TL;DR:
- AXS records a gain of over 12%, reaching highs of $2.54 while defying the broader market’s bearish trend.
- The Axie Infinity ecosystem is experiencing a revival driven by key updates and accumulation from large investors.
- Analysts warn that despite the optimism, indicators such as the RSI and MACD suggest potential selling pressure.
In an otherwise sluggish market, Axie Infinity’s price managed to break away with a double-digit rally over the last 24 hours. While major assets like Bitcoin struggle below the $90,000 mark, the AXS token climbed above $2.50, attempting to regain the momentum lost after the weekend.
This bullish movement comes at a time when precious metals, such as gold and silver, have captured much of the institutional capital. Nonetheless, Axie Infinity has shown resilience, once again attracting interest from traders seeking opportunities in the blockchain-based gaming sector.
Unlike other projects such as The Sandbox or Decentraland, which have shown flat price action, AXS is leading this niche. The momentum is fueled by constant ecosystem updates and notable “whale” accumulation, placing it at the forefront of a potential GameFi resurgence.
Technical Analysis: Key Resistances and Correction Risks
In the short term, bulls have their sights set on the psychological resistance of $3.00, a level that acted as a hurdle last week. If buying volume persists, the next major technical target for Axie Infinity’s price is situated at $5.10.
However, the technical outlook invites caution due to signs of fatigue in momentum indicators. Both the MACD and RSI show a negative setup, which could lead to a profit-taking phase by investors who entered at lower levels.
In summary, to maintain the bullish structure, it is crucial for the asset to hold the $2.00 support in the coming days. In the event of a downward break, the market could test deeper liquidity zones at $1.86 or even $1.20, potentially invalidating the current optimism.
