Chainlink, Axie Infinity & Polygon — Asian Wrap 11 Nov

Chainlink price action sent bulls and bears into a tails spin during the Wednesday trading session. After hitting new five-month highs, Chainlink gave up most of the double-digit percentage gains. The drop was a perfect combination of technicals leading fundamentals.

Axie Infinity price continues to press higher and create new all-time highs. Some short-term profit-taking is expected, but buying is expected to return to rally Axie Infinity to highs that could double Axie Infinity above its current $150 trading range.

MATIC price may be nearing the end of its pull-back after reaching the new multi-month highs back in late October. Buyers have stepped in to support MATIC and could surprise a lot of new short sellers. MATIC price has a theoretical long trade setup ahead.