Axie Infinity (AXS)

🎯 Introduction
AXS (Axie Infinity Shards) is the native token of the Axie Infinity ecosystem, a popular blockchain-based game operating on the "Play-to-Earn" model. Players can earn AXS tokens by breeding, battling, and trading digital creatures known as "Axies." This token is also used in governance mechanisms, staking, and in-game transactions. The growth in AXS’s value is tied to the ongoing development of the game and its wider adoption within the cryptocurrency world.

📊 AXS Technical Analysis

Current Status:
On the weekly timeframe, AXS is in a long-term range-bound zone:

📈 Range High: Red zone (11.186 - 12.605)
📉 Range Low: Gray zone (3.840 - 4.414)

Key Support and Resistance Zones:

Daily Support: Purple zone (5.581 - 5.932)
This zone has acted as a key support level. If lost, the price is likely to fall toward the lower range (gray zone).

Daily Resistance: Yellow zone (6.910 - 7.328)
Breaking through this level could trigger a price move towards the range high (red zone).

Upcoming Scenarios:

🟢 Bullish Scenario:

If the purple support zone holds and the yellow resistance is broken:

Move towards the range high (red zone).
A breakout above the red zone will lead to price targets based on Fibonacci levels:
🎯 TP1: 20.007 - 24.056
🎯 TP2: 41.929 - 48.315
🎯 TP3: 67.896 - 77.108
Important Note: At each of these targets, profit-taking 💵 is strongly advised.

🔴 Bearish Scenario:

If the purple support zone is lost, the price may drop towards the lower range (gray zone).

🎯 Suggested Entry Points:

Break above the daily yellow resistance with a stop loss below the gray zone.
Break above the red resistance with a stop loss below the purple zone.

Indicators and Volume:

RSI:
Crossing above the midpoint of the RSI may indicate a bullish move.
Entering the Overbought region could lead to sharp upward movements 🚀.

📊 Volume Analysis:
Increased volume during resistance breaks is crucial; otherwise, there’s a higher risk of false breakouts.

📌 Summary:
AXS is currently at a critical level. Price behavior in relation to the identified support and resistance zones will determine the future trend. Effective risk management through stop-loss and close monitoring of trading volume are key to success in trading this coin. 💡

Recommendation: Always consider the overall market conditions and any related news regarding the Axie Infinity project before making trading decisions.