Axie Infinity’s AXS coin has been one of the top performers in the cryptocurrency market this week. While Bitcoin fell below $90k and Ether traded under $3k, AXS gained more than 100% in seven days. The rally is supported by rising whale accumulation and strong trading volume.
AXS hits $2.5 as Whales continue buying
AXS is trading above $2.5 per coin, up over 6% in the last 24 hours. The surge comes despite losses in leading cryptocurrencies. Data from Santiment shows that whales holding between 100,000 and 100 million AXS tokens accumulated over 100.56 million coins from January 12 to January 22.
Trading volume in the Axie Infinity ecosystem reached $1 billion on January 17, the highest since November 2024. Volume has remained strong, around $713.59 million, showing growing trader interest and liquidity. This adds extra bullish momentum for AXS.
Bulls target $3 as momentum remains strong
The AXS/USD 4-hour chart shows a bullish trend. The coin broke above a descending trendline this week and found support before rallying 43% on Wednesday. At press time, AXS trades at $2.56, up 6.5% in 24 hours.
If the momentum continues, AXS could reach the weekly resistance at $3.02, its first test since July 2025. A further extended rally could push the coin above $3.8. Technical indicators support this outlook. The Relative Strength Index reads 71, signaling strong bullish momentum, while the MACD shows a bullish crossover.
On the downside, a correction could push AXS toward weekly support at $2.26. If bulls fail to defend this level, the coin could retest the low at $1.617, wiping out recent gains.
