Date: Sat, March 15, 2025 | 09:20 AM GMT
The cryptocurrency market is showing signs of stabilization as Bitcoin (BTC) has bounced back from its recent dip near $76,000 and is now trading around $84,000. This positive shift is giving altcoins a much-needed boost—particularly gaming tokens like Axie Infinity (AXS) and Ronin (RON), both of which have suffered heavily over the last 90 days.
Now, with both tokens nearing key resistance levels inside their respective falling wedge patterns, traders are watching closely. A breakout here could be the signal bulls have been waiting for.
Axie Infinity (AXS)
AXS has been trapped in a falling wedge—a classic bullish reversal pattern—since it faced rejection at the $10.26 level back in early December. The token dropped more than 75% over the past three months, hitting a bottom at $2.51 on March 11.
But things are starting to turn around. AXS has climbed back to $3.24 and is now knocking on the upper resistance line of the wedge. If it manages to break through and confirm the move with a retest, the next target could be around $4.18, aligning with the 50-day moving average (MA).
If momentum picks up, a stronger rally could push AXS toward the $5.66 zone near the 100-day MA—a potential 72% move from current levels.
Ronin (RON)
RON has followed a similar path. The token peaked at $2.73 in mid-December but has since dropped over 69%, finding support at $0.66 on March 11. Now, RON is trading at $0.83 and is inching closer to breaking out of its falling wedge pattern.
A successful breakout and retest could lift RON toward the 50-day MA and potentially toward its next major resistance zone near $1.40—a possible 70% rally from where it stands today.
What’s Next for AXS and RON?
Both AXS and RON are sitting at critical technical levels. Their falling wedge patterns suggest a potential trend reversal—but confirmation is key. Traders will be looking for a breakout with strong volume and follow-through.
Of course, broader market sentiment, Bitcoin’s next move, and macroeconomic trends will continue to influence how far these gaming tokens can go. But for now, the charts are starting to look promising.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.