Axie Infinity virtual land sold for $2.3M while AXS jumps 18.74%

A piece of virtual land in the Axie Infinity game sold for a staggering $2.3 million. Image from cryptologos
A piece of virtual land in the Axie Infinity game sold for a staggering $2.3 million. Image from cryptologos

Key Takeaways:

  • A piece of digital land in the Axie Infinity game has sold for approx $2.3 million.
  • The game’s native token seems to have broken out of its downtrend.

NEW DELHI (CoinChapter.com) — Play-to-earn game Axie Infinity shared that a plot of virtual land on its platform sold for 550 ETH ($2.3 million).

The monster battle fantasy game said that the sold plot is classified as Genesis, an extremely rare virtual land available on the game. The genesis plot is located in the center of Axie Infinity’s game map, with only 220 available. In detail, monsters called Chimeras are part of the game, and defeating them earns players Smooth Love Potions (SLP).

Genesis land spawns rare Chimeras that drop special items, probably a reason for its sky-high price label. Axie Infinity offers different types of virtual land for sale in its game, such as Mystic, Arctic, etc., each with its rarity and features.

Axie Infinity is a blockchain-based game where players breed Axies, mythical in-game creatures, to duel with other players, battle enemies, and complete daily quests. The Axies are also NFTs that players can buy or sell for cryptocurrencies or fiat currencies.

Also Read: NFT beats Crypto to become Collins Dictionary’s Word of the Year.

Axie Infinity further shared it was the highest price tag for a single plot of virtual land on its platform. Moreover, the recent sale highlights investors’ interest in securing digital real estate.

Axie Infinity Price Charts

Axie Infinity prices rose 6.56% on Tuesday, taking AXS above its 50-day MA trendline. As a result, the Axie Infinity token is bullish across all time horizons. Moreover, Axie Infinity prices tested ascending trendline support before rebounding, suggesting the trendline is a key support level for AXS.

AXS has immediate resistance at $145.01. The Axie Infinity token fell below the $145.01 price level on Nov 12. If bulls flip $145.01 into support, AXS would then target the $150.86 resistance level. A sustained uptrend could see prices reach $158.90 before pulling back.

 AXS's downtrend rebounded off support from Oct-Nov ascending trendline. Source: AXSUSD on Tradingview.com
AXS’s downtrend rebounded off support from Oct-Nov ascending trendline. Source: AXSUSD on Tradingview.com

At the same time, if bears take over AXS, prices could fall to immediate support at $134.41, near the Axie Infinity token’s 50-day MA line. In case prices decline further, AXS could fall to $127.47, near the ascending trendline support. Finally, a marketwide sell-off could bring the support at $116.45 into play.

Also Read: Axie Infinity “programmed” to hit $200 as AXS rallies 20% on red crypto day.

Trend-based momentum oscillator MACD continues to be bearish for AXS. However, MACD histogram bars indicate that the MACD line (difference of 12-day and 26-day EMA) is moving upwards towards the MACD signal line (9-day EMA of MACD).

MACD moves to chart a bullish crossover for the Axie Infinity token. Source: AXSUSD on Tradingview.com
MACD moves to chart a bullish crossover for the Axie Infinity token. Source: AXSUSD on Tradingview.com

Once the MACD line moves above its signal line, it will plot a bullish crossover, indicating that AXS’s momentum is bullish.

The relative strength index, or RSI, is a momentum indicator that measures the magnitude of recent price changes to identify overbought or oversold assets. RSI for AXS is currently neutral, clocking 52.65 on the daily charts.

At the time of writing, AXS was trading at $138.90, down 1.01% on the day.

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