$AXS
⭐️I hope everyone gains a lot of value from this article 👍
On December 20, 2024, the price of Axie Infinity (AXS) is trading around $6.21.
Technical Analysis:
- Moving Average (MA): In the 4-hour timeframe, the 50-day MA is sloping upwards, indicating a short-term bullish trend. However, the 200-day MA is fluctuating, indicating uncertainty in the long-term trend.
- Relative Strength Index (RSI): The current RSI shows that the market is in a neutral zone, with no signs of overbought or oversold conditions.
- Support and Resistance:
- **Support:** The nearest support level is $5.86, the lowest of the day.
- **Resistance:** The nearest resistance level is $6.75, the highest of the day.
Suggested Trading Strategy:
- Range Trading: With the price fluctuating between $5.86 - $6.75, investors may consider buying near the support level and selling near the resistance level.
- Watch for Breakouts: If the price breaks above $6.75 with increased trading volume, consider buying with the expectation that the price will continue to rise. Conversely, if the price drops below $5.86, consider selling or waiting for confirmation signals before re-entering the market.
Note: The cryptocurrency market is highly volatile; therefore, risk management and monitoring market news are very important. #axs $BTC