$AXS has experienced a slight decline of 1.565% in the past 24 hours, currently trading between 2.308 and 2.194.
The Bollinger Bands indicate consolidation, with the price fluctuating near the lower band at 2.2117.
Despite this downturn, the broader market trend remains an uptrend, suggesting underlying bullish sentiment.
Support at 2.194 presents a critical level, while resistance at 2.29 could act as a barrier for upward movement.
Macroeconomic factors like inflation data and potential regulatory news could influence trader sentiment, but Bitcoin's influence remains unclear.
Given the current volatility, traders may benefit from a short-term approach until clearer signals emerge.
The key takeaway is that while AXS faces some resistance, the overall market context supports potential recovery in the near term.
