The post Axie Infinity – Here’s what traders should bet on after AXS’s 39% hike appeared on BitcoinEthereumNews.com.

At the time of writing, Axie Infinity had outpaced its fellow gaming tokens with gains of 39% over the last 24 hours. In fact, the altcoin has seen over 50% gains this week alone, having appreciated by 93% since the year started. During this rally, AXS had the highest trading volume in the sector after three consecutive days of $100 million. The daily trading volume spiked by more than 190%, climbing to $326 million according to CoinMarketCap. This is evidence of AXS’s dominance over other gaming tokens. However, despite the altcoin’s bullish strength since the start of the year, it remains trapped within a massive downward channel. Hence, the question – Is a breakout on the way? AXS eyes multi-month channel breakout A look at AXS’s daily chart revealed that the altcoin was approaching the upper resistance of a multi-month descending channel. This downtrend saw AXS hit a four-year low in December, before bulls returned and ignited the ongoing price trajectory. With the Web3 gaming sector back in the midst of traders, bulls could push the price past the descending trendline resistance. A break and hold above $1.50 could see it rally by more than 200% – To around $4.70. Source: AXS/USDT on TradingView Worth noting, however, that the market bears could also retaliate, preventing bulls from higher advances. If that happens, the anticipated trend reversal would be ruled out and possibly, the price would extend its current trend. Price sandwiched between liquidity clusters The liquidity clusters were concentrated above $1.30 to $1.60, as per data from CoinGlass. AXS’s price rallied as it absorbed liquidity that was sitting above it on the charts. At press time, most of the clusters were concentrated above $1.50. However, there were some that semed to be forming below this level too. This suggested that both…

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Filed under: News - @ January 18, 2026 3:02 am