IS IT STILL WORTH BUYING AXS (AXIE INFINITY) and SLP?! 🤔
Do not forget to subscribe to this youtube channel beneath and like the youtube video, if you enjoy. The content. Also, do not forget to follow me on twitter and instagram. What youre seeing on the screen here is information and data that you can get out of every protocol. So this one is the project axs and you can gather all the information that you want. Total revenue protocol revenue price fully diluted market cap – you can all click it if you want um – and in this case we are doing it with the fully diluted market cap and the total revenue in which you can see that price has been accelerating quite heavily in The previous period, due to the fact that we had an overall increase in revenue as plato earned, has started to wake up heavily and also the overall use case of the platform was increasing nicely. Since then, the revenue has been decreasing a little bit. The price has been consolidating, and lately the price of axs has been shooting upwards heavily, as you can see, and that price has been doing absolutely amazing. However, the overall revenue has been decreasing significantly, as you can see, on the price or on the data that you see into the green candles that are thats the total revenue. The blue line is the fully diluted market cap so thats. The information that you can get out of this you can do this for every protocol through token terminal.
You can do it through ethereum as well, very interesting concept and information that you can get out of it as the confirmation or the information that youre getting from this. This chart here is that the revenue is not really increasing heavily, while the price actually is. That should be a red flag overall, but also when youre looking at the price action itself. If youre going to be a buyer in this zone, you might be getting yourself a recipe to get erect in the bear market. We should realize that the markets might be going up between six to nine months from now until we are getting a swift top on bitcoin and the markets overall. So, looking at a position at this stage, you might end up by holding your position when its coming back down all the way here, and you should realize that in a bear market all coins will drop 99. So, if youre looking for a position on axs, the question is whether you should still be looking for one that has been performing one of the best lately, as since the crash its up about four and a half thousand percent. If youre looking for a position in this one, while it has been going vertical, i think you should switch your focus towards projects that are still eager to continue running to the upside. And at this point this one has been showing the run so most likely at some point.
The movements or the money has is going to be adjusted to a different protocol that still has to make a big run. So, if youre going to look for a position in this one, its quite hard for this one to make a 2x, but if it does its still fine. However, its not lining up lining up with your risk management as dropping towards 110, but also dropping towards 80 bucks is still fine and then you are suffering a potential loss of 44 looking for a bounce to or and rally off at 2x from here, i think The market is granting you better opportunities than axes at this point levels that ill be looking at for potential trades. You know that im looking for order blocks that support resistance levels, so im looking for any of these two levels here. First, one is the zone around 110. Second, one is around 82 and a half to 85, and the third one is around 73 to 76, all basically day trades that ill be looking at, but any of these retests, and you can see in the previous picture that weve got a beautiful one in the Crash in 20th of september, beautiful retest, here of the previous resistance becoming support and after that a big impulse wave to the upside and that upside can be granted on many altcoins at this stage. But i think that you should be looking at a very cautious price action for xs overall, so id be looking first around 110 in that region here for the potential trade and then the second level is quite surely there, however, ive shared a chart earlier on sop And we might be reversing the trend, however, it becomes quite tricky as well.
We are making a new higher high here, which is the first time since this entire downwatch trend, but you want to grant yourself a higher low too. So what is the critical level that were looking at with sop? Well, we are seeing a low and were seeing in higher low, so the level that you want to see sustain here at support is this level here you want to see its staying above. 0. 6. 2. 5 and then that is the critical level to watch overall, looking at any structure in this zone, meaning that taking an entry around the area of seven cents to seven and a half cent is still fine debating whether the daily candle is enough for you to grant An opportunity, but looking for the long in this range and therefore granting your stop a need here and your target zone based on historical price action through which youre looking for any tps in this range first and then the second one, the other side of the range. So, if youre, looking for an entry point and youre looking at either of these two, i think axs is the one thats already gone. Sop is granting you some opportunities still and the markets overall are granting you opportunities, as bitcoin is once again running up nicely. So thats the short update that i wanted to give be relatively calm in your opportunities or in the way youre at youre trading in the markets.
If youre looking for a position is something that went vertical, you might want to decide for something else, given the fact that the upside is getting quite limited, that is the message that i want to share with you today.