Axie Infinity’s native token AXS surged over 36% in 24 hours, reaching approximately $2.59 amid a more than 150% increase in trading volume. The breakout followed weeks of consolidation and was accompanied by a sharp 24% drop in exchange reserves, indicating reduced immediate sell pressure. Open Interest in derivatives also jumped over 41% to nearly $186 million, signaling leveraged traders are participating in the move.
The price of AXS reclaimed the $2.60 zone decisively, turning it into a new level of structural support. This shift suggests buyers now control short-term price direction, with the next major resistance seen near $3.00.
Data from CryptoQuant shows AXS exchange reserves dropped roughly 24% to $7.5 million during the rally. This tightening of sell-side supply can increase volatility but currently suggests holders are removing tokens rather than preparing to sell.
The Moving Average Convergence Divergence (MACD) indicator flipped decisively bullish after an extended period of compression. The signal line crossed higher with force.
According to CoinGlass, the Open Interest surge of over 41% shows leverage rushing back alongside the price momentum. This alignment supports a continuation bias, though high leverage also introduces fragility if the price stalls.
The sustainability of the breakout now depends on buyers defending the $2.60 region. Analysts note that holding this level would keep upside pressure intact toward higher resistance zones near $4.00.
