Axie Infinity’s Elite 8 Tournament starts next week: will AXS price rally 50%?
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Axie Infinity attracted the attention of gaming and crypto enthusiasts after the recent launch of the much-awaited Origins S12 postseason.
At the center of the craze is the Elite 8 Tournament, which will begin next week on April 21.
The contest will see global players battling in a double-elimination setup for lucrative rewards, including AXS tokens.
The buzz has sparked debate about the native token’s short-term recovery, especially as the daily chart’s descending channel hints at significant breakouts past $3.2.
That would mean a nearly 50% surge from AXS’s current price. Is the tournament’s buzz enough to catalyze this substantial rally?
Axie Infinity’s high-level tournament with crypto rewards
While the community celebrates Enrico’s dominance during the regular season, the Elite 8 Tournament introduces the ultimate battle.
The high-level competition will feature the top eight gamers globally, competing head-to-head for crypto prizes and prestige.
Notably, the final stage starts on Monday (21 April). The double-elimination model means participants will have another chance after the first loss.
Winning participants should submit three different teams, each comprised of three Axies.
Axies are digital pets within Axie Infinity that users can breed, raise, use to battle, and create kingdoms.
The Elite 8 competition will push participants to their boundaries.
For instance, there will be no overlapping or team modifications after submission. Further, players cannot use a winning team for another match.
As a support, competitors will receive Morph Tickets, which they can use for pre-game customization and tuning lineups, ensuring transparency and fairness throughout the tournament.
The participants will compete for a 3,000 AXS reward pool. The “collectible tickets” will reinforce Elite 8’s economy.
Ticket holders will enjoy a share of 7,000 AXS tokens, dispersed automatically depending on the accumulated ticket number. Individuals with one ticket will receive 0.371523 mAXS.
Looming AXS price breakout
Axie Infinity’s ecosystem anticipates a buzz as the highly anticipated Elite 8 Tournament starts next week.
The hype could trigger explosive price rallies for native coin AXS, which appears on the brink of an upside breakout.
Analyst Crypto Target highlights the altcoin’s price actions within a descending pattern on the daily timeframe.
Reclaiming the channel’s middle region could shift AXS’s short-term trajectory to bullish.
With Origins S12 and Elite 8 Tournament hype, the bounce-back could trigger remarkable rallies.
The analyst predicts price surges to surpass the $3.20 obstacle, which would mean an over 50% increase from the current price of $2.14.
Stability above $3.2 could support extended rallies toward the resistance regions at $5 and $7.
Crypto Target stated:
To confirm momentum: look for a reclaim of the middle followed by a continuation towards $3.2+.
All eyes remain on Monday, with the tournament’s buzz as a catalyst for the potential breakout on the daily chart.
The post Axie Infinity's Elite 8 Tournament starts next week: will AXS price rally 50%? appeared first on Invezz
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