32 C
New York

AXS Technical Analysis: There Is A Dangerous Situation

Date:

Axie Infinity (AXS) Technical Analysis: A New Growth Wave or Completion of the Old One?

The degree of intrigue in the AXS market did not fall during the previous trading month. The AXS price is still at a critical point, from which it can both fall sharply and grow sharply. Sellers managed to push the AXS price out of the trend growth channel. However, all this happened on low volumes and now the price is very close to the bottom trend line of the channel. Much more important is the fact that buyers keep the $47 range. But, looking at the weekly timeframe, there is no certainty that buyers have enough strength for a long siege. https://www.tradingview.com/x/mARsVFiZ/ Since the beginning of February, sellers have managed to lower the price without much effort. So the AXS price fell very slowly, but what will happen when sellers add aggression? The positive scenario for the AXS market at the moment is the continuation of local consolidation in the range of $47-$68. This scenario will allow buyers to gain time and gain the right positions for a new growth wave with a target of $112. In our opinion, this is the main interest of sellers in selling this cryptocurrency. Though, if the $47 mark does not stand during March, at best the lazy AXS fall will continue with the final target of $20. It is worth noting that AXS has grown without corrections and in fact, strong buyers’ support is as high as $11. Therefore, when investing in this cryptocurrency, it is important to be prepared to record the allowable loss in order to freeze your capital for a long time.  Technical Analysis Of AXS On The Daily Timeframe https://www.tradingview.com/x/RGlZdcun/ Analyzing the movement of the AXS price on the daily timeframe, you can see a systematic decrease in volatility. The price has reached triangular consolidation and is locally preparing for the test of the upper trend line of the triangle. If buyers are unable to break the $58 mark during this local attack, sellers are more likely to break the consolidation triangle-down. But, take a closer look – now the AXS price is in the perfect place for a short-term trade with a minimum target of 20%. The only thing I can expect is a false break of $47 on high volumes. If in the next few days sellers try to attack $47 and the daily candle closes with a pin down on high volumes – this is the final signal to buy this cryptocurrency. The AXSBTC Price Is Corrected From October 2021 After a triumphant growth wave, AXSBTC buyers have been on vacation for six months. However, so far the passive defense of buyers keeps the main mark 0.0012. The AXSBTC price has been traded near this end since the end of January. This strategically important mark separates the fall in the AXSBTC price by 30%. Therefore, the trading week on 7 March will be crucial for the formation of a new medium-term AXS price movement. If the weekly habit closes above 0.0012 – we will expect a rebound of the AXSBTC price to 0.00165.

The post AXS Technical Analysis: There Is A Dangerous Situation appeared first on Cryptoknowmics-Crypto News and Media Platform.

Related articles

spot_img

Recent articles

spot_img