#AXS
📌 Formation:
A classic Rising Wedge formation has formed on the chart.
This formation is generally considered a bearish signal, as the price is moving upward within a narrowing rising channel and momentum is weakening.
🎯 Target Price:
DirectionTarget Price (USDT)Description🔽 Down2,168 USDTTarget as much as the wedge height
📊 Technical Observations:
Upper Limit of the Formation: Resistance has formed around 2,900.
Lower Limit of the Formation: The rising support trend is about to be broken.
Current price: 2,863 USDT
The formation has been unable to break upward without volume support and currently shows weakening signals.
🛡 Support – Resistance Levels:
TypeLevel (USDT)DescriptionResistance2,900Upper wedge limitSupport2,600Horizontal level within the wedgeMain Support2,168Target area (potential drop)
🔍 Possible Scenarios:
ScenarioConditionTarget📉 Continuation of DeclineIf the lower wedge trend is broken2,168 USDT🔁 Sideways / WaitingConsolidation may occur between 2,800–2,600Uncertain until direction is determined❗ Formation BreakdownStrong close above 2,900Formation becomes invalid, upward movement may continue
✅ Summary:
TitleInformationMain FormationRising WedgePossible DirectionDownTarget2,168 USDTSupports2,600 → 2,168Risk WarningFormations do not work 100%, confirmation is required