Axie Infinity’s price is hovering above a 4-year low of $1.20
Axie Infinity stock jumped 13% to $1.30 as bulls rallied more than 30% this week. Top gaming ecosystem brands including Gala and Sandbox continue to lag the broader market. AXS price could rise to $2.25 if it hits a four-year low.
The Axie Infinity token has surged more than 13% in the past 24 hours, recovering from recent losses that pushed AXS to its last seen low in 2021.
As renewed investor interest allows bulls to recover from four-year lows, the technical picture is likely to continue to the upside.
A number of altcoins trying to reverse after a long period of pressure, the sentiment on crypto may increase the advantage of the bulls.
Axie Infinity is more than other gaming symbols
Market data in the early US hours of January 16, 2025 showed the price of Axie Infinity hovering around $1.23. However, buying pressure saw the token trade higher at $1.30, not far from the weekly resistance level reached around $1.35 on January 14.
At the end of December, Axi Infinity fell to $0.78, the lowest mark since rising from $0.73 to $1.18 in January 2021.
The token rallied more than 30% last week, revisiting the $1.00 level before reflecting new buying momentum.
Looking at the ecosystem of gaming tokens, CoinMarketCap data shows that AXS has outperformed its peers over the past 24 hours and weeks.
Immutable, Gala, Floki, The Sandbox, Decentraland and MultiversX are all struggling. Can Axie Infinity continue to buck the trend?
Axie Infinity price prediction
While AXS isn't completely out of the woods after its sharp decline at $165, a move below $1 could test the bears' resolve.
Positive developments in the Axie Infinity ecosystem, including economic adjustments and upcoming game updates, could combine with overall market sentiment to bolster upward price action.
For example, Axie Infinity introduced the App Token (bAXS), which means that instead of AXS, holders can now hold bAXS.
This token can be paid or withdrawn directly by Axie Core. Analysts say the launch of bAXS is a big step for Axie Infinity and its adoption will benefit AXS.
From a technical perspective, the daily chart shows the Relative Strength Index (RSI) at 66.
This suggests that bulls have room to extend gains before entering overbought territory.
Meanwhile, the Moving Average Convergence Divergence (MACD) recently marked a bullish cross and showed an expanding histogram.
If it holds key support at $1.20, the next hurdle could be around $1.50 and $2.25.
On the downside, a break below the psychological support level encourages sellers, allowing for another multi-year low.
