AXS fell fast after a blockage near $1.25 and fell to $1.03 within 24 hours. According to foreign sources, despite the apparent decline in prices, the deal did not cool, but rather showed that the buyers and sellers were still playing hard.
The volume of transactions rose to $71.3 million in the same period, an increase of approximately 67.3 per cent per day. This means that there is still significant financial involvement in the recall process, and the market has not been rapidly cooled by a fall.
The spot still hasn't stopped.
Citing CryptoQuant data, the article states that Spot Tucker CVD is still buyer-led, suggesting that during the period under observation there were still more active than active purchase orders. The fall in prices was accompanied by a lack of synchronization between spot demand and the order stream.
This usually means that part of the funds is still taking over the profit margin after the upturn, rather than being withdrawn altogether. However, if the seller continues to release the chips, the purchase will need to be further enhanced to help stabilize prices in the current region.
Exchange reserves continue to decline.
Another data of concern is exchange stocks. According to the article, Exchange Reserve of AXS was further reduced by 5.93 per cent to approximately $8.61 million, continuing the previous downward trend.
The reduction of marketable chips on exchanges usually means that more tokens are transferred to private wallets or long-term holding addresses. While this is not directly equivalent to an immediate rebound in prices, it reduces the liquidity available for sale in the short term.
In the current round, the decline in reserves coincided with the fall in prices, suggesting that the holders did not concentrate the AXS back to the trading platform on a large scale. This makes supply-side pressure seem relatively manageable.
1.203 US$ resistance level still pending retesting
In terms of the dynamic structure, AXS had previously breached the down tunnel since late April and then stepped back on it. According to the article, this fall is more a confirmation of support after a breakthrough than an immediate weakening of the trend.
With regard to indicators, the MCD line remains above the signal line, and the column chart remains in the positive range, indicating that the short-line structure has not been completely destroyed. The upper resistance position is close to $1.203 and the lower main support position is approximately $0.882.
If the buyer was able to secure the current retrogression area, AXS would still have the opportunity to rediscover the aforementioned resistance position; if the depression continued to prevail, the pace of restoration could slow further.