If AXS/USDT breaks down there is virtually no volume stopping this 27% drop.
I believe the Bearish Scenario is the most realistic scenario to occur.
Bearish Scenario: Currently ATX/USDT has hit ATHs after rising 67.52% ATX has already pulled back 15.98% .If the support of $63 is broken there is very low volume that will hold as true support until $43-$45. ATX has a low volume demand zone that may cause a rise in price but this will not hold for very long as it is not true support.
Bullish Scenario: If ATX/USDT breaks current resistance. There is high volume resistance which could cause ATX to consolidate until the next pump or dump happens. If price pushes past $75 there is little to no resistance that would potentially create another 50-60% push happen. I am not too sure how high ATX would rise in this scenario.
As always trade safe and look for high volume and great price action before entering into a position.
I will be keeping you guys updated throughout the week!
Let me know what you think in the comments!
I believe the Bearish Scenario is the most realistic scenario to occur.
Bearish Scenario: Currently ATX/USDT has hit ATHs after rising 67.52% ATX has already pulled back 15.98% .If the support of $63 is broken there is very low volume that will hold as true support until $43-$45. ATX has a low volume demand zone that may cause a rise in price but this will not hold for very long as it is not true support.
Bullish Scenario: If ATX/USDT breaks current resistance. There is high volume resistance which could cause ATX to consolidate until the next pump or dump happens. If price pushes past $75 there is little to no resistance that would potentially create another 50-60% push happen. I am not too sure how high ATX would rise in this scenario.
As always trade safe and look for high volume and great price action before entering into a position.
I will be keeping you guys updated throughout the week!
Let me know what you think in the comments!
Comment:
UPDATE: Scenario 2 has occurred...AXS went bullish...on to the next!