2.5x Sell Volume Spike on $AXTI Distribution or Just a Shakeout?
$AXTI has printed a significant 2.5x sell volume spike, signaling aggressive selling pressure and raising the probability of further downside. As long as price remains below the 50.62–53.75 resistance zone, bears are likely to stay in control.
Trade Idea: Watch for a retracement into the 50.17–50.62 area. If a bearish pin bar or bearish engulfing pattern forms on the 5m or 15m chart, it could provide a high-probability short entry. Initial target sits at 48.03, with potential continuation toward 47.30 if bearish momentum accelerates. Keep your stop-loss above the recent swing high or the confirmation candle.
A strong breakout above 50.62 supported by high buying volume would invalidate the bearish outlook and could open the door for a recovery toward 52.90 and 53.75.
#Crypto #CryptoTrading #TechnicalAnalysis #Altcoins #Binance $AXTI
$AXTI has printed a significant 2.5x sell volume spike, signaling aggressive selling pressure and raising the probability of further downside. As long as price remains below the 50.62–53.75 resistance zone, bears are likely to stay in control.
Trade Idea: Watch for a retracement into the 50.17–50.62 area. If a bearish pin bar or bearish engulfing pattern forms on the 5m or 15m chart, it could provide a high-probability short entry. Initial target sits at 48.03, with potential continuation toward 47.30 if bearish momentum accelerates. Keep your stop-loss above the recent swing high or the confirmation candle.
A strong breakout above 50.62 supported by high buying volume would invalidate the bearish outlook and could open the door for a recovery toward 52.90 and 53.75.
#Crypto #CryptoTrading #TechnicalAnalysis #Altcoins #Binance $AXTI