$AXS Analysis: Is the Dip Over? Critical Support Found at $2.60 📉➡️🚀
Axie Infinity (
$AXS ) has seen a sharp correction after hitting a local high of $2.945, currently trading around $2.66. Is the selling pressure over, or is there more downside? Let’s dive into the 15m Technical Analysis. 👇
📊 Key Technical Indicators:
MA99 Dynamic Support: The 99 Moving Average (Purple Line) is acting as a strong floor around $2.61. The price briefly dipped below it but quickly wicked back up, signaling that bulls are defending this level.
Rejection of Lower Prices: Multiple candles show long lower wicks in the $2.55 – $2.60 zone. This indicates strong institutional demand and "buying the dip" behavior at this level.
Decreasing Bear Momentum: The selling volume is drying up, and the MACD histogram suggests the bearish momentum is exhausted.
🎯 The Trade Setup (Intraday):
The chart suggests a potential Reversal/Bounce play as long as the MA99 support holds.
🟢 Buy Zone: $2.60 - $2.66
🎯 Target 1: $2.71 (Testing Short-term MA Resistance)
🎯 Target 2: $2.78 (Previous consolidation zone)
🔴 Stop Loss: $2.53 (If the 15m candle closes below this, the setup is invalid).
💡 Verdict:
The market is at a decision point. A break above $2.67 confirms the reversal. Watch the volume closely!
Disclaimer: This is not financial advice. Always do your own research (DYOR) before trading.
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