- AXS forms an inverse head-and-shoulders pattern, targeting a rise to $22, with $13 neckline resistance.
- Primary support levels for AXS are $7.00 and $5.50, crucial for maintaining bullish momentum.
- AXS breaches downward trendline, eyeing $8.00 resistance, projecting a 44.42% increase towards $11.40.
Axie Infinity appears to form an inverse head-and-shoulders pattern on the weekly chart, which anticipates $AXS to rise toward the neckline before a potential breakout as per analysis by Ali Martinez, a top analyst.The inverse head-and-shoulders pattern typically signals a shift towards bullish momentum in the market.
Based on the current price behavior, there are indications that AXS could be preparing for a notable upward trajectory. The key resistance level to watch is the neckline at $13.00.
#AxieInfinity appears to form an inverse head-and-shoulders pattern on the weekly chart, which anticipates $AXS to rise toward the neckline at $13 before a potential breakout to $22. pic.twitter.com/99kVKwUrwc— Ali (@ali_charts) May 23, 2024
A breakout above this level could confirm the bullish reversal, potentially pushing the price toward the target resistance …
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