AXS Technical Analysis: There Is A Dangerous Situation

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 t...