AXS / TetherUSLong
Axie Infinity (AXS)
🎯 Introduction
AXS (Axie Infinity Shards) is the native token of the Axie Infinity ecosystem, a popular blockchain-based game operating on the "Play-to-Earn" model. Players can earn AXS tokens by breeding, battling, and trading digital creatures known as "Axies." This token is also used in governance mechanisms, staking, and in-game transactions. The growth in AXS’s value is tied to the ongoing development of the game and its wider adoption within the cryptocurrency world.
📊 AXS Technical Analysis
Current Status:
On the weekly timeframe, AXS is in a long-term range-bound zone:
📈 Range High: Red zone (11.186 - 12.605)
📉 Range Low: Gray zone (3.840 - 4.414)
Key Support and Resistance Zones:
Daily Support: Purple zone (5.581 - 5.932)
This zone has acted as a key support level. If lost, the price is likely to fall toward the lower range (gray zone).
Daily Resistance: Yellow zone (6.910 - 7.328)
Breaking through this level could trigger a price move towards the range high (red zone).
Upcoming Scenarios:
🟢 Bullish Scenario:
If the purple support zone holds and the yellow resistance is broken:
Move towards the range high (red zone).
A breakout above the red zone will lead to price targets based on Fibonacci levels:
🎯 TP1: 20.007 - 24.056
🎯 TP2: 41.929 - 48.315
🎯 TP3: 67.896 - 77.108
Important Note: At each of these targets, profit-taking 💵 is strongly advised.
🔴 Bearish Scenario:
If the purple support zone is lost, the price may drop towards the lower range (gray zone).
🎯 Suggested Entry Points:
Break above the daily yellow resistance with a stop loss below the gray zone.
Break above the red resistance with a stop loss below the purple zone.
Indicators and Volume:
RSI:
Crossing above the midpoint of the RSI may indicate a bullish move.
Entering the Overbought region could lead to sharp upward movements 🚀.
📊 Volume Analysis:
Increased volume during resistance breaks is crucial; otherwise, there’s a higher risk of false breakouts.
📌 Summary:
AXS is currently at a critical level. Price behavior in relation to the identified support and resistance zones will determine the future trend. Effective risk management through stop-loss and close monitoring of trading volume are key to success in trading this coin. 💡
Recommendation: Always consider the overall market conditions and any related news regarding the Axie Infinity project before making trading decisions.
AXS (Axie Infinity Shards) is the native token of the Axie Infinity ecosystem, a popular blockchain-based game operating on the "Play-to-Earn" model. Players can earn AXS tokens by breeding, battling, and trading digital creatures known as "Axies." This token is also used in governance mechanisms, staking, and in-game transactions. The growth in AXS’s value is tied to the ongoing development of the game and its wider adoption within the cryptocurrency world.
📊 AXS Technical Analysis
Current Status:
On the weekly timeframe, AXS is in a long-term range-bound zone:
📈 Range High: Red zone (11.186 - 12.605)
📉 Range Low: Gray zone (3.840 - 4.414)
Key Support and Resistance Zones:
Daily Support: Purple zone (5.581 - 5.932)
This zone has acted as a key support level. If lost, the price is likely to fall toward the lower range (gray zone).
Daily Resistance: Yellow zone (6.910 - 7.328)
Breaking through this level could trigger a price move towards the range high (red zone).
Upcoming Scenarios:
🟢 Bullish Scenario:
If the purple support zone holds and the yellow resistance is broken:
Move towards the range high (red zone).
A breakout above the red zone will lead to price targets based on Fibonacci levels:
🎯 TP1: 20.007 - 24.056
🎯 TP2: 41.929 - 48.315
🎯 TP3: 67.896 - 77.108
Important Note: At each of these targets, profit-taking 💵 is strongly advised.
🔴 Bearish Scenario:
If the purple support zone is lost, the price may drop towards the lower range (gray zone).
🎯 Suggested Entry Points:
Break above the daily yellow resistance with a stop loss below the gray zone.
Break above the red resistance with a stop loss below the purple zone.
Indicators and Volume:
RSI:
Crossing above the midpoint of the RSI may indicate a bullish move.
Entering the Overbought region could lead to sharp upward movements 🚀.
📊 Volume Analysis:
Increased volume during resistance breaks is crucial; otherwise, there’s a higher risk of false breakouts.
📌 Summary:
AXS is currently at a critical level. Price behavior in relation to the identified support and resistance zones will determine the future trend. Effective risk management through stop-loss and close monitoring of trading volume are key to success in trading this coin. 💡
Recommendation: Always consider the overall market conditions and any related news regarding the Axie Infinity project before making trading decisions.
Disclaimer
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