Axie Infinity (AXS), a blockchain gaming altcoin, is showing signs of a potential surge, according to crypto trader Ali Martinez.
Inverse Head-and-Shoulders Pattern
Martinez analyzed AXS’s weekly chart and identified an inverse head-and-shoulders pattern. This pattern suggests that AXS could rise to $13, a 73% increase from its current price of $7.49. A further breakout to $22 would represent a 194% surge.
Ethereum Sell Signal
While Martinez is bullish on AXS, he is less optimistic about Ethereum (ETH) in the short term. The TD Sequential Indicator on ETH’s daily chart has presented a sell signal, suggesting a potential 5% correction.
Disclaimer
The opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in cryptocurrencies.
