AXS Technical Analysis Feb 6

AXS continues its bearish trend while approaching critical support zones around 1.37 dollars; RSI is neutralizing at the 42 level, while Bitcoin’s downtrend pressure is delaying the altcoin rally.

Market Outlook and Current Situation

Axie Infinity’s native token AXS is trading at the 1.37 dollar level with a 4.20% decline over the last 24 hours. A clear downtrend dominance is evident on the daily timeframe; the 24-hour range stayed within the 1.17-1.44 dollar band and volume dropped to 234.55 million dollars. This movement aligns with the consolidation experienced by the overall crypto market under Bitcoin’s leadership. After suffering losses of up to 70% since the October 2025 peak, AXS has been stuck in the 1.20-1.50 dollar corridor in recent weeks. Market sentiment is fueled by low-volume sales, while the overall slowdown in the GameFi sector is also triggering downward pressure on the price.

In a multi-timeframe context, the downtrend is solidifying on the 1D chart, with bearish signals prominent on the 3D and 1W timeframes as well. A total of 15 strong levels have been identified: 3 supports/3 resistances on 1D, 2/2 on 3D, and 2/4 distribution on 1W. This confluence indicates that AXS is vulnerable to short-term volatility. There are no significant catalysts in the news flow; however, development updates in the Ronin ecosystem preserve long-term potential. Investors can review position details in the AXS spot analysis.

In recent weeks, AXS has continued to stay below the EMA20 (1.77 dollars), reinforcing the short-term bearish structure. The Supertrend indicator is also pointing to the 2.21 dollar resistance. While the market remains distant from the general altcoin rotation, a volume increase appears necessary for AXS’s recovery.

Technical Analysis: Levels to Watch

Support Zones

The most critical support is at the 1.2233 dollar level (score: 76/100), where 1D and 3D timeframe confluences form a strong base. This level is an untested region since the November 2025 lows; if broken, 1.0141 dollars (69/100) comes into play, aligning with the 1W trendline. In a deeper correction, 0.7590 dollars (66/100) activates as a long-term support around the psychological 0.75 dollar level. These supports align with Fibonacci retracement levels at 61.8% and 78.6%; historically, 20-30% rebounds have been observed from these zones. In AXS’s current downtrend, holding 1.2233 dollars could provide short-term relief.

Resistance Barriers

On the upside, the strongest resistance is at 1.8783 dollars (83/100), coinciding with the EMA50 and 1W pivot. If this level is not overcome, intermediate resistances at 1.6139 dollars (72/100) and 1.4027 dollars (62/100) will sustain selling pressure. The 1.4027 dollar level is near the current 24-hour high and reinforced by Supertrend resistance. According to historical data, these resistances have resulted in 5-10% pullbacks. In a bullish scenario, breaking 1.8783 dollars could lead to the 2.21 dollar Supertrend target; however, the current momentum does not support this.

Momentum Indicators and Trend Strength

RSI is at the 42.01 level, balancing in the neutral-bearish zone without approaching the oversold region (below 30). While this signals a potential short-term bottom formation, the lack of divergence delays a trend reversal. The MACD shows a negative histogram and signal line crossover, confirming bearish momentum; the narrowing histogram provides a slowdown signal. On the EMAs side, the price continues to stay below EMA20 (1.77 dollars), keeping the golden cross possibility at bay. The impact of the 50/200 EMA death cross persists.

The Supertrend is giving a bearish signal, while ADX around 25 indicates a moderately strong downtrend. In Volume Profile analysis, the 1.20-1.30 dollar band stands out as a high-volume POC (Point of Control); efforts to defend this zone are visible. On multi-timeframe, the 1W RSI at 35 signals a bottom, but the 3D MACD carries bearish divergence risk. Although overall trend strength is weakening, downward pressure dominates; a 50% increase in volume is required for an upside breakout.

Risk Assessment and Trading Outlook

When calculating the risk/reward ratio from current levels, the probability of reaching bearish targets (below 1.01 dollars) appears higher than the bullish 3.60 dollar target (low score 22/100). For short positions, 1.40 dollar resistance as stop-loss and 1.22 dollars as target are reasonable; longs offer R/R 1:2 potential up to 1.61 dollars above the 1.22 dollar support. Volatility is high; ATR is around 0.15 dollars daily. Market outlook is bearish-leaning consolidation; Bitcoin stabilization is awaited for recovery. Extra caution is needed for leveraged strategies via AXS futures. While GameFi growth is positive long-term, short-term risks prevail.

Potential scenarios are balanced: 60% probability of testing 1.22 dollars, 30% rebound to 1.61, 10% direct downside breakout. Volume and news flow will be decisive.

Bitcoin Correlation

AXS shows high correlation with Bitcoin (%0.85+), directly affected by BTC’s downtrend. While BTC consolidates at 68,115 dollars, the Supertrend bearish signal is a red flag for altcoins. BTC’s main supports are at 65,881, 62,910, and 60,000 dollars; breaking these could drag AXS below 1.00 dollar. Conversely, if BTC breaks the 69,812 dollar resistance (followed by 73,341 and 76,904), AXS could rally 15-20% toward 1.61-1.88 dollars. Rising BTC dominance is delaying altcoin rotation; AXS investors should closely monitor BTC’s 65k support.