The cryptocurrency market is off to a constructive begin this week as the costs of most cryptocurrencies are within the inexperienced area.
The cryptocurrency market is seeking to get better a number of the losses recorded final week. The market has added almost 3% to its worth during the last 24 hours, and the overall market cap now stands near the $900 billion mark.
Bitcoin is buying and selling above $19k once more after slipping under that essential degree over the previous few days. Ether is up by greater than 3% within the final 24 hours and at the moment trades above $1,100 per coin.
AXS, the native token of the Axie Infinity ecosystem, can also be buying and selling within the inexperienced zone. AXS has added greater than 4% to its worth during the last 24 hours and at the moment trades at $14.41 per coin.
The constructive efficiency comes regardless of Axie Infinity reporting a difficulty with its Ronin Bridge over the weekend.
The Axie Infinity workforce introduced r on Saturday that it has recognized a deposit problem with its bridge. The problem causes some deposits from the Ethereum blockchain to grow to be caught. Consequently, the funds aren’t delivered to the customers’ Ronin wallets however are additionally not misplaced.
Nevertheless, Axie Infinity mentioned it’s already engaged on the answer and can replace the bridge quickly
Now we have recognized a difficulty with the bridge that causes some deposits from the Ethereum blockchain to grow to be caught. Consequently, the funds aren’t delivered to your Ronin pockets however aren’t misplaced.
— Axie Infinity🦇🔊 (@AxieInfinity) July 2, 2022
Key ranges to observe
The AXS/USD 4-hour chart is impartial as Axie Infinity is overcoming its latest bearish efficiency.
The 14-day RSI of 55 exhibits that AXS is now not within the oversold area. If the constructive efficiency continues, the RSI might surge larger into the overbought zone.
The MACD line stays under the impartial zone, indicating that the bearish momentum just isn’t absolutely over.
If the rally continues, AXS might surge previous the primary main resistance degree at $16.15 earlier than the tip of the day. Nevertheless, it might want the help of the broader market to maneuver above the $18.40 resistance degree within the brief time period.