Daily RSI for Axie Infinity (AXS) Falls to Lowest Ever Level
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Cryptocurrency trader @Murfski_ noted the importance of this range, suggesting that a jump could transpire back although it is captured.
Oversold readings
Technical indicators for AXS in the daily time-frame do not yet approve the opportunity of a bullish turnaround. Yet, they are showing that the rally is extremely atopsold. This is especially visible in the RSI, that is a momentum indicator.
On Jan 22, the RSI realized a new all-time low of 24. It also created a double bottom relative to the price on Jan 8. Values below 30 are studied atopsold.
In addition to this, there is a growing bullish divergence in the histogram of the MACD. While this is not as high a bullish sign as divergence in the MACD itself, it atop again supports the opportunity of a influential hop.
Short-term AXS developmentment
The two-hour chart shows which AXS has ended a five wave descending movementment which began on Jan 17. Therefore, a considerable jump is inclined.
The closest resistance levels are between $59.6 and $64.2. They are created by the 0.382 – 0.5 Fib retracement resistance region. The latter is also a horizontal resistance range, still soaring its significance.
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