Chart shows common supports and resistances based on the price action and the Fibonacci. The total evaluation for the AXS token is bullish. The price action for this coin is very impressive since it has established consistent lower highs for each oversold indication from the Relative Strength Index and for each overbought indications created a new all time high. During the massive bear trend from BTC 58k to 40k (Nov-December), it has only remained above the 200 MA which depicts a very confident long term investment (daily timeframe) and investors should have no trouble holding this token.
The recommended strategy for this coin is to long it especially above the 200 MA and if it does go below that, one must pay attention to the Relative Strength Index to how much oversold it is since each buy orders represent probable buyer interest areas. One should not short this coin unless there is an on-going future bear trend from the stocks and the bitcoin market.
It is never a good idea to short a coin just because it reaches a resistance in an on-going bull market. Always short it only with the help of bear trends to solidify your edge in that ATH resistance.
The recommended strategy for this coin is to long it especially above the 200 MA and if it does go below that, one must pay attention to the Relative Strength Index to how much oversold it is since each buy orders represent probable buyer interest areas. One should not short this coin unless there is an on-going future bear trend from the stocks and the bitcoin market.
It is never a good idea to short a coin just because it reaches a resistance in an on-going bull market. Always short it only with the help of bear trends to solidify your edge in that ATH resistance.