Axie Infinity (AXS) is showing a head and shoulders bearish pattern, suggesting a possible 96% price drop. Currently trading at $6.1, less than 11% of holders are in profit. The Chaikin Money Flow (CMF) indicator is at a yearly low, indicating strong selling pressure. If the bearish pattern holds, AXS could drop to $4.0. A rally might occur if AXS rebounds from $5.3 and reclaims $7.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
