#AXS moved as expected and failed to break the resistance level of $8.700-$8.400.

The specified resistance area was not fully consumed and invalidated the bullish scenario.

The price left the small ascending channel that was formed in the 4-hour time frame and fell to the support level of $6.500-$6.300.

Now, it will need to rebound to continue its ascent to challenge the resistance once again . Given its history of bouncing from critical demand levels, there is a possibility that #AXS could replicate this behavior and push upwards.

A breakdown below the demand area would negate the bullish outlook and potentially lead to extended declines.

$AXS #DYOR