AXS Technical Analysis: The Trouble Is Just Beginning

The AXS cryptocurrency is a clear example of the fact that popularity and power are relative and not stable at all. AXS impressive past doesn’t matter at all now. Sellers without any problems and efforts steadily lower the price and buyers do not make any attempts to change the trend. Recently, during the weekly candle of 25 April, sellers managed to break the main liquidity zone of buyers, which restrained an alternative scenario of global AXS fall. This is in the $46 range. In this range, buyers kept the price from September 2021. The loss of control of buyers over the range of $46indicates the likely beginning of a global correction in the AXS market. Source: https://www.tradingview.com/x/QOTfvsZx/ The final target of this correction is around $11. At the moment, such a forecast looks quite scary and unrealistic. However, it is worth remembering that only a month ago the AXS price was about $73, and at the time of writing is $30. The main problem with this cryptocurrency is that there were no zones for accumulating positions and consolidating buyers on the way to the historical high of $155. The AXS price has long been growing without much volume. Therefore, the fall can be identically aggressive and lightning-fast. Technical Analysis Of AXS On The Daily Timeframe Source: https://www.tradingview.com/x/jG8DOkVT/ Analyzing the movement of the AXS price on the daily timeframe, you can see that the price is moving strictly in t...