Technical analysis by babyrichcrypto about Symbol AXS: Buy recommendation (6/5/2024)

#AXS is currently moving in a bullish Channel , which serves as strong support. price  gradually approaching a key resistance level around the $8.50 - $8.16  mark. It seems that according to the maintenance of the bullish Channel. if the resistance range of $8.5 is completely consumed; The probability of the continuation of the upward trend similar to the scenario is high. If this specified resistance area is not completely consumed, we expect a downward trend and the bullish scenario is invalid. A successful break above resistance level could lead to a continuation of the upward trend, while failure to break through may result in a price correction. Careful monitoring of the price behavior around this resistance level is crucial for making informed trading decisions. At the moment, we do not have a signal for a bearish trend on the price chart.