1-Hour Chart Analysis:
Price Action: AXS/USDT is currently trading at $4.827, reflecting a slight decline of 0.52%. The price is hovering just above the 200-period Simple Moving Average (SMA) at $4.749, which is providing support for the asset.RSI: The Relative Strength Index (RSI) stands at 58.49, indicating that the asset is in neutral territory but leaning towards the bullish side, as the RSI approaches the overbought level of 70.MACD: The MACD line is at 0.020, above the signal line at 0.015, suggesting a possible continuation of the bullish momentum.
4-Hour Chart Analysis:
Price Action: On the 4-hour chart, the price is still below the 200-period SMA at $5.560, indicating that AXS/USDT is facing significant resistance at this level. The price has been trying to break this level but has yet to succeed.RSI: The RSI on this timeframe is 55.35, indicating that the asset is in neutral territory, with no clear overbought or oversold conditions.MACD: The MACD on the 4-hour chart shows a more neutral outlook, with the MACD line at 0.040 slightly above the signal line at 0.030. This suggests that while there is a slight bullish bias, the momentum is not as strong as in the 1-hour chart.
AXS/USDT is currently in a phase of testing critical support and resistance levels on both the 1-hour and 4-hour charts. The short-term outlook on the 1-hour chart shows potential for a bullish continuation, especially if the price can hold above the 200 SMA. However, the 4-hour chart indicates that the asset faces stronger resistance, and a decisive break above the 200 SMA on this timeframe is necessary for a more substantial upward movement.
watch for potential breakouts above $4.90 on the 1-hour chart and $5.56 on the 4-hour chart for confirmation of further bullish momentum. Conversely, failure to maintain current support levels could lead to a retracement toward lower support levels around $4.60 and $4.40.
