3 signs Axie Infinity price risks giving up its 135% gains in January
AXS price has formed a "gravestone" doji on its daily chart that coupled with its recent token unlock event hint at a potential bearish reversal ahead. Axie Infinity (AXS) has rallied 135% month-to-date to reach approximately $14 on Jan. 23, its highest level in two months. Nonetheless, the AXS/USD pair could suffer major losses in the coming weeks owing to a flurry of negative technical and fundamental indicators. Axie Infinity price prints "gravestone" doji The AXS price formed a "gravestone doji" candlestick on Jan. 23, which technical analysts view as a bearish reversal pattern. A gravestone doji appears when an asset's opening, closing, and the lowest price comes to be nearly identical except for the highest price, as shown in the chart below. The long upper wick shows that the bears pared all of the gains printed by the candle during the given session. AXS/USD daily price chart featuring gravestone doji. Source: TradingView AXS seems to have b...