$AXS has been in a clear long-term downtrend, marked by a sequence of lower highs and lower lows since the major top. Price recently formed a capitulation move followed by a sharp rebound, indicating a potential short-term trend change, but the macro structure is still bearish unless key levels are reclaimed.
Key Zones (Supply & Demand) 🔴 Major Resistance Zone (Supply) ~2.05 – 2.20 USDT This zone previously acted as strong support, which was decisively broken.
After the breakdown, price accelerated downward → this confirms it as a high-probability resistance.
The current rally is testing this zone from below (support → resistance flip).
👉 Expect: Strong selling pressure Possible rejection or consolidation here 🟢 Major Support Zone (Demand) ~0.80 – 0.90 USDT This is the capitulation low, where aggressive buyers stepped in.
Long lower wicks and a strong impulsive bounce indicate institutional or large-player accumulation.