Axie Infinity Volume Surge Sparks 10% Gain, Continued AXS Rally Seems Unlikely

• AXS daily volume spiked to $423M on 31 Aug

• Price reached $2.80 intraday and closed at $2.52 amid range resistance.

• On-chain metrics and a sparse liquidation cluster near $2.4 signal limited bullish conviction.

Axie Infinity price surge driven by $423M volume on 31 Aug; read analysis and levels to watch for AXS momentum.

What caused the Axie Infinity price surge on 31 August?

Axie Infinity price rose 10% after daily trading volume for AXS spiked to $423 million on 31 August, largely due to elevated altcoin flows on South Korean exchanges. The surge produced a sharp intraday high but met strong mid-range resistance, limiting follow-through.

How large was the volume spike and where did it come from?

The $423 million AXS volume on 31 August was around 14x higher than the prior week’s average of ~$30 million. South Korean trading venues showed heavy activity in several altcoins, suggesting regional order flow concentrated the move. Official exchange data and market trackers reported the spike as an outlier versus recent averages.

Volume surge and short-term price context

Axie Infinity (AXS) saw $423 million in daily volume on 31 August, a near 15x jump from the prior-week average of about $30 million. The surge coincided with broad altcoin flows in the South Korean market and produced a sharp intraday move up to $2.80 before profit-taking.

Since April, AXS has traded in a defined range from $2.10 to $3.42, with a midpoint at $2.76. The intraday high met the midpoint resistance, and sellers pushed price back to close at $2.52.

What do technical indicators say about momentum?

The A/D indicator declined over recent days, signaling seller dominance despite the surge. The Awesome Oscillator recorded a bullish crossover above zero, which indicates short-term momentum, but this signal alone is insufficient without steady buying pressure. Key resistances to monitor are $2.51, $2.65, and $2.77.

Source: AXS/USDT on TradingView

Why the rally may not continue

Front-loaded: market-wide bearishness and weak accumulation suggest limited follow-through. The liquidation heatmap shows a modest liquidity cluster near $2.4, but a stronger magnetic zone exists at $2.1–$2.2. Sparse liquidity around $2.4 reduces the likelihood of a sustained breakout above mid-range resistance.

Source: Coinglass

When is buying AXS viable again?

Buying in the demand zone around $2.1–$2.2 appears viable according to the range structure and liquidation heatmap. Traders should wait for confirmation via increased accumulation or a decisive break above $2.77 with sustained volume.

Frequently Asked Questions

How significant was the AXS volume increase on 31 August?

The daily volume jumped to $423 million, nearly 14–15x the prior week’s average of about $30 million, marking a single-day abnormality rather than steady accumulation.

Will AXS continue to rally after the volume spike?

Current technicals and market breadth suggest limited continuation unless buyers sustain pressure past $2.77; otherwise the price may revisit the $2.1 demand zone.

Key Takeaways

• Volume-led rally: AXS saw $423M in daily volume on 31 Aug, fueling a 10% price move.
• Range resistance: The mid-range at $2.76 capped gains; key resistances are $2.51, $2.65, $2.77.
• Watch demand zone: $2.1–$2.2 is a high-liquidity support area where buying could be viable.

Conclusion

Axie Infinity price experienced a meaningful but likely transient 10% rally driven by an unusual $423 million volume spike. Technical indicators and liquidation maps indicate that sustainable bullish momentum is unconfirmed. Monitor accumulation, volume sustainability, and the $2.1–$2.8 range for clearer directional signals. COINOTAG will update this story as new data emerges.

Disclaimer: The information presented does not constitute financial, investment, trading, or other advice and is solely the writer’s opinion.