AXS/USDT: Last drop expected before bullish reversal

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

AXS/USDT: Last drop expected before bullish reversal

Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets AXS suffered about negative global market situation especially the recent underperformance in Metaverse industrie
- AXS is expected to do a last drop in excess to triggered the bullish divergence on going.


Market configuration

- Graphical Elements :
Graphical Resistance = 54 & 166
Graphical Support = 13,50

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market at 35,40 = Bearish
RSI indicator (below) is on going divergence = Bullish reversal

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target C (B) is set at = 17,90
Fibonacci resistance of the wave in progress = 35
Fibonacci support of the wave C (B)(max extension) = 13,50
Fibonacci Bullish Target = 54


Conclusion

Preferred case => Regarding the mid-term element, AXS is expecting to print a last drop before reversing up sharply as long as 13,50 remains support in order to test and surpass 35,00 first before reaching 54,00

Alternative cases => Breaking 13,50 a significant drop will open the door towards close 0 = crash

Trade active:

Support tested - view still valid