AXS Technical Analysis: Risk Of Falling To $10
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If you look at the trend channel of the cryptocurrency AXS, you can conclude that the price fall is beginning to accelerate. While trading volumes remain small. The only trading week that gave hope to AXS investors - from 9 May. Slightly increased volumes and a large pin down gave buyers a chance to counterattack. Though, this counterattack was not realized. Therefore, if you are looking for where to buy AXS cryptocurrency - you should place limit orders in the range of $10-$11.
Technical Analysis AXS On The Daily Timeframe
In addition to the global initiative, which buyers have lost since November 2021, the local initiative has also been lost. On the daily timeframe you can see that during 11-12 May the range is $19-$19.5. This range proved its importance on 16-17 May, when sellers tried to continue the downward trend. However, having a clear foothold, buyers made no effort to start a new wave of growth.
Trading volumes during 20-25 April were extremely low. And this is at local highs. This level of weakness of buyers allowed sellers to take control of the $19-$19.5 range for the third time. Until buyers regain control of this range - buying AXS cryptocurrency is dangerous. In the case of fixing the price of BTC below the mark of $28,200, you should expect a short position in the AXS cryptocurrency with the first target of $15.
The AXSBTC price Has Not Yet Broken The Critical Level Of 0.00057
Weekly price chart for AXS investors adds a drop of positive for AXS investors. Buyers have not lost control of the main range 0.00057. It was this range which stopped the panic wave of sales and gave buyers a chance to rebound the price to 0.000936. So far, buyers have not realized this chance. If the 0.00057 mark is maintained, buyers can expect a new local growth wave. Though, it is likely to be weaker than the one that took place on 12 May. Therefore, at the moment, buying AXS should only hope for the short term. At least until there are more trades on the market and the weekly candles change to green.
