[AXS/USDT BUY]- Crypto Academy / S6T2- Team Trading Contest Post for Reminane.

Hi Professor @reminiscence01 I am @ononiwujoel one of your students in Crypto Academy and a member of the steemit platform. I'm participating in the crypto Academy competition as a member of your group Reminane this week.
For today's submission I'll be analysing and Trading with a Crypto token that focuses on the gaming community in the crypto industry called AXS.

The name and introduction of the project token, which exchanges it can be traded on, project / technical information of the coin/ team background

I'll be analysing and Trading a Crypto token inclined to blockchain video games called Axie Infinity Shards (AXS)

AXS is the native token of Axie Infinity decentralized ecosystem. Axie Infinity is a blockchain video game online platform which uses its combination of blockchain, NFTs and video game to develop one of the leading innovations in the crypto industry.

Axie Infinity is a very brilliant initiative which was developed to create an environment where gamers can play using crypto assets and NFTs to earn while engaging the platform hence it is referred to as a "pay to play to earn" platform.

In this blockchain video game, players can purchase, trade, breed and own animal-like characters called Axies which are then used for battles and campaign to earn rewards in-game. The Axies and other gears in-game are all crypto assets and NFTs with real values and can be traded on the marketplace in-game for real value. As a matter of fact many players in this platform use the game as their major source of income especially during Covid lock down. So this is beautiful innovation and has taken the crypto industry to a whole new level.

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AXS uses the Proof of work consensus algorithm because it is an ERC-20 token running on the Ethereum blockchain although the platform is working on moving to Ronin which is a specialised Sidechain in Ethereum network developed for Axie Infinity platform.

Axie Infinity ecosystem was founded by an experienced blockchain game developer called Sky Mavis together with it's co-founders which includes Trung Nguyen a software engineer and current CEO of Axie Infinity and Aleksander Larsen who is also a very good game developer and COO of Axie Infinity platform. And they have several Vietnamese in their development team. This project was founded in 2018 and had their ICO in 2019 and raised almost $3 million for the project.
There is also a provision for passive income earning in-game via staking AXS.

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AXS currently ranks #40 on coinmarketcap with Market capitalization of $3,164,639,112.88, 24hr trading volume of $278,985,382.37, Market dominance of 0.18%, circulating supply of 60,907,500 AXS and total supply of 270,000,000 AXS.

AXS Market

AXS is very popular in the crypto market especially among gamers. You can trade this on almost every major crypto exchange in the crypto market including Coinbase, Binance, Gemini, FTX, Bitstamp, Bithumb, OKEx, Huobi Global, Gate.io, Kraken, Bitfinex etc. And in these markets AXS has many trading pairs for this token.

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Why you are optimistic about this token today, and how long do you u wish it can rise.

AXS is a unique token in a highly patronised platform which has continued to rise impressively in value over the years. During the ICO of AXS, the token was trading for about $0.1 but today its trading at $51. This token even traded over $160 in 2021 so this is a very cool token with lots of potentials to help it grow.
The players in this platform also makes it more active and social so its an impressive combination of a trading platform for collectibles and NFTs and gaming. So it has a huge community of users and investors as part of its market. Remember that it is the users that gives value to an asset in the long run.

Apart from its community and fan base this project has been very successful and taken the gaming industry to a new by improving the traditional games we have to blockchain games where players can make real money from their in-game assets.

Although the crypto market has declined recently following the world affairs in Europe there is already a recovering in several crypto markets of which AXS is among and I believe the next bullish will be be massive as its already showing signals.

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From the AXS/USDT chart above we can observe that the price tried to break out from the bearish trend in the market but failed thereby forming a strong retracement instead but at the end of the price movement we can see the asset gearing for another attempt to break out of the bearish and has also been signalled by the Divergence indicator below. So we should be expecting a strong positive market psychology in this asset.

Technical Analysis of AXS using the knowledge gained from Crypto Academy

In this technical analysis for trade entry I'll be using some tools like the chart, price action and few technical indicators including EMA and MACD. I must confess that I've fallen in love with the combination of EMAs and MACD as they seem to give a clearer picture of the market structure and trade opportunities to me.

Both the EMAs and MACD are moving average that basically calculate the average price of the asset with respect to a given period of time, however the MACD is more advanced and also shows the trading activities between sellers and buyers in the market and shows when the asset is overbought or oversold.

So I enter the AXS/USDT pair chart with a 1hr time frame and set up my 9 EMA, 21 EMA and MACD indicators

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We can observe the 9 EMA cross above the 21 EMA at the marked point signalling a change of Trend direction. By joining the lower highs in the chart we can also observe the change of Trend at that point, moreso the MACD indicator below also confirms the bullish signal as it shows there are more buyers than sellers and also shows its lines in a bullish setting.
So our our tools have come to confluence and agreed that there's a strong bullish signal with the EMA acting as dynamic support lines.
Since it is a bullish signal on a bearish market I'll be opting for a Buy trade

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So I made my trade entry on a Buy trade with my stop loss and Take profit at a ratio of 1:2.
I'm using my Huobi Global account to execute this trade entry

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Having made my entry I can now wait till execution to know if I made a profit or loss

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Your plan to hold it for a long time or when to sell.

Yeah, I actually plan to hold this position but for a short time, I don't think I'll be holding for more than 3 days at most because the crypto market is very volatile this period and my trade pattern is short term entries so I won't be holding for long

Do you recommend everyone to buy this token? Give reasons for your answer.

On a general note I do recommend any investor or crypto enthusiasts to go for AXS but with more emphasis on those interested in blockchain video games because this platform is awesome and you can make lots of money from engaging the platform strategically. You only need to purchase few Axies and you're good to go. Moreover AXS can be staked to earn passive income
So we can see that this token is full package and not just for holding idly in wallets but using them to make profits both from the Axie Infinity gaming platform and from Staking as well as from trading.

Conclusion

Axie Infinity Shards which is abbreviated to AXS is a very popular ERC-20 crypto token with lots of potentials and has seen an impressive rise in value as a result of the growing importance and participation being recorded by Axie Infinity ecosystem which has actually become the major source of income and livelihood of many players in the platform
Axie Infinity has brought great inspiration to several developers to enhance the blockchain gaming industry with more advanced and interesting games where players can play to earn real value so its generally a great innovation in the crypto space.