Ethereum

Axie Infinity

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 <p>The blockchain gaming altcoin Axie Infinity (AXS) is flashing signs that it could be ready to take off on a massive surge upwards, according to a popular crypto trader.</p>
 <p>The analyst Ali Martinez tells his 62,600 followers on the social media platform X that it looks like AXS is forming an inverse head-and-shoulders pattern on its weekly chart.</p>
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 <p>Martinez says the pattern “anticipates AXS to rise toward the neckline at $13 before a potential breakout to $22.”</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GOP6ibaX0AEC-pa?format=jpg&amp;name=4096x4096" alt="Image" width="2209" height="1511">
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   Source: Ali Martinez/X
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 <p>An inverse head and shoulders pattern is a technical formation with bullish implications. The right shoulder suggests that bulls are willing to accumulate the asset without waiting for the price to drop to its previous low.</p>
 <p>With AXS trading at $7.49 at time of writing, a surge to $13 would represent an increase of more than 73%, and hitting $22 would be a boost of nearly 194%.</p>
 <p>Martinez is less bullish on Ethereum in the short term: The trader says the Tom DeMark (TD) Sequential Indicator presented a sell signal on ETH’s&nbsp;daily chart on Thursday, suggesting the asset could suffer a 5% correction.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GOQ_yC9WoAEDadQ?format=jpg&amp;name=4096x4096" alt="Image" width="2178" height="1390">
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   Source: Ali Martinez/X
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 <p>Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles.</p>
 <p>ETH is trading at $3,828 at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blockchain-gaming-altcoin-axie-infinity-flashing-signs-of-potential-194-surge-says-crypto-trader-here-s-why-tbt89722.html">https://thebittimes.com/blockchain-gaming-altcoin-axie-infinity-flashing-signs-of-potential-194-surge-says-crypto-trader-here-s-why-tbt89722.html</a></p>

Blockchain Gaming Altcoin Axie Infinity Flashing Signs of Potential 194% Surge, Says Crypto Trader – Here’s Why

TheBitTimes

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