Axie Infinity (AXS) is approaching a significant breakout, as the price holds at the $2.20–$2.30 support level. This article explores current market conditions and potential scenarios for AXS.
Testing Resistance After Months of Compression
As of the time of writing, Axie Infinity is priced at $2.38, recording a 1.06% daily increase and a 4.12% weekly rise. The trading volume over the past 24 hours stood at $24,040,834, suggesting stable liquidity. AXS has been locked in a descending triangle since early 2023, with each upward movement capped by resistance while the $2.20–$2.30 zone has consistently provided support.
Signs of Accumulation Near Key Levels
The chart shows that each approach to the $2.20–$2.30 zone has attracted new demand. Momentum indicators support this outlook: the RSI has trended higher while price movement remained relatively flat, indicating strengthening momentum. Additionally, volume spikes during resistance tests imply active participation from larger market players.
Upside Targets and Risk Levels
Provided that AXS breaks out above the resistance, levels of $2.65, $3.15, $3.70, and $4.60 present reasonable targets. Each level is linked to historical areas of resistance. However, the setup remains vulnerable to false breakouts; if the price fails to decisively close above resistance, AXS may retrace toward its long-established support zone.
Axie Infinity indicates strengthening positions which may lead to considerable price changes. Traders should closely monitor resistance levels and buyers' interactions with the market.
