Axie Infinity exhibits a near-term bullish outlook as it readies to flip the $49 mark to support, as AAVE climbed past local peaks. BTC’s short-term bullishness and a break beyond $40.8K triggered upswings in alts like Dash. Zcash also saw lucrative actions lately, its long-term market outlook shifting to bullish.
Axie Infinity (AXS)
Analysts plotted FIB retracement zones based on Axie Infinity’s journey between $41.9 lows and $61.32. The move revealed 61.8% retracement at $49.32. This level served as a resistance area last week. For now, AXS seems to ride bullish waves.
The previous 24 hours witnessed Axie Infinity pushing past this short-term supply territory, and the alt tried to flip the region into demand at this publication. The Relative Strength Index remained beyond the neutral 50, whereas the DMI highlighted a massive upward trend with the +DI and ADX surging past the 20 levels.
Zcash (ZEC)
ZEC regains bullishness on long timeframes as the alt broke past the resistance of $145, plummeted towards $136 to search liquidity, and climbed above $150 again. Lower timeframes exhibit massive bullish momentum as the on-balance volume witnessed a brief drop. $155.7 has served as ZEC’s resistance and support in the past, and the alt seems to drop below this zone.
Meanwhile, a southward move to revisit $145 would mean a ‘buy’ opportunity. Meanwhile, $172 might act as the token’s resistance to the upward.
Aave (AAVE)
Late February sessions saw AAVE rallying to $150.9 from $112.7 before retracing nearly all the gains. Experts drew FIB retracement based on that action and shows significant levels to be $120 and $127. Meanwhile, AAVE toiled below $120 resistance over the previous week. The past few days had the alt rising past this area, retesting it as demand climbed higher.
The Relative Strength Index plummeted from the overbought region in recent weeks. But the indicators displayed massive bullish strength. The Chaikin Money Flow stayed far beyond +0.05 and highlighted increased capital flow to the market. Retesting $130 can mean a ‘buy’ opportunity.
Dash (DASH)
$96 served as a bullish order barrier early this week. Meanwhile, $102 represented a supply region. That way, purchasing around $95 – $96 and selling near local peaks of $102 seemed feasible. While publishing this content, DASH was again trading beyond $96, flipping the level t demand once again. The past week’s higher lows and lower highs showed inbound volatility. The on-balance volume moved sideways while compressing. Meanwhile, the Relative Strength Index stayed at 49.9, showing neutral strength.
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