Technical analysis by alizeynali69 about Symbol AXS: Buy recommendation (1/19/2025)

🎯 IntroductionAXS (Axie Infinity Shards) is the native token of the Axie Infinity ecosystem, a popular blockchain-based game operating on the "Play-to-Earn" model. Players can earn AXS tokens by breeding, battling, and trading digital creatures known as "Axies." This token is also used in governance mechanisms, staking, and in-game transactions. The growth in AXS’s value is tied to the ongoing development of the game and its wider adoption within the cryptocurrency world. 📊 AXS Technical AnalysisCurrent Status:On the weekly timeframe, AXS is in a long-term range-bound zone:📈 Range High: Red zone (11.186 - 12.605)📉 Range Low: Gray zone (3.840 - 4.414)Key Support and Resistance Zones:Daily Support: Purple zone (5.581 - 5.932)This zone has acted as a key support level. If lost, the price is likely to fall toward the lower range (gray zone).Daily Resistance: Yellow zone (6.910 - 7.328)Breaking through this level could trigger a price move towards the range high (red zone).Upcoming Scenarios:🟢 Bullish Scenario:If the purple support zone holds and the yellow resistance is broken:Move towards the range high (red zone).A breakout above the red zone will lead to price targets based on Fibonacci levels:🎯 TP1: 20.007 - 24.056🎯 TP2: 41.929 - 48.315🎯 TP3: 67.896 - 77.108Important Note: At each of these targets, profit-taking 💵 is strongly advised.🔴 Bearish Scenario:If the purple support zone is lost, the price may drop towards the lower range (gray zone).🎯 Suggested Entry Points:Break above the daily yellow resistance with a stop loss below the gray zone.Break above the red resistance with a stop loss below the purple zone.Indicators and Volume:RSI:Crossing above the midpoint of the RSI may indicate a bullish move.Entering the Overbought region could lead to sharp upward movements 🚀.📊 Volume Analysis:Increased volume during resistance breaks is crucial; otherwise, there’s a higher risk of false breakouts.📌 Summary:AXS is currently at a critical level. Price behavior in relation to the identified support and resistance zones will determine the future trend. Effective risk management through stop-loss and close monitoring of trading volume are key to success in trading this coin. 💡Recommendation: Always consider the overall market conditions and any related news regarding the Axie Infinity project before making trading decisions.