• Axie Infinity sees investors coming back as the dust settles on Ukraine.
  • AXS is set for 9% gains intraday, and a break above the high of Monday.
  • By the end of this week, that 9% could be quadrupled into 36% gains, towards a $65.00 target.

Axie Infinity (AXS) was on the cusp of breaking below $44.45, but markets turned in sentiment just in time to avoid retesting the level. As a result of the turnaround shift towards risk-on, both equities and cryptocurrencies are feeding off each other for tailwinds, which have already returned AXS bulls a solid 9% since Tuesday. As for today, the bar looks set at $56.07, the high of Monday, and for later this week, even $65.00 could be hit if this rally keeps popping higher.

AXS is a perfect trade setup for both short term and longer-term

Axie Infinity is no outlier in relief rallies and is enjoying some tailwinds to make some breakout profits. From a technical trade point of view, AXS bulls already have 9% of gains on the books since the turnaround yesterday and are set to add another 9% more once $56.07 has been hit later in the US session. With a break and preferably a daily close above $56.07, a robust and bullish signal would be delivered to the markets, attracting even more buyers to join the rally as yet another 18% is on the table with $60.36 as the next profit target and $65.00 as the ultimate level.

AXS bulls are thus in for a very well-balanced trade and rally. The Relative Strength Index (RSI) will not crash the party. The index is only starting to shift away from barely being oversold and now trades at more moderate levels, with still plenty of room before being overbought. With that, it is up to investors and bulls to sit on their hands and wait for AXS price action to hit $65.00, where the 55-day Simple Moving Average (SMA) and the monthly pivot intersect with one another.

AXS/USD daily chart

AXS/USD daily chart

Although the geopolitical situation has moved slightly to the background, do not expect this to be over. Any new sanctions or retaliation in any form could easily see markets falling on the back foot again. If that should happen, the gains from today and Tuesday will be erased as non-existent. Following a breach below $44.45, the next supportive known level will be around $26.70 –  below $30.00. 


 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

IRS says crypto staking should be taxed in response to lawsuit

IRS says crypto staking should be taxed in response to lawsuit

The IRS stated that rewards from cryptocurrency staking are taxable upon receipt, according to a Bloomberg report on Monday, which stated the agency rejected a legal argument that sought to delay taxation until such rewards are sold or exchanged.

More Cryptocurrencies News
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.

More Solana News
Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses

Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses

Ethereum is up 4% on Monday despite increased selling pressure across long-term and short-term holders in the past two days. If whales fail to maintain their recent buy-the-dip attitude, ETH risks a decline below $3,000.

More Ethereum News
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery

Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery

The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election. 

More Cryptocurrencies News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP