Ripple, Shiba Inu & Axie Infinity — Asian Wrap 09 May

XRP price action on the weekly chart looks depressing if you’re a bull but magical if you’re a bear. No matter which way you want to look at it, XRP’s chart is bearish and warns of a massive collapse unless bulls come in and reverse the current setup.

 

Shiba Inu price action continues to fall lower and lower. A push towards new 2022 lows appears likely as buyers have thus far not generated any effective defense for SHIBA. Shiba Inu price action, from an Ichimoku perspective, remains extremely bearish, with no support currently present on the daily chart.

 

Axie Infinity price continues its slide below the $30 value area and into the $28 range. However, volume is increasing at these lows, and a new high volume node has developed, signaling that some support may be developing.  Axie Infinity price continues to be plagued by several negative issues preventing a return to its highs. 


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