AXS has recorded extreme fluctuations!

During the last week, AXS has recorded extreme fluctuations, so these fluctuations are unprecedented in the history of digital currencies and unprecedented in the history of transactions of this currency. Its high intensity can be seen even in time frames of less than 5 minutes. In the first place, due to the strong increase in demand, the price of this currency registered a stunning growth from the range of 6.5 dollars and reached 18 dollars.

But later on, due to very heavy selling pressure, we saw the price return to the starting range of the upward movement. Due to the downward trend of the overall market and more selling pressure that occurred on this currency, the price decreased to the range of $4 for a few minutes. But then the price of this currency returned to the range of 7 dollars. In the rest of the week, the fluctuations between the support of 6.5 and the resistance of 7 dollars have continued. Therefore, the reason for the formation of one of the daily candles with very long shadows on both sides is these extreme fluctuations.

But in the last daily candle, selling pressure is seen again, and the price returns to the low support. The first support for AXS is in the $6.80-$6.90 range. The second support will be in the $6.5-$6.40 range if this level is broken. But if the second support breaks, increased selling pressure could push the price to a new bottom in 2022, which could be considered the $5.30 area.