📊BREAKOUT SIGNAL IN AXLUSDT📈
Current Market Situation
AXLUSDT is currently trading at $0.5447, with potential for a massive breakout from a falling wedge pattern, indicating a 236.07% gain up to $1.2826.
Technical Analysis
The chart analysis suggests a significant downtrend marked by the descending red trend line, indicating resistance levels that have contained price movements.
However, some analysts believe that the price could stabilize above the support level at $0.5400, potentially reversing the bearish trend.
Trade Ideas
Some analysts recommend buying AXLUSDT on pullbacks to the $0.61-0.65 level, presenting a great position trade for the long term, with an initial price target of $1.26. Others suggest waiting for a breakout retest of the ascending triangle, which would indicate bullish momentum.
Key Levels to Watch
- Resistance Level: $0.6200
- Support Level: $0.5400
- Target 1: $1.26
- Target 2: $1.64
- Target 3: $2.38
Keep in mind that market conditions can change rapidly, and it's essential to stay updated and adjust your strategies accordingly.
Always consider risk management and proper trading strategies.
