AXS Technical Analysis: Bulls Horrified As AXS Dips Below $30

AXS prices face a horrific bear market resulting in a downfall of 80% in the last six months resulting in a fall under $30 from the heights of $160. Key technical points: AXS prices show an overnight fall of 2.83%. The RSi remains oversold. The 24-hour trading volume of Axie Infinity is $274Million, marking an 8% rise. Past Performance of AXS AXS token price shows an uncontrollable bearish fall starting from the last rejection at the 200-day EMA near the $70 mark refreshing the selling spree. The downfall accounts for deflation of 60% last month and breaks below multiple support levels and all the crucial EMAs. Source-Tradingview AXS Technical Analysis The AXS/USD chart displays a rise in trading volume, periodically fuelling the bearish fall and increasing the threat of reaching $15. Moreover, the breakout of $30 comes with a surge in trading volume, reflecting a bearish attack. The crucial daily EMAs showcase a bearish alignment with the downtrend, gradually gaining momentum while providing dynamic resistance. The RSI slope displays a sideways trend in the oversold zone and a lack of bullish attempt to exit the territory. Hence, with increasing selling pressure, the RSI showcases a solid bear trend in action. The MACD and signal lines show a falling trend in a bearish alignment, diving deeper into the negative territory. Moreover, the increasing intensity of the MACD histograms displays no sign of reversal any time soon. In ...