Axie Infinity, Dogecoin & Cardano — Asian Wrap 26 Aug


Crypto Blades and Axie Infinity go to war for NFT market share while AXS price suffers steep correction

“Play to earn” games are fighting for dominance of the non-fungible token ecosystem with a market capitalization of nearly $18 billion. One of these NFT crafting games that runs on the Binance Chain, Crypto Blades, has emerged as a formidable competitor to popular game Axie Infinity. 

Crypto Blades is a role-playing game on the Binance smart chain where traders can earn SKILL token. Though the game has noted a considerable increase in the number of users in the past thirty days, Crypto Blades’ token is nearly 94.8% away from its all-time high of $858.99. 

 

Dogecoin Elliott Wave analysis: Looks to move lower

If Crypto market extends its decline today, then we would probably have five waves down which should be considered as a potential top and bearish reversal. As you can see, major cryptocurrencies are still at the strong resistance zone, but there’s no real break down yet. We need to see something more significant, for example broken channel support line or bearish confirmation level.

 

Cardano Price Prediction: ADA retracement could lead to new all-time high above $3

Cardano price is currently experiencing a sell-off after setting up a new all-time high on August 23. This downswing is likely to extend to find a stable support barrier before contemplating a new uptrend.

Cardano price has been on a 113% upswing since August 9 as it set up a new all-time high at $2.98. While this rally was impressive, ADA seems to have exhausted its momentum as it encountered the 127.2% Fibonacci extension level at $2.87.



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