$AXS USDT is showing clear rejection from the recent resistance zone around 1.17–1.18.
Price failed to hold momentum and is starting to lose structure on lower timeframes.
Sellers are stepping in aggressively every time price attempts a bounce.
This looks more like distribution than accumulation right now.
Short-term bias is turning bearish unless 1.18 is reclaimed with strong volume.
Until then, every rally is likely getting sold into.
Entry Zone: 1.165 – 1.180 (rejection area)
Confirmation: breakdown below 1.133
Target zones: 1.076 → 1.020
Conviction trade setup favors downside continuation unless structure flips.