Axie Infinity (AXS) Price Movement: Consolidation Before the Nex
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.
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.