$AXS The on-chain data reveals a significant distribution phase by the whales. Despite 133 whales in buying positions making profits close to a million dollars, the net selling volume in the last 30 minutes (381.57 thousand versus 176.04 thousand) indicates that major players are selling to provide liquidity for individual buyers.

The 4-hour chart confirms a break from the local peak at $2.98, where the price is now trading below the EMA(7) and EMA(25) averages.

A bearish crossover is imminent as the price targets the EMA(99) support near $2.02.

Despite the recent rise, stagnation in user growth and increased coin supply on exchanges suggest that this rally lacks fundamental support.

AXS
AXSUSDT
2.157
-8.60%

Trade Details:

Direction: Sell (Short)

Entry: $2.306 - $2.350

Take Profit: $2.030 (main EMA(99) support)

Stop Loss: $2.450 (above EMA(25) resistance)

Leverage: Medium (10x - 12x)

Risk Warning: Axie Infinity is a highly volatile coin, having recorded a 200% increase earlier this year. Use strict stop-loss orders to guard against any sudden "short squeezes" driven by whales.