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AXS Technical Analysis: The Final Growth Target Is $86

source-logo  cryptoknowmics.com 04 April 2022 10:07, UTC

Everyone's holiday looks different. For example, for AXS cryptocurrency investors, seeing the weekly chart is currently a public holiday. Buyers managed to change the market situation and break up the trend line of sellers. This trend line kept the AXS market in suspense from November 2021. Buyers were able to test the first target we expected - the $70 mark range. It was this range that stopped the local counterattack of buyers at the end of January 2022 and did not allow to develop a new growth wave. The situation on the market was changed by one weekly candle from 22 March. AXS https://www.tradingview.com/x/o9uPyZBq/ During this trading week, buyers raised the AXS price by 40%. They managed to do it without much effort. This can be seen by the trading volumes. The trading week of 28 March is not as effective as the previous ones. The weekly candle did not close at the range of $70. Therefore, the chances for buyers to continue to grow to the first target of $86 are still low. In the event of a slowdown in the AXS price near the $70 mark for several weeks, investors will have a chance to buy this cryptocurrency near the $49 mark. Such a purchase will be quite safe, given the risks and likely prospects for AXS growth. But, so far such a scenario is an alternative for us.

Technical Analysis Of AXS On The Daily Timeframe

TradingView Chart https://www.tradingview.com/x/q2RPzYh2/ If on the weekly timeframe the special dynamics of the AXS price is not noticeable, then the daily timeframe is full of intrigue. For the first time, trading volumes have increased since 30 January and are not disappearing. The struggle of both buyers and sellers is felt near local liquidity zones. Second, volatility increased as prices rose, due to weak sellers in this price range. At the moment, we see that the daily candle from 2 April on high volumes did not close above $70. This signal increases the risk of local AXS reversal to $58. Such a local correction will not harm the newly created growth trend. On the contrary, buyers will be tested for strength. A successful attempt to test the $58 mark will increase the number of people willing to buy cryptocurrency. This will give impetus to a new growth impulse with the final target of $87. At this point, the growth wave from 14 March may be completed. The prospect of continued AXS growth will depend on the correction of this growth wave.

The AXSBTC Price Is In The Test Range

TradingView Chart https://www.tradingview.com/x/rvE0RYDc/ Analyzing the AXSBTC price movement on the weekly timeframe, it is seen that the dynamics of growth fell significantly near the range of 0.0017. This range has created problems for buyers and the AXSBTC trading history. It was in the period from July to September 2021 that buyers could not confidently continue the growth wave without stopping prices in this range. Therefore, the uncertain breakdown of the red trend line of sellers from October 2021 is not a strong argument for us to complete the AXSBTC correction. Only after buyers take control of the range of 0.0017 we can confidently buy cryptocurrency with the first target of 0.00285.

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