AXSUSD: Falling Wedge broken.

Axie Infinity turned overbought technically on the 1D timeframe (RSI = 79.330, MACD = 0.200, ADX = 48.531) as it crossed over the LH 1 trendline, which was the top of the twelve month Falling Wedge. Despite this brute force of breakout, the 1W timeframe is still only neutral and the price remains under the 1W MA50. This is a potential indication that, along with the recently formed 1W MACD Bullish Cross, AXSUSD is underpriced on the long term and there is still strong upside left on the current rally.

Besides the 1W MA50, we have the LH2 as a Resistance right ahead of it. We are taking a low risk breakout approach on this and will buy after the 1W MA50 breaks. Our target will be the R1 level (TP = 14.000), which depending on how aggressive this rally will be from now on, might make contact with the 1W MA100 there. A break over the 1W MA100 then, targets the R2 level (TP = 20.5000).

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