AXS/USDT Bears in Control, Reclaim of $4.783 Crucial for Reversal
$AXS

200-Period Moving Average (MA): The price is trading below the 200-period MA, which stands at $4.782, suggesting a bearish trend. The price action is currently struggling to reclaim this level, highlighting significant resistance.

Key Indicators:RSI (Relative Strength Index):Current Level: 27.21, which is well below the oversold threshold of 30. This suggests that AXS is in an oversold condition, and a short-term relief rally might be expected if buying interest picks up. However, the fact that the RSI remains this low signals persistent selling pressure.

MACD Line: -0.050Signal Line: -0.131Histogram: The histogram remains negative and continues to deepen, which is a sign of strong bearish momentum. The MACD line is below the signal line, confirming ongoing downward momentum. No signs of a potential reversal are observed yet, which suggests continued caution for bulls.

Resistance Levels:Immediate Resistance: $4.783, aligning with the 200-period MA. This level acts as a significant point for a bullish reversal; bulls need to push the price above and hold this level to suggest an end to the current bearish trend.

Support Levels:Immediate Support: $4.500, a key psychological level that aligns with the support zone shown in the second image. Currently, the price is testing this level, and if it fails to hold, a further decline could be expected.

Bullish Scenario:For a reversal, the price needs to reclaim the 200-period MA at $4.783 and ideally surpass the $5.500 level. Additionally, an improving RSI (moving towards the 50 mark) and a positive MACD histogram would be required to confirm renewed bullish momentum.Bearish Scenario:If the price breaks below $4.500, the next target could be $4.000. A failure to maintain support at these levels would indicate continued bearish momentum, possibly leading to further declines.

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