AXS
For weeks, the Axie Infinity token has been continuously forming lower lows and reached its critical support area of $4. However, the token looks oversold and could see a bounce in the future.
Notably, it has reached the demand zone and could pull back from there. Buyers will continue to fight and watch for a bounce before it breaks the $4 mark.
The intraday decline is over 9.80%, reflecting the subsequent sharp sell-off this week. It fell below the $5 pivot and fell below the 20-day moving average mark.
The company is ranked 166th and has a market cap of $284.98 million. The positioning of the AXS token is worrying for the bulls. Investors seem to be afraid of taking any new long trades amid the broader market bearish sentiment.
It has been range-bound and moving sideways since 2024; the $12 supply zone and the $4 demand zone have been firmly held over the past few months.
