AXS is up 4% today despite Ronin Bridge’s deposit problems

The cryptocurrency market is off to a favorable begin today as the rates of most cryptocurrencies remain in the green region. The cryptocurrency market is seeking to recoup several of the losses taped last week.

The marketplace has added nearly 3%to its worth over the last 24 hours, and also the overall market cap now stands near to the$900 billion mark. Bitcoin is trading above $19k once again after sliding below that important degree over the past couple of days. Ether is up by greater than 3%in the last 24 hrs as well as currently trades above $1,100 per coin.

AXS, the indigenous token of the Axie Infinity ecological community, is also trading in the green area. AXS has added more than 4% to its worth over the last 24 hrs as well as currently trades at $14.41 per coin.

The favorable performance comes regardless of Axie Infinity reporting a concern with its Ronin Bridge over the weekend.

The Axie Infinity group announced r on Saturday that it has identified a down payment problem with its bridge. The issue causes some down payments from the Ethereum blockchain to come to be stuck. As a result, the funds are not supplied to the users’ Ronin pocketbooks yet are likewise not shed.

Nevertheless, Axie Infinity stated it is currently servicing the solution and will update the bridge soon

Key levels to enjoy The AXS/USD 4-hour chart is neutral as Axie Infinity is overcoming its recent bearish performance.

The 14-day RSI of 55 shows that AXS is no longer in the oversold region. If the positive performance continues, the RSI might surge higher into the overbought area.

The MACD line remains listed below the neutral zone, showing that the bearish momentum is not completely over.

If the rally proceeds, AXS can rise past the initial significant resistance level at $16.15 before completion of the day. It would certainly need the support of the broader market to relocate over the $18.40 resistance level in the short term.

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