AXS is up by greater than 4% within the final 24 hours

The cryptocurrency market is off to a optimistic begin this week as the costs of most cryptocurrencies are within the inexperienced area.

The cryptocurrency market is seeking to recuperate among the losses recorded final week. The market has added practically 3% to its worth during the last 24 hours, and the whole market cap now stands near the $900 billion mark.

Bitcoin is buying and selling above $19k once more after slipping beneath that essential stage over the previous few days. Ether is up by greater than 3% within the final 24 hours and at the moment trades above $1,100 per coin.

AXS, the native token of the Axie Infinity ecosystem, can be buying and selling within the inexperienced zone. AXS has added greater than 4% to its worth during the last 24 hours and at the moment trades at $14.41 per coin.

The optimistic efficiency comes regardless of Axie Infinity reporting a problem with its Ronin Bridge over the weekend. 

The Axie Infinity workforce introduced r on Saturday that it has recognized a deposit difficulty with its bridge. The difficulty causes some deposits from the Ethereum blockchain to change into caught. In consequence, the funds should not delivered to the customers’ Ronin wallets however are additionally not misplaced. 

Nonetheless, Axie Infinity mentioned it’s already engaged on the answer and can replace the bridge quickly

Key ranges to observe

The AXS/USD 4-hour chart is impartial as Axie Infinity is overcoming its current bearish efficiency. 

The 14-day RSI of 55 exhibits that AXS is not within the oversold area. If the optimistic efficiency continues, the RSI may surge increased into the overbought zone. 

The MACD line stays beneath the impartial zone, indicating that the bearish momentum will not be absolutely over. 

If the rally continues, AXS may surge previous the primary main resistance stage at $16.15 earlier than the top of the day. Nonetheless, it could want the assist of the broader market to maneuver above the $18.40 resistance stage within the quick time period. 

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