Axie Infinity (AXS) is stabilizing at a critical long-term demand zone after a multi-year decline, with technical analysis suggesting a potential inflection point. The token is trading at $1.23, having fallen nearly 99% from its all-time high. Key upside resistance levels are identified at $2, $5, and $10, while a break below the $0.45 support would invalidate the bullish structure. Short-term indicators remain cautious, with the price trading below key moving averages.
The Axie Infinity (AXS) token appears to be stabilizing at a key long-term demand zone following a prolonged decline. A recent technical analysis suggested the asset may be approaching a critical inflection point after its value dropped nearly 99% from its bull market high.
At the time of reporting, AXS was trading at $1.23, according to data from CoinMarketCap. The analysis notes the token is in a high-timeframe demand zone between $0.75 and $0.45, which represents a potential accumulation area.
Analyst Crypto Patel stated this zone is valid only “provided AXS can maintain a two-week closing basis above the critical $0.45 support level.” The identified upside liquidity levels are near $2, $5, and $10. A breakout above the mid-channel resistance on the two-week chart would be required to target these levels.
Conversely, a decisive move below $0.45 would undermine the case for a reversal. Short-term indicators currently show continued fragility for the asset. The RSI is at 41, below the neutral 50 level, indicating bullish momentum is not yet dominant.
The price is also trading below key moving averages, signaling bearish pressure. For the MACD indicator, the histogram shows a slight positive value of 0.00195, indicating a slowdown in selling pressure. The token’s long-term prospect is tied to the performance of the Axie Infinity ecosystem and the broader GameFi sector.
