AXS (Axie Infinity) sees 59.7% volatility in 24 hours: Trading volume surges over $700 million as gaming sector rebounds

Volatility Overview

In the past 24 hours, AXS price rebounded from a low of $1.120 to a high of $1.789, currently quoted at $1.514, with a price fluctuation range reaching 59.7%. The 24-hour trading volume surged to $713 million, significantly higher than usual levels.

Brief Analysis of the Abnormal Movement

- Trading volume explosion: 24-hour trading volume reached $713 million, pushing the price sharply up from the low near $1.10.

- Gaming sector correlation: AXS rose 53%, while Ronin network token RON increased 15% simultaneously, reflecting an overall rebound in the blockchain gaming sector.

No official announcements or reports of specific on-chain whale events, only market data showing high volatility.

Market Views and Outlook

The mainstream market sentiment is cautiously optimistic. According to Coingecko, the 24-hour price increase is 34.31%, with traders focusing on the momentum of the rebound. Technical analysis from the X community points out that after the price touched the 4-hour demand zone, there is potential for an upward move with a risk/reward ratio of 1:2.76. Analysts also note caution for a pullback to the $1.10 support level, otherwise the trend may turn bearish.