#ArbitrageTradingStrategy analyze

## Technical Analysis of AXS/USDT Chart

### Chart Structure

- **Timeframe:** 2-hour (2h) chart

- **Asset:** AXS/USDT Perpetual Contract (Binance)

### Key Observations

#### 1. Trendlines

- **Downtrend Line (Black):** The chart displays a major descending trendline, which has acted as resistance for a significant period.

- **Support Line (Green):** A horizontal/ascending support line is visible, indicating a price floor where buyers have previously stepped in.

- **Intermediate Resistance (Red):** A shorter-term resistance line, forming a wedge or triangle pattern with the support.

#### 2. Price Action

- The price recently broke above the long-term descending trendline, which is a bullish technical signal.

- After the breakout, the price retraced and is now retesting the breakout level and the green support line.

- The price is currently consolidating near the intersection of the support and the former downtrend line.

#### 3. Pattern Implications

- The pattern resembles a descending triangle or wedge, which, when broken to the upside, often signals a potential trend reversal or continuation of a bullish move.

- The drawn arrow suggests a projected bullish move, indicating expectations of a rally toward the $2.50–$2.60 area.

### Technical Outlook

- **Bullish Scenario:** If the support holds and the breakout is confirmed, the price could rally toward the next resistance zone around $2.50–$2.60.

- **Bearish Scenario:** If the price fails to hold above the green support line, a further decline toward previous lows is possible.

### Summary Table

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