AXS/USDT Technical Analysis: Consolidation Below Resistance Zone
Price and Trend Overview Current Price: $8.659AXS/USDT is trading above the 200-period moving average (SMA) on the 4-hour chart, indicating a bullish medium-term trend. However, the price is currently consolidating below a key resistance zone between $8.80 and $9.00, showing indecision as buyers and sellers struggle for control. Indicators RSI (Relative Strength Index): The RSI is at 39.26, indicating neutral momentum with no immediate overbought or oversold conditions.MACD (Moving Average Convergence Divergence): The MACD line is slightly below the signal line, confirming mild bearish momentum. However, the narrowing histogram suggests weakening selling pressure.Volume: Trading volume is moderate at 250.195K, reflecting steady market activity but lacking the strength to confirm a breakout. Key Levels Support Zones:$8.00: A critical horizontal support level where buyers have stepped in previously.$6.90: The 200 SMA providing dynamic support.Resistance Zones:$8.80–$9.00: A key resistance zone that has capped recent upward movements. Scenarios Bullish Scenario: If AXS/USDT breaks above $9.00 with increasing volume, it could signal a continuation of the bullish trend toward higher levels near $10.00.Bearish Scenario: A breakdown below $8.00 could lead to further declines toward the $6.90 SMA or lower, especially if accompanied by increasing sell volume.
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