AXS pulls back after 41% rally as whales add 160,000 tokens

Beincrypto reports that Axie Infinity (AXS) has pulled back after a roughly 41% rally, even as whale wallets added about 160,000 AXS; the token is down more than 17% day-on-day after hitting resistance near $3.00.

Technical and on-chain indicators present a mixed picture: a bearish harami formed near recent highs — a pattern that preceded a nearly 26% correction on January 18 — while the Money Flow Index trended lower between January 17 and January 23, suggesting dips were not being bought as aggressively. On-chain data show whales increased holdings from about 243.78 million to roughly 243.94 million AXS since January 22 (around 160,000 tokens, worth roughly $430,000 at the current price), and exchange flows moved from heavy inflows of about 4.07 million tokens on January 15 to outflows of about 465,000 on January 18; as of January 24 outflows had slowed to roughly 112,000 tokens.

Analysts flagged $2.54 as a key level: failure to reclaim it could deepen the pullback toward $2.20 and $1.98, while a clean reclaim above $2.54 might allow the rally to resume. Whales’ selective buying adds some support, but the bearish candlestick signal and weakening MFI mean short-term downside risk remains.

Key Topics

Crypto, Axie Infinity, Axs, Whales, Santiment, Money Flow Index