As the daily chart of the token suggests, AXS formed a higher low, which is the first indicator of a trend reversal. Earlier, AXS bottomed out at around $12.4 thanks to the historical support level that caused a bounce to $17.
The most recent bullish move made by AXS is the successful breakout of the 50-day EMA resistance level, which might act as a trampoline for the asset and launch it towards the next resistance on the chart at around $35, which is almost a 100% increase from the current value of theIn contrast to NFTs and DeFi, GameFi took the least damage during the bear market as inflows to the industry remained at a steady level in 2022, allowing numerous projects to remain afloat.