AXSUSDT: Weekly support, consolidation phase!!

17 set

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Hello everyone,
I'm curating a list of promising projects to hold for the upcoming bull run.
1. FETUSDT (already posted)
2. ONDOUSDT (already posted)
3. AAVEUSDT (already posted)
4. ANKRUSDT (already posted)
5. ORDIUSDT (already posted)
6. TURBOUSDT (already posted)
7. AXSUSDT

Let's analyse AXSUSDT both fundamentally and technically.

FUNDAMENTAL ANALYSIS:
Axie Infinity is a blockchain-based game where players collect, breed, and battle fantasy creatures called Axies. Developed by Sky Mavis, the game incorporates elements of cryptocurrency and NFTs (non-fungible tokens). Axies are unique digital assets that can be owned, traded, and used in turn-based battles. Players can earn cryptocurrency through gameplay, with main tokens being AXS (Axie Infinity Shards) and SLP (Smooth Love Potion). Additionally, players can buy and develop virtual land within the game. Axie Infinity operates on the Ethereum blockchain and uses its own sidechain, Ronin, to enhance scalability and reduce transaction fees.

TECHNICAL ANALYSIS:
AXSUSDT is currently trading within a descending triangle pattern, indicating a potential bullish reversal. The price is currently at a key support level, and technical indicators suggest a positive outlook:

MACD: Flat MACD indicates a period of consolidation.
StochRSI: A bullish crossover above the oversold zone suggests a potential uptrend.
RSI: A bullish crossover is in progress, further reinforcing the bullish sentiment.

Buying Levels:
$3.695 to $4.620 (upper buying zone)
$1.272 to $1.989 (lower buying zone)

Target Level:
$19.5 (short term)
$165 (long term)

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Happy Trading!!