AxieInfinity rockets past $10, may push higher without significant retracement
continued to hold on to the $23k level at press time, and further gains seemed likely. The bullish sentiment can spur AXS higher as well. The question remained – will buyers get a decent pullback to enter long positions?Source: AXS/USDT on TradingView
The start of 2023 saw the OBV register a huge surge upward. This indicated an enormous amount of buying, and the break in market structure reinforced the bullish bias. A set of Fibonacci retracement levels was drawn based on the bullish move.The pullback from $10.2 nearly reached the 61.8% retracement at $7.52, before moving higher to $13.94. The OBV did not move higher, although the RSI did. This was concerning for the bulls, as the rally higher was not backed by genuine buying pressure.
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