Axie Infinity maintains its upward momentum, bulls target $3

Axie Infinity (AXS) maintains an impressive upward momentum with an additional 8% increase, trading steadily above the $2.56 mark at the time of recording on Thursday, extending a streak of over 37% gains for the week. The upward drive is further supported by increasingly strong accumulation activity from “whales.” From a technical perspective, the bulls are in control of the trend, raising expectations that AXS will soon break higher price levels, aiming for the above $3 region.

Whale Supply Accumulation Volume Increases

Supply distribution data from Santiment strongly supports the bullish outlook for Axie Infinity, amid signs of accelerated accumulation activity by “whales.”

Specifically, large wallet groups holding 100,000 – 1 million AXS (red line), 1 – 10 million AXS (yellow line), and 10 – 100 million AXS (green line) purchased a total of 100.56 million tokens from January 12 to Thursday, indicating growing confidence from major institutional and individual investors.

AXS Supply Distribution Chart | Source: SantimentMeanwhile, Santiment data records the total transaction volume across the entire AXS ecosystem—including the total value of transactions from all on-chain applications—reaching $1 billion on January 17, the highest since November 2024, before stabilizing around $713.59 million on Thursday. The increasing volume reflects growing market interest and abundant liquidity, further reinforcing the bullish scenario for Axie Infinity.

AXS Trading Volume Chart | Source: Santiment## Price Forecast for Axie Infinity: Bulls in Control

The price of Axie Infinity (AXS) has decisively broken above the downtrend line (drawn connecting the peaks from mid-May) on Saturday. After this rally, AXS corrected about 17% over the next two days to retest the recently broken trendline. By Tuesday, strong buying interest returned, helping the price surge over 43% in a single day. As of Thursday, AXS remains positive, trading more than 8% higher around the $2.56 level.

Daily AXS/USDT Chart | Source: TradingView If the current bullish trend holds, AXS is likely to extend its recovery toward the weekly resistance zone at $3.02.

From a technical standpoint, the Relative Strength Index (RSI) on the daily timeframe is at 79, indicating overbought conditions and reflecting strong bullish momentum. Meanwhile, the MACD also signals positive momentum with a bullish cross (crossing upward), with expanding histogram bars, further supporting short-term bullish prospects.

However, in a correction scenario, AXS could retreat to test the weekly support zone around $2.26 before establishing the next trend.

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