- The AXS price is currently trading at $7.47 while seeing a change of -3.34% in 24-hour trading volume.
- AXS price is observing a decline of 1.20% in the last 24 hours.
At present, AXS is attempting to make a bull trend under the 200 and 100 EMA. Since gaining the buyers’ support near $6.00 in late November the price of AXS started trading on a bull trend after breaking out of the bear’s influence. The price may succeed in this attempt to change its trend in favor of bulls and cross all the major key EMA levels.
After taking the support the price of $6.00 AXS price made an extremely bullish rally and gained more than 98% of its value in the overall trend. Though despite the optimism of the bulls in the price action AXS’s price has not been able to sustain above its major resistance level at 200.
AXS Price Can Take a Bearish Correction on The Uptrend
Previously, after taking rejection from the 200 EMA near end of January, the price made a 40% correction. However, despite sellers’ attempts to take control of the trend, bulls persisted and the price of AXS gained support from its previous consolidation point. It started making a positive trend on daily timefrma.
The overall market sentiments are trading near neutral levels at 64 points. The sentiment index is observing a slight decline since the last week when the market was trading at around 55 points, As per the greed and fear index provided by the Alternative(dot)me platform.
A slight impact of sellers is observed in most of the cryptocurrency exchange platforms where they are they are dominating the price action by 50 – 54% according to the Coinglass platform a cryptocurrency exchange platform.
Technical Analysis
AXS is taking resistance from the 100 and its major resistance is near the 200 EMA. Current support levels for the AXS price are around $6.00. The resistance point for AXS is near $9.00 and its major resistance is at $10.00.
The RSI line is moving above the 14 SMA, taking constant resistance from it. The RSI line is currently moving around 34 points, while the 14 SMA is providing resistance at nearly 39 points.
Conclusion
As per the analysis, The price has been taking constant resistance from the 100 EMA for the last few months. As the price trading near the support zone on the trendline, it is presenting a bullish perspective. The AXS price might soon make a bullish one.
Technical levels
Support – $6.00
Resistance – $9.00 and $10.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/05/03/axs-price-analysis-will-the-bulls-rally-forward-in-axs-price/