<p>尽管更广泛的加密市场仍然承压，但游戏代币相对独立，表现出强劲的涨幅。</p>
<p>该行业记录了大约 40% 的月加权平均增长，AXS 是表现最好的代币之一。</p>
<p>Axie Infinity 的 [AXS] 近期反弹抹去了自 2025 年 9 月 12 日以来的损失，使许多持有者回到了盈亏平衡点。然而，动量指标表明，涨势可能接近疲软，增加了回调风险。</p>
<h2><strong>投资者定位引发警惕</strong></h2>
<p>在反弹期间，AXS 的投资者定位变得越来越激进。这一变化引发了对上涨趋势持续性的质疑。</p>
<p>截至发稿时，相对强弱指数（RSI）回升至 70 以上，使 AXS 处于超买区域。这种情况在历史上通常预示着短期价格顶部，而不是持续突破。</p>
<p>TradingView 图表显示，RSI 在价格加速时保持高位。这种背离增加了近期均值回归的概率。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/AXSUSDT_2026-01-22_10-30-39-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="2560" height="1473" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/AXSUSDT_2026-01-22_10-30-39-scaled.png"/></p>
<p>来源：TradingView</p>
<p>尽管如此，当前的下行风险似乎受到限制。累积/分配指标略微下滑，但仍然保持在积极区域。</p>
<p>这表明卖压增加，但更广泛的市场结构仍然支持。任何回调可能仍将是修正性的，除非累积进一步减弱。</p>
<h2><strong>现货投资者撤退</strong></h2>
<p>现货市场活动提供了情绪变化的最清晰信号之一，资本开始退出市场。</p>
<p>交易所净流量显示，现货交易者在过去 24 小时内出售了大约 91,000 美元的 AXS。</p>
<p>这标志着与近期反弹期间观察到的稳定买入之间的明显转变。现货参与者通常提供结构性支持，他们的撤退尤为显著。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.28.16-AM-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="2560" height="586" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.28.16-AM-scaled.png"/></p>
<p>来源：CoinGlass</p>
<p>此外，交易活动急剧放缓。CoinGlass 数据显示，交易量下降 21%，降至约 20 亿美元，减少超过 4 亿美元。</p>
<p>当价格在交易量下降的情况下上涨时，通常会发出动量减弱的信号。历史上，这种情况通常预示着整合或修正性价格走势。</p>
<h2><strong>衍生品市场信号背离</strong></h2>
<p>衍生品数据呈现出混合的局面。买卖比率显示，永续期货市场仍然以看涨情绪为主，买单数量超过卖单。</p>
<p>然而，资金数据却讲述了不同的故事。OI 加权资金费率明显转为负值，表明空头头寸超过多头。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.27.50-AM-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="2560" height="876" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.27.50-AM-scaled.png"/></p>
<p>来源：CoinGlass</p>
<p>CoinGlass 数据显示，该指标在发稿时为-0.1286%。这意味着看跌交易者支付资金以维持头寸。</p>
<p>如果负资金持续存在，同时现货需求减弱，下行压力可能会加大。这种一致性将增加 AXS 进入更深修正阶段的风险。</p>
<hr/>
<h2><strong>最后思考</strong></h2>
<ul>
<li><em>Axie Infinity (AXS) 抹去了 9 月后的损失，游戏代币表现优于大盘，将价格推回关键阻力位。</em></li>
<li><em>超买的 RSI、减弱的现货需求和负的 OI 加权资金费率表明，动量可能在短期内减弱。</em></li>
</ul>
<hr/>

<p>Axie Infinity (AXS) 已经恢复了九月份的损失，受益于游戏代币领域的强劲表现，平均增长了 40%。然而，动量指标显示出潜在的疲软，RSI 指标表明超买状态。现货市场活动显示情绪的转变，AXS 的销售额为 91,000 美元，交易量下降了 21%。尽管衍生品市场仍然保持看涨情绪，但负的资金费率表明空头头寸的增加。总体而言，尽管近期有所上涨，AXS 仍面临修正阶段的风险</p>

<p>While the broader crypto market remained under pressure, gaming tokens stayed relatively insulated and posted strong gains.</p>
<div class="lb-trans"><p>尽管更广泛的加密市场仍然承压，但游戏代币相对独立，表现出强劲的涨幅。</p>
</div><p>The sector recorded a monthly weighted average increase of roughly 40%, with AXS among the top performers.</p>
<div class="lb-trans"><p>该行业记录了大约 40% 的月加权平均增长，AXS 是表现最好的代币之一。</p>
</div><p>Axie Infinity’s [AXS] recent rally erased losses accumulated since the 12th of September 2025, pushing many holders back to break-even. However, momentum indicators suggested the advance may be nearing exhaustion, raising pullback risk.</p>
<div class="lb-trans"><p>Axie Infinity 的 [AXS] 近期反弹抹去了自 2025 年 9 月 12 日以来的损失，使许多持有者回到了盈亏平衡点。然而，动量指标表明，涨势可能接近疲软，增加了回调风险。</p>
</div><h2><strong>Investor positioning raises caution</strong></h2>
<div class="lb-trans"><h2><strong>投资者定位引发警惕</strong></h2>
</div><p>Investor positioning in AXS grew increasingly aggressive during the rally. That shift raised questions about the uptrend’s durability.</p>
<div class="lb-trans"><p>在反弹期间，AXS 的投资者定位变得越来越激进。这一变化引发了对上涨趋势持续性的质疑。</p>
</div><p>At press time, the Relative Strength Index (RSI) moved back above 70, placing AXS in overbought territory. Such conditions historically preceded short-term price tops rather than sustained breakouts.</p>
<div class="lb-trans"><p>截至发稿时，相对强弱指数（RSI）回升至 70 以上，使 AXS 处于超买区域。这种情况在历史上通常预示着短期价格顶部，而不是持续突破。</p>
</div><p>The TradingView chart showed RSI remained elevated as price accelerated. That divergence increased the probability of near-term mean reversion.</p>
<div class="lb-trans"><p>TradingView 图表显示，RSI 在价格加速时保持高位。这种背离增加了近期均值回归的概率。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/AXSUSDT_2026-01-22_10-30-39-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/AXSUSDT_2026-01-22_10-30-39-scaled.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>That said, downside risk appeared contained for now. The Accumulation/Distribution indicator dipped modestly but stayed firmly positive.</p>
<div class="lb-trans"><p>尽管如此，当前的下行风险似乎受到限制。累积/分配指标略微下滑，但仍然保持在积极区域。</p>
</div><p>This suggested selling pressure increased, yet broader market structure remained supportive. Any pullback would likely remain corrective unless accumulation weakened further.</p>
<div class="lb-trans"><p>这表明卖压增加，但更广泛的市场结构仍然支持。任何回调可能仍将是修正性的，除非累积进一步减弱。</p>
</div><h2><strong>Spot investors pull back</strong></h2>
<div class="lb-trans"><h2><strong>现货投资者撤退</strong></h2>
</div><p>Spot market activity offered one of the clearest signals of shifting sentiment, with capital beginning to exit the market.</p>
<div class="lb-trans"><p>现货市场活动提供了情绪变化的最清晰信号之一，资本开始退出市场。</p>
</div><p>Exchange Netflows showed Spot traders sold roughly $91,000 worth of AXS over the past 24 hours.</p>
<div class="lb-trans"><p>交易所净流量显示，现货交易者在过去 24 小时内出售了大约 91,000 美元的 AXS。</p>
</div><p>That marked a clear shift from the steady buying observed during the recent advance. Spot participants often provide structural support, making their retreat notable.</p>
<div class="lb-trans"><p>这标志着与近期反弹期间观察到的稳定买入之间的明显转变。现货参与者通常提供结构性支持，他们的撤退尤为显著。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.28.16-AM-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.28.16-AM-scaled.png"/></p>
<p>Source: CoinGlass</p>
<div class="lb-trans"><p>来源：CoinGlass</p>
</div><p>On top of that, trading activity slowed sharply. CoinGlass data showed volume fell 21% to about $2 billion, a decline exceeding $400 million.</p>
<div class="lb-trans"><p>此外，交易活动急剧放缓。CoinGlass 数据显示，交易量下降 21%，降至约 20 亿美元，减少超过 4 亿美元。</p>
</div><p>When price advances on falling volume, it often signals weakening momentum. Historically, such conditions have preceded either consolidation or corrective price moves.</p>
<div class="lb-trans"><p>当价格在交易量下降的情况下上涨时，通常会发出动量减弱的信号。历史上，这种情况通常预示着整合或修正性价格走势。</p>
</div><h2><strong>Derivatives market signals divergence</strong></h2>
<div class="lb-trans"><h2><strong>衍生品市场信号背离</strong></h2>
</div><p>Derivatives data presented a mixed picture. The Taker Buy/Sell Ratio showed that bullish sentiment still dominated in the perpetual Futures market, with taker buy orders outweighing sell orders.</p>
<div class="lb-trans"><p>衍生品数据呈现出混合的局面。买卖比率显示，永续期货市场仍然以看涨情绪为主，买单数量超过卖单。</p>
</div><p>However, funding data told a different story. The OI-Weighted Funding Rate turned decisively negative, signaling that short positions outweighed longs.</p>
<div class="lb-trans"><p>然而，资金数据却讲述了不同的故事。OI 加权资金费率明显转为负值，表明空头头寸超过多头。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.27.50-AM-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-at-10.27.50-AM-scaled.png"/></p>
<p>Source: CoinGlass</p>
<div class="lb-trans"><p>来源：CoinGlass</p>
</div><p>CoinGlass data showed the metric printed -0.1286% at press time. That meant bearish traders paid funding to maintain exposure.</p>
<div class="lb-trans"><p>CoinGlass 数据显示，该指标在发稿时为-0.1286%。这意味着看跌交易者支付资金以维持头寸。</p>
</div><p>If negative funding persisted alongside softening spot demand, downside pressure could build. That alignment would increase the risk of a deeper corrective phase for AXS.</p>
<div class="lb-trans"><p>如果负资金持续存在，同时现货需求减弱，下行压力可能会加大。这种一致性将增加 AXS 进入更深修正阶段的风险。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最后思考</strong></h2>
</div><ul>
<li><em>Axie Infinity (AXS) erased post-September losses as gaming tokens outperformed, lifting the price back toward key resistance.</em></li>
<li><em>Overbought RSI, weakening spot demand, and negative OI-Weighted Funding Rate suggest momentum may fade near-term.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>Axie Infinity (AXS) 抹去了 9 月后的损失，游戏代币表现优于大盘，将价格推回关键阻力位。</em></li>
<li><em>超买的 RSI、减弱的现货需求和负的 OI 加权资金费率表明，动量可能在短期内减弱。</em></li>
</ul>
</div><hr/>
<div class="lb-trans"><hr/>
</div>

Axie Infinity 已经抹平了九月份的损失，但 AXS 价格仍面临这一威胁