Axie Infinity (AXS) Plunges: New Lows After Breaching Critical Support Level

Axie Infinity‘s (AXS) year-long downtrend extended to new lows after breaching the critical support level of $5.92 on June 10. The token had also experienced a rally in January, reaching its yearly high of $13.95. The recent price plunge could be attributed to the cautious approach by investors following SEC’s lawsuits against Binance and Coinbase over AXS listing. In the first quarter of 2023, AXS mirrored Bitcoin‘s (BTC) performance in yielding positive results. However, the latest price movement could suggest a potential decoupling of Axie Infinity from Bitcoin, particularly as BTC’s recapture of the $26,000 price region had no impact on AXS. The Latest on AXS Price Axie Infinity’s fall from the resistance level of $12.60 in March led to the gaming token’s price dropping below the $9.48 support level. Numerous attempts by the bulls to reclaim the support level were thwarted by steadfast bears, gradually pushing AXS towards the […] The post Axie Infinity (AXS) Plunges: New Lows After Breaching Critical Support Level appeared first on COINTURK NEWS.