Crypto & Forex June 23, 2026 0 Comments

Axie Infinity Tanks 12% After $1.25 Rejection — But These 2 Surprising AXS Metrics Could Spark A Massive Comeback!

When a token like Axie Infinity (AXS) makes a bold leap only to give back a chunk of those gains, you can’t help but wonder—are we watching a market hiccup or something deeper? Just recently, AXS surrendered much of its recent climb after hitting resistance near $1.25, tumbling to $1.03—a 12.3% dip that might look scary at first glance. But here’s the kicker: volume didn’t just hold steady; it surged by 67.3%, signalling a fierce tug-of-war between buyers and sellers rather than a market throwing in the towel. It’s like watching a rollercoaster where everyone’s still strapped in, waiting for the next move. And who’s stepping up? The spot buyers, who appear keen on snatching up discounted tokens even as the price retreated. Couple that with dwindling exchange reserves—meaning less AXS ready to flood the market—and you’ve got a recipe ripe with intrigue. Is this a classic case of profit-taking amid ongoing accumulation? Only time will tell if AXS can hold its breakout and eye the $1.20 resistance again or if the selling pressure will overwhelm the hopeful hands. Ready to dive deeper into this tug-of-war unfolding in AXS’s market story? LEARN MORE

Axie Infinity [AXS] surrendered a large portion of its recent advance after sellers stepped in near the $1.25 area and pushed the token lower.

The asset traded at $1.03 at press time, reflecting a 12.3% decline over the last 24 hours. Despite the retracement, market activity intensified rather than faded.

Trading volume climbed 67.3% to $71.34 million, indicating that participants remained highly engaged during the correction.

Earlier, AXS delivered a sharp breakout move that attracted fresh interest across the market. However, the latest decline suggested that many traders secured profits following the rapid rise.

Even so, elevated volume showed that buyers and sellers continued battling for control, keeping AXS among the more actively traded assets in the market.

Are spot buyers absorbing the selling pressure?

Spot market participants continued showing interest despite the recent decline.

According to CryptoQuant analytics, the Spot Taker CVD remained buyer-dominant, revealing that market buy orders continued to outweigh sell orders across the observed period. The trend suggested buyers had not fully stepped away even as the token corrected from its local high.

While price moved lower, spot demand remained relatively firm, creating an interesting divergence between market activity and price action.

Such conditions often reflect accumulation behavior rather than widespread capitulation.

Nevertheless, buyers still faced the challenge of absorbing supply from traders who secured profits during the rally.

If spot demand continues strengthening, AXS could stabilize above current levels.

Otherwise, persistent selling pressure could delay any meaningful recovery attempt over the near term.

AXS supply on exchanges keeps declining

Exchange-held AXS supply continued shrinking despite the market pullback.

Exchange Reserve dropped 5.93% to approximately $8.61 million, extending the downward trend visible in recent sessions.

The decline indicated that fewer tokens remained available on trading platforms, which often reflects movement toward private wallets or long-term storage.

Although exchange outflows do not guarantee immediate price appreciation, they frequently reduce readily available sell-side liquidity.

In this case, the shrinking reserve contrasted with the sharp decline in price, suggesting that holders had not rushed to move large quantities of AXS onto exchanges for disposal.

As a result, the broader supply picture remained relatively constructive. Should demand improve again, lower exchange balances could provide a supportive backdrop for another upward move.

Breakout retest now faces a crucial test

Price structure remained one of the most important developments on the chart. AXS had broken above a descending channel that had constrained price action since late April.

Following that breakout, the asset pulled back and revisited the former upper boundary of the channel.

Rather than signaling immediate weakness, such behavior often serves as a retest of a newly established support area. The current zone, therefore, carried significant importance for both bulls and bears.

The MACD line remained above the signal line, preserving the bullish crossover that emerged earlier in June.

In addition, the histogram stayed in positive territory, reflecting improving market conditions compared with previous weeks.

Resistance remained positioned near $1.203, while the next major support sat around $0.882. Buyers needed to defend the breakout region to preserve the improving structure.

If the retest held successfully, AXS could attempt another move toward overhead resistance.

Ultimately, AXS showed signs of cooling after a rapid rally, yet several underlying metrics remained supportive.

Spot buyers continued dominating order flow, exchange reserves kept falling, and the MACD structure stayed constructive.

If buyers successfully defended the breakout retest, AXS could challenge the $1.203 resistance level again.

Final Summary

Spot Taker CVD remained buyer-dominant, suggesting demand persisted despite AXS falling more than 12% in 24 hours.
Exchange Reserve dropped to $8.61 million, indicating fewer tokens were readily available for selling.