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AXS / TetherUS

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AXSUSDT trade ideas

AXS/USDT in a Decisive Phase, May Drop by 50% Soon!Much similar to other cryptos, Axie Infinity also witnessed a steep descending trend before the beginning of 2022. The price underwent a magnificent rally in during Q4 2021 and marked highs beyond $166. Woefully, the price has dropped by more than 96% during the bear market which followed immediately after it marked its highs. The AXS price approached the pinnacle of the bearish consolidation and raised high. Presently, the price is undergoing a correction and hence a fresh descending trend may be ignited very soon. As mentioned the AXS price is in a decisive phase. With a breakout above the bearish triangle, the token manifested its strength and an attempt to nullify the bearish impact. However, the fresh plunge manifesting a minor correction has raised many concerns. Two possible scenarios may be framed for the current trade setup, either the price bounces hitting the trend line of the triangle and rise high or else drop and enter the triangle again and undergo a massive drop by testing the lower most support to trigger a rebound. Therefore, the upcoming few hours could be extremely crucial for the AXS/USDT price.
by Coinpedia-Market-Insight
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