Date: Saturday, March 15, 2025

The cryptocurrency market is showing signs of stabilization following Bitcoin's recent recovery from a dip near $76,000, with the asset now trading around $84,000. This positive shift is providing a much-needed boost to altcoins, especially gaming tokens like Axie Infinity ($AXS ) and Ronin ($RONIN ), both of which have experienced substantial declines over the past 90 days.

Both tokens are now approaching critical resistance levels within their respective falling wedge patterns, with traders closely monitoring for a potential breakout. A successful breakout from these formations could signal the long-awaited recovery for these assets.

Axie Infinity (AXS)

Axie Infinity (AXS) has been trading within a falling wedge pattern—a classic technical formation that often signals a bullish reversal—since it faced rejection at $10.26 in early December. Over the past three months, the token has experienced a sharp decline, falling by more than 75% to a low of $2.51 on March 11.

However, signs of a reversal are emerging. AXS has recently recovered to $3.24 and is approaching the upper resistance line of the falling wedge. Should the token manage to break through this resistance and confirm the move with a retest, the next target could be around $4.18, aligning with the 50-day moving average (MA). If bullish momentum continues, AXS could experience a stronger rally, potentially reaching the $5.66 range near the 100-day MA, which would represent a 72% increase from current levels.

Ronin (RON)

Ronin (RON) has followed a similar trajectory. After peaking at $2.73 in mid-December, RON has experienced a decline of over 69%, finding support at $0.66 on March 11. Currently trading at $0.83, RON is nearing a key resistance level within its falling wedge pattern.

A successful breakout above this resistance, followed by a retest, could push RON toward the 50-day MA and potentially its next major resistance zone near $1.40. This could result in a 70% rally from its current price.

Outlook for AXS and RON

Both AXS and RON are approaching critical technical levels that could signal a potential trend reversal. Their respective falling wedge patterns suggest that a breakout could be on the horizon, but confirmation is essential. Traders will be watching for a breakout with strong volume and sustained follow-through to validate the bullish thesis.

In addition to the technical factors, broader market sentiment, Bitcoin’s next moves, and macroeconomic trends will continue to influence the direction of these gaming tokens. For now, however, the charts suggest that both AXS and RON may be on the cusp of a recovery, should the anticipated breakouts materialize.

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