Ah, Axie Infinity-how fickle are thy fortunes! At this very moment, the digital beast had galloped ahead of its gaming brethren, boasting a princely 39% surge in a mere day. Indeed, the coin had swelled by 50% in a week, and-oh, the audacity!-93% since the year’s dawn. Such ambition! Such folly?
During this spectacle, AXS had commanded the highest trading volume in its realm, flaunting three straight days of $100 million. The daily volume, ever the capricious sprite, leapt by 190%, soaring to $326 million-or so claimed CoinMarketCap, that tireless chronicler of digital whims.
This, dear reader, was proof of AXS’s fleeting dominance. Yet, despite its bullish bravado, the coin remained shackled within a vast, downward-sloping corridor. And so, we ask-with a smirk-will it break free, or merely stumble further?
AXS Stares Down a Multi-Month Channel-Will It Blink?
A glance at AXS’s daily chart revealed the coin creeping toward the upper resistance of a descending channel-a downtrend so cruel it had dragged AXS to a four-year low in December. But lo! The bulls returned, igniting this current, feverish ascent.
With Web3 gaming back in vogue (how fashionable!), the bulls might just shove the price past resistance. A breach above $1.50? Why, that could spark a 200% rally-to $4.70! (Or, you know, it could all collapse spectacularly.)
But beware! The bears, ever the party poopers, may yet retaliate, crushing bullish dreams like stale breadcrumbs. Should they prevail, the anticipated reversal would vanish-and AXS? Oh, it would resume its tragic descent.
Price Trapped Between Liquidity Clusters-Like a Ham Sandwich
CoinGlass whispered that liquidity clusters huddled above $1.30 to $1.60. AXS, ever the opportunist, had absorbed liquidity above it-like a glutton at a buffet.
Now, most clusters loomed above $1.50, though a few lurked below. A sign that bulls and bears alike still toyed with the coin-like cats with a particularly unlucky mouse.
The altcoin’s spike? Ah, just a short squeeze-clearing sell orders like a janitor after a wild party. But be warned: liquidity is a fickle magnet, and a retracement could drag AXS back down-perhaps toward those lurking orders below $1.50.
Supply Crunch? Or Just Wishful Thinking? 🤔
AXS had slashed its token supply, disabling Smooth Love Potion (SLP) rewards-because nothing says “financial strategy” like cutting off love potions. Daily emissions plummeted by 90%, raising hopes of a supply crunch.
Meanwhile, the community-ever the optimists-voted to stake 9 million Ethereum (ETH) from the treasury. Institutional-grade execution? Or just desperate gamblers doubling down? You decide.
If supply stays low and demand rises… well, genuine buyers might just propel AXS higher. Or not. Who knows?
Final Musings (Because We Must Conclude)
- AXS has surged 93% this year-because why not?
- The $1.50-level looms-like a final boss in a badly designed game.
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2026-01-18 06:20