Axie Infinity: How to short the 50% crash that AXS is about to undergo

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-Axie Infinitys price is shattering the support levels as it falls off a cliff.
-The massive downswing is a result of two reasons the market condition and a top reversal pattern formed over the course of eight months.
-Axie Infinity set up a head and shoulders on the daily chart.
-The central peak is typically taller than the rest and is termed the head.
-The swing lows can be connected using a horizontal trend line to form a neckline.
-This setup is a popular reversal pattern and usually signals distribution in the asset followed by the end of the trend uptrend.
-The target for this setup is obtained by measuring the distance between the peak of the head and the neckline and adding it to the breakout point.
-Axie Infinity price is close to retesting its target, but the bulls seem to be intervening.
-After a retest of the $45.22 hurdle, AXS is likely going to collapse again, but this time, it will visit the forecasted target at $12.38.
-Supporting this short-term uptrend in Axie Infinity price is the surge in on-chain volume from 233 million to 1.03 billion over the last five days.

 

 

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