Axie Infinity [AXS] Price Prediction: Is a Move Above $6 Possible?

• The technical analysis of Axie Infinity [AXS] shows that it is in a bearish trend and is likely to test the $6.05-$6.4 region before resuming its downtrend.
• The June development update highlights the project’s increasing player base despite market conditions, as well as its availability on iOS in select countries.
• Weighted sentiment towards AXS is negative, but active addresses have seen an increase since May 7th.

Axie Infinity [AXS]: Technical Analysis

Axie Infinity [AXS] has been trending downward since mid-March 2021 and currently remains bearish with a lower Relative Strength Index (RSI) and On-Balance Volume (OBV). Fibonacci retracement levels indicate that the $6.05-$6.4 range could be tested before AXS resumes its downtrend.

June Development Update

The June development update showed progress on bringing Origins to iOS in select countries in LATAM and Asia, as well as further increases in the player base regardless of market conditions.

Weighted Sentiment

The weighted sentiment towards AXS is currently negative, although active addresses have seen an increase since May 7th.

Market Cap

Realistically, Axie Infinity [AXS] could move above $6 depending on future market conditions and developments within the project itself.

Conclusion

Overall, technical analysis suggests that Axie Infinity [AXS] is likely to test the Fibonacci retracement levels before it continues its downtrend while recent project updates hint at increased activity both from players and investors alike despite bearish sentiment from traders regarding the token’s price action..