$AXS
Is GameFi Returning or Is This a Speculative Peak?
Axie Infinity (AXS) has shocked the market with a massive +29.89% daily surge, trading at $2.047. This explosive move follows a long period of quiet, outperforming major gaming peers like Gala and The Sandbox.
The daily chart shows a vertical "God Candle" that peaked at $2.260, marking a significant breakout from its multi-month lows.
The price is now trading well above its MA(7) ($1.374), MA(25) ($1.036), and MA(99) ($1.199). This confirms a powerful trend reversal, though the wide gap from the MA(7) suggests the price is currently extended.
The RSI(6) is at 89.72, indicating the asset is extremely overbought. While this shows intense buying pressure, it historically warns of a pending short-term correction.
24-hour volume has exploded to over $121M (USDT), a massive 1,600% increase that signals institutional-level participation rather than a small retail spike.
On January 7, 2026, the team disabled Smooth Love Potion (SLP) rewards in the Origins mode to curb bot farming and reduce inflation.
Co-founder JiHo recently pledged a 2026 roadmap focused on "larger risks," including the Atia’s Legacy MMO Open Beta, aimed at reviving player growth.
The introduction of the Axie Score-based rewards and the bAXS app token has significantly improved holder sentiment.
If AXS can hold support above $1.85, it may consolidate before attempting a breakout toward the next major resistance at $2.25 - $2.40.
Given the extreme RSI of 89.7, a retracement to the $1.50 - $1.65 zone to retest old resistance as support is highly likely.
Exchange netflows for AXS recently hit a 3-year high, suggesting some whales are moving tokens to exchanges to take profits at these levels.
Final Insight
The "GameFi is back" narrative is driving this move. While the fundamentals (SLP halt, 2026 roadmap) are strong, the technical indicators are flashing red for a pullback. Aggressive buying at $2.04 carries high risk waiting for a dip toward $1.60 may offer a better entry.