Axie Infinity (AXS) is currently priced at $2.03, experiencing a 24-hour decline of approximately 2.96%. The daily trading range has been relatively narrow, with a high of $2.12 and a low of $1.94, indicating limited volatility within the past day.

The volume stands at around $36.36 million, accounting for 10.99% of the market cap, which suggests a moderate level of trading activity. However, the declining price over the past week (-11.45%) and month (-30.83%) indicates bearish sentiment among investors, as reflected in the low Relative Strength Index (RSI) of 38 over the past seven days.

Short-term moving averages are also bearish, with the 8 SMA at $2.03 showing a slight decline of 0.04%, and the 13 SMA at $2.05 down 1.01%. The longer-term moving averages reflect a more significant downward trend, particularly the 144 SMA at $2.23, which is down 9.07%, suggesting sustained selling pressure.

Given the all-time high of $164.90 reached in November 2021, current levels represent a severe retracement, highlighting a significant loss of market confidence. The combination of declining price momentum, low RSI readings, and negative price changes over various time frames supports a bearish outlook for AXS.

In conclusion, based on the technical analysis and current market conditions, a Sell rating is warranted. The persistent downward trend and lack of bullish indicators suggest that AXS may continue to face downward pressure in the near term.