menuIcon
$ 87,173.4
BTC
$ 87,173.4
-0.57 %
$ 2,013.88
ETH
$ 2,013.88
-2.81 %
$ 0.7338
ADA
$ 0.7338
-2.12 %
$ 621.05
BNB
$ 621.05
-1.50 %
$ 137.87
SOL
$ 137.87
-4.38 %
Peter Oleshchuk
Mar 11, 2022
by Peter Oleshchuk

AXS Technical Analysis: There Is A Dangerous Situation

AXS

Table of contents

  1.  Technical Analysis Of AXS On The Daily Timeframe
  2. The AXSBTC Price Is Corrected From October 2021
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.

AXS

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

TradingView Chart

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.

Follow us on: News
AXS technical analysis AXS price AXS market AXSBTC AXS cryptocurrency
AXS Technical Analysis: There Is A Dangerous Situation
Peter Oleshchuk
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

Top Picks