infinity from its current level of $93.50 to $79.20. In some instances, AXS may retest the $71.59 level, bringing the total decline to 23%.
Additionally, the daily active address count on the Axie Infinity blockchain has decreased significantly over the last three months, falling from 6,263 to 746. This 88% decrease suggests investors have exited AXS and are uninterested in Axie Infinity’s current price.
On the other hand, if the Axie Infinity price experiences an increase in buying pressure, resulting in a six-hour candlestick close above $106.47, it indicates that market makers are gathering liquidity prior to initiating a crash.
HUH Token (HUH)
HUH Token has reclaimed its major support level at $0.0001277 indicating further upside is on the way. HUH’s price briefly fell below the support level to $0.0000905 before bulls swept in and lifted the price back up, indicating buyers’ appetite is strong at these levels.
HUH now looks set to retest its first resistance level at $0.0001830. If HUH’s price can close above this level on its 1-hour chart then investors should anticipate the price to retest its all time high at $0.0002728. This would be a 116% rise from current levels.
HUH 1-Hour Chart according to TradingView
However, if HUH’s price falls below the 0.0001277 support level, then traders can anticipate the price will dip to its next support level at $0.0000905.
HUH Token launched on Monday, December 6 and surged over 4000%, breaking into PancakeSwap’s top 20 during its first week of trading.
In the last 7 days since launch, HUH Token has amassed a market cap of over $146 million, with over 10 000 holders. Another reason for Tuesday’s bull rally could be HUH’s listing on popular indexes CoinMarketCap.com and CoinGecko.com, which would undoubtably provide more exposure for the new crypto.
Although HUH’s launch has been successful it has not been without incident. One of the reasons for the price pull back over the weekend could be due to some complaints from holders who purchased HUH during its presale. Presale holders have voiced concerns on telegram and social media about not receiving their tokens yet. However, HUH’s creators made an announcement on Tuesday saying they are working hard to resolve the issue, which they say was caused by a fault in their payments system.
The announcement seems to have lifted sentiment around the token as the price continues to recover and the community continues to develop rapport with developers.
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Website – www.huh.social
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