Axie Infinity (AXS) is currently priced at $2.12, reflecting a slight decline of 2.42% over the past 24 hours. The price has fluctuated within a daily range of $2.11 to $2.19, indicating low volatility as evidenced by the 24-hour change and a daily range of just 0.08%.

Trading volume stands at approximately $23 million, which translates to a volume-to-market cap ratio of 6.57%. This suggests moderate trading activity, which may indicate a lack of strong buying or selling pressure at this price level.

The short-term moving averages present a bearish outlook, with the 8 SMA at $2.12 down 0.16%, and the 21 SMA reflecting a more significant decline at $2.15, down 1.33%. The longer-term 144 SMA at $2.20 is down 3.85%, suggesting a downward trend in the asset's price over the last few weeks.

The 1-hour RSI is at 30, indicating that AXS is nearing oversold conditions, while the 7-day RSI at 49 suggests the asset is neutral in the medium term. However, both the 7-day and 14-day price changes reveal significant downward movement of over 6%, highlighting a sustained bearish trend over the past two weeks.

AXS remains far below its all-time high of $164.90, achieved in November 2021, which underscores the asset's long-term struggles to regain investor confidence. Given the current technical indicators, including bearish moving averages and the recent price trend, the outlook remains cautious.

Based on this analysis, I recommend a Hold rating for AXS. The asset shows potential for short-term recovery given its oversold conditions, but significant resistance at higher moving averages suggests waiting for clearer bullish signals before making any buying decisions.