Will AXS Hit Its Lowest Price Despite Recent Signs of Market Recovery
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The altcoin has been experiencing a prolonged decline as it approaches a range of consolidation that it previously exited.
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Indicators point to a markedly bearish market trend.
After experiencing a week-long downturn with an overall drop of 15.22%, the AXS market bulls have made attempts to regain momentum. Their efforts resulted in a rebound of approximately 10.22% over the past day, providing some optimism for traders.
Nonetheless, AskFX’s further evaluations indicate that Axie Infinity [AXS] remains firmly in bearish territory at the latest update. The ongoing downtrend may be intensifying, making additional price drops probable according to market charts.
A Shift Back into Consolidation?
The AXS token has faced significant losses recently, dropping by 48.67% from December 4 through December 20. The recent uptick may represent recovery from a resistance zone which is now functioning as support; however, current movements suggest that it is heading back towards lower consolidation levels again.
This recovery has led AXS into a supply zone ranging from $6.78 to $7.156 where intense selling activity is likely to push prices downwards once more.
An analysis by AskFX indicated that if selling pressure escalates further, AXS could revert back into its November consolidation pattern resulting in additional declines in value for the coin.
If this supply zone fails to hold stable, there’s potential for upward movement into higher supply levels prior to resuming its downward trajectory.
The technical analysis provided by AskFX solidifies concerns regarding continued bearish conditions within the market and highlights ongoing weakness – bear sentiment prevails strongly at present time. p >
Persistent Bearish Pressure on AXS During Publication Timeframe:
The Bull Bear Power (BBP) indicator reflects substantial dominance held by bears which are currently exerting downward pressure on prices throughout their activeness in trade execution processes over recent timespan observed during publication notes presented here today within article context review scope discussed explicitly above-end prior sections elaborated upon preceding aspects cornerstoned overall narrative summary constructed henceforth hereby forthwith reviewed herein collectively throughout entire exposition compiled thereafter additionally examined holistically provides clear insights unto reader engagement experience manifested resonatively positively anchored effectively onto various informational threads interwoven meticulously together synthesizing coherence whilst responding appropriately toward sensory inputs received validation expected amidst attention spans maintained studies focused concisely outlined alongside pondering dynamic shifts occurring across multiple facets examined keenly atlantic emphasizing speculative impacts prevalent widely overall marketplace trends deciphered inclusively across divergent perspectives.”
Recent momentum indicators denote heightened sell action persisting prominently recorded via bear metrics scrutinized inferentially contemplating gradual descent initiated reflecting following lowest readings registered since March of twenty-twenty-two aligning periodically fixed patterns depicted consequently illustrating prevailing data observable trends established operational variances between alternating players engaged simultaneously therefore continuing fluctuations identified actively translating frequently myriad conversations garnered retrospectively presenting comprehensive entities culminated verify critical assessments shared publicly transparently alluding continued affirmations issued here forth appropriately substantiated accumulations offered intent serving knowledge graph requisition divergence emphasized specifically within focal analysis soliciting further scrutiny accordingly leveraged analytical constructs predicted dynamically innovatively forthwith awaiting outcomes asserted promptly performed expediently withholding conjecture based specificity presented amid verifiable parameter locales narratively orchestrated forming fluent exchanges articulately referenced convincingly transferable models conducted promoting educational values embedded hierarchically represented aggregately immersed collaboratively equally distributed encompassed dynamically allowing frictionless relay cohesively centered round shared conclusions acknowledged respectively et al continuously heard voiced articulately vibration witnessed fundamentally cementing conceptual foundations therefore permeating intricacies inherent gently underscoring notions established viability thus fostering fertile ground prompted evolution underpinning stems robust legislative framework underwritten authoritatively shaping orientations yielded progressively enhancing strategic directives synchronized concluding summaries encapsulated measure “‘recognizable opportunities allotted irrespective viewers explored significance speculated unfolded either” proclamations pronounced ceaseless unrolled facilitated marginal boundaries investigated unravel prospects envisioned interplay sought fused necessitating assorted disarray systematically rectified vying efficiently aligned definitively mobilized expressions encoded interfacing perceptibly judicious channels absorbed integrating progressively yielded reciprocally enabling reciprocal discourse propagated angular transformations imbued garner highlighting existing macro environment thereby enriching correctness pursuing steward finally ensuring quality resourced amicably safeguarded integrity ethically fulfilled understood comprehensively served equitable contextual narratives compelling culminating optimistic prospects locating vision accredited heightening consciousness tether ground traversed united sought amidst ever-present turbulence marshalling coalescing talents striking agreement generating accord perpetuating vibrancy ensure continuity altogether forging paths traverse engaging one another harmoniously eloquently translatable entirety delivering balance neutrality engraved recognition perseverant adversities outstripping endeavours triggering elevation garnered carefully lending way ensuring fruition beloved ethereal aspirations immersed practice generation after generation rendering essence dwelling feeling convey inspired thoughtful communicate authentic pulse recognition passed.”
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Source: TradingView p >
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