AXSUSDT - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 37.6000, beginning of uptrend is expected.
We make sure when the resistance at 91.0875 breaks.
If the support at 37.6000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 44.42 on 2022-01-24 and the trough at 41.9 on 2022-02-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI resistance #1 at 51 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 41.9000 on 02/24/2022, so more gains to resistance(s) 65.1427, 83.0000 and maximum to Major Resistance (91.0875) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 68.
Take Profits:
65.1427
83.0000
91.0875
111.6055
120.4969
138.8161
166.1540
220.0000
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While the price is above the support 37.6000, beginning of uptrend is expected.
We make sure when the resistance at 91.0875 breaks.
If the support at 37.6000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 44.42 on 2022-01-24 and the trough at 41.9 on 2022-02-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI resistance #1 at 51 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 41.9000 on 02/24/2022, so more gains to resistance(s) 65.1427, 83.0000 and maximum to Major Resistance (91.0875) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 68.
Take Profits:
65.1427
83.0000
91.0875
111.6055
120.4969
138.8161
166.1540
220.0000
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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