Affirm Stock Stuck Below $54 After Death Cross - More Downside Ahead?

Affirm Holdings Inc (NASDAQ:AFRM) stock is flashing fresh warning signs on the chart, with the buy-now, pay-later leader struggling to reclaim a key technical level after confirming a bearish Death Cross.

Chart created using Benzinga Pro

The signal, widely watched by institutional traders, suggests momentum has shifted decisively in favor of sellers — at least for now.

Shares are currently trading near $52, below the critical $54.32 level, which marks the short-term moving average and now acts as immediate resistance. After providing support during earlier consolidation phases, this level has become a ceiling, reinforcing the bearish technical structure.

$54 Resistance Becomes The Line In The Sand

The failure to reclaim $54 is significant. Affirm's stock attempted to stabilize after a steep selloff from its January highs near $83, but each bounce has been capped below this level. This pattern signals weakening buyer conviction and confirms that sellers remain in control of the near-term trend.

Above that, the next major resistance sits near $61, aligning with the declining 20-day moving average. Until shares can break back above these levels, upside attempts may continue to face pressure.

Meanwhile, the Death Cross — formed when the 50-day moving average fell below the 200-day moving average — confirms a broader shift toward bearish momentum. Historically, this signal often marks extended consolidation phases or deeper corrections rather than immediate recoveries.

$50 Support Now In Focus

On the downside, the $50 level has emerged as the most important near-term support zone. A decisive break below this psychological level could open the door toward the lower Bollinger Band near $47, which represents the next major technical support area.

Momentum indicators reinforce the fragile setup. The Relative Strength Index (RSI) is hovering near 30, placing the stock close to oversold territory. While this could allow for short-term relief rallies, sustained upside would likely require a reclaim of the $54 level to shift momentum back in favor of bulls.

Until then, Affirm remains technically vulnerable, with the Death Cross and repeated rejection below resistance suggesting the path of least resistance may still be lower.

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