Keeping a close eye on Axie. Potential breakout coming
Axie has been in a bear market since peaking in Nov 21 and is now currently testing the bear market trendline that has been a major resistance level for sometime now.
My idea is with many cryptos rallying in price its highly probable that Axie can breakout of the downward trendline its currently up against. If a breakout does occur there is a strong possibility that the next resistance zone will be tested which is at approx $19 to $24.
But beware that if price gets rejected from trendline resistance then we could see a retracement to the $8 zone or even major support (red line)
My idea is with many cryptos rallying in price its highly probable that Axie can breakout of the downward trendline its currently up against. If a breakout does occur there is a strong possibility that the next resistance zone will be tested which is at approx $19 to $24.
But beware that if price gets rejected from trendline resistance then we could see a retracement to the $8 zone or even major support (red line)
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