The price of Axie Infinity has surged by 13%, reaching nearly $1.30, with bullish investors extending their gains to over 30% last week. Other major gaming ecosystem tokens, such as Gala and The Sandbox, continue to lag behind the broader market. Should the momentum from this four-year low hold, the price of AXS could rise to $2.25.
Axie Infinity Outperforms Other Gaming Tokens
Market data early on January 16, 2025, indicated that Axie Infinity was trading around $1.23. However, strong buying pressure drove the token up to $1.30, close to its weekly resistance level of $1.35 reached on January 14.
In late December, the price of Axie Infinity dropped to $0.78, marking its lowest point since a breakout from $0.73 to a high of $1.18 in January 2021.
Over the past week, the token has rebounded by more than 30%, returning to $1.00 before embarking on a new rally supported by a wave of buying activity.
In the competitive landscape of gaming tokens, data from CoinMarketCap reveals that AXS has surpassed its peers over the past 24 hours and weeks, while Immutable, Gala, Floki, The Sandbox, Decentraland, and MultiversX struggle. The question remains: can Axie Infinity maintain this upward trend?
Axie Infinity Price Forecast
Despite a strong rebound, AXS is not completely out of trouble, having peaked at $165. A recovery below $1 could test bearish sentiment.
Positive developments within the Axie Infinity ecosystem, such as economic adjustments and upcoming gameplay improvements, may align with overall market sentiment to support price growth.
For instance, Axie Infinity recently introduced an App Token (bAXS), allowing holders to own bAXS instead of AXS. This new token can be staked or spent directly within Axie Core, marking a significant step for Axie Infinity, with analysts believing that its adoption will benefit AXS.
Technically, the daily chart indicates a Relative Strength Index (RSI) of 66, suggesting that bulls still have room to extend gains before entering overbought territory.
Furthermore, the Moving Average Convergence Divergence (MACD) recently signaled a bullish crossover, showing an expanding histogram. If key support holds at $1.20, the next targets could be around $1.50 and $2.25. Conversely, falling below the psychological support threshold may trigger sellers, potentially leading to new multi-year lows.
John is a seasoned journalist at The Bothside News, specializing in balanced reporting across news, sports, business, and lifestyle. He believes in presenting multiple perspectives to help readers form informed opinions. His work embodies the publication’s philosophy that truth emerges from examining all sides of every story.
