Hey Guys..!!
Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.
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Alright, let's get straight into the discussion, happy reading!!
Axie Infinity (AXS) Analysis
Today, November 12, 2022, I will try to analyze the price movement of AXS technically.
If we look at the price movement of AXS in general, we can see that AXS is in a very deep bearish phase. We can see this in the AXS price movement pattern in the chart above where the candlestick tends to move downwards if we look closely.
The chart above also shows that the Bearish Trend that is happening in the AXS/USD market will continue in the next few days because the AXS price has broken the Support Level.
The EMA Indicator confirms this with a Death Cross occurring between the 100 EMA and 200 EMA.
Further confirmation was also given by the ADX indicator with the presence of a cross between the two DI lines where the DI- the line moved above the DI+ line.
Not to forget, the RSI indicator also shows that there will be an oversold phase in the AXS/USD market, this can be proven by the movement of the RSI line which is moving directly to the Lower Band which is the lower limit of the RSI indicator.
Disclaimer: