Technical analysis by SpyMk about Symbol AXS on 12/29/2023

Bias: Neutral to Bullish Description: AXS/USDT has been consolidating, as evidenced by the price moving sideways and the RSI hovering around the neutral 50 level, suggesting indecision in the market. Direction: Possible Breakout or Continuation Entry: A possible strategy would be to enter on a confirmed breakout above the consolidation pattern with increased volume, which may signal a continuation of the previous uptrend. Stop Loss: A prudent stop loss could be placed just below the most recent low or the consolidation area to mitigate the risk of a false breakout. Targets: Profit targets could be established near historical resistance levels or at a measured move equal to the size of the previous uptrend. Caution: If the price breaks down from the consolidation pattern, the bullish scenario would be invalidated, and a reassessment of the market conditions would be necessary.