AXS Technical Analysis: Double Bottom Aims Trend Reversal

The AXS coin price forms a double bottom pattern near the $50 support zone and the shows increased chances of a bullish breakout of the falling channel. Axie Infinity is a blockchain-based trading and fighting game that is operated and owned by the players. Inspired by popular video games such as Pokemon as well as Tamagotchi, Axie Infinity allows players to breed, collect fight, raise token-based animals, referred to as Axies. Let us move ahead to read about AXS technical analysis. Past Performance of AXS The AXS coin price action shows a falling channel as the price continues to form a wave of lower lows in the daily chart. The downfall halts near the support zone at $50, from where it rises 11% in the past 24 hours. Thus, starting a bullish reversal within the descending triangle. AXS/USD Daily Chart AXS Technical Analysis The AXS coin price action shows a double bottom pattern near the support zone at $50 in the daily chart. The recently made bullish candle teases a bullish breakout of the pattern. The post-breakout rally can breach the resistance trendline if the buying pressure sustains. The crucial Exponential Moving averages show a falling trend as the price trades below all of it. After the recent death cross, the falling 100-day EMA might shortly give a bearish crossover with the 200-day average. The RSI indicator shows a sudden rise in the slope as it escapes the oversold zone and surpasses the 14-day average. The s...