Here’s a detailed technical analysis for the $AXS /USDT pair with three target levels and trade momentum:
AXS/USDT Technical Analysis:
1. Current Price: $9.426
2. 24h High: $9.881
3. 24h Low: $7.618
Key Support and Resistance Levels:
Support Levels:
$8.00: Key psychological level and strong support from previous low.
$7.60: Recent 24-hour low, acting as another strong support.
Resistance Levels:
$9.88: 24h High, a major resistance zone.
$10.50: Potential resistance if the price breaks through $9.88, likely due to a previous price swing high.
Trade Targets:
1. First Target (T1): $9.88
Based on the recent 24-hour high. Watch for a break above this level for further bullish momentum.
2. Second Target (T2): $10.50
If the price pushes above $9.88 and maintains bullish momentum, $10.50 can be an ideal target based on previous price action.
3. Third Target (T3): $11.00
A more aggressive target if the momentum continues after breaching $10.50.
Trade Momentum:
Bullish Momentum:
A breakout above $9.88 could trigger strong bullish momentum, especially if the buying volume remains high.
The RSI (Relative Strength Index) should be monitored for any overbought signals near $9.88 and $10.50.
Bearish Momentum (Risk of Reversal):
If AXS fails to break above $9.88, it could face rejection and reverse.
Watch for a pullback towards $8.00, which could act as support, or further downside if $8.00 is breached.
Trade Signal:
Buy Signal:
Entry: $9.50 (after a confirmed break above the $9.42 resistance level).
Stop-Loss: $8.50 (to protect from a false breakout).
Take-Profit: $9.88 (first target), then $10.50 (second target), and $11.00 (third target).
Sell Signal (if bearish momentum picks up):
Entry: Below $8.00 (if a bearish breakout occurs).
Stop-Loss: $9.00
Take-Profit: $7.60 (next major support level).
Trade Strategy:
For Bulls: Consider entering the trade after a confirmed break above $9.50 with clear buying signals, aiming for $9.88, $10.50, and $11.00 as potential take-profit levels.
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