AXS Technical Analysis: Late Retest Resurges the Bullish Morale

The AXS coin price successfully retests from the falling channel breakout resulting in a bullish reversal and the $60 breakout. Moreover, the recently formed bullish candle undermines the retracement of last week. However, the price struggles to rise above the 50-day EMA. Will the bulls overcome the recent death cross-influence? Key technical points: The coin price breaks above the $60 mark. The Stochastic RSI indicator gives an early bullish crossover. The 24-hour trading volume in the Axie Infinity token is $556 Million, indicating a 90% rise. Past Performance of AXS AXS coin price trades at $65.25 with a price jump of 11.47% in the last 24 hours as it completes the retest of the falling channel pattern. However, the rising prices struggle to overcome the sellers at the $70 zone. Nonetheless, the increased buying pressure evident by the 90% growth in trading volume hints at a bullish breakout. Source-Tradingview AXS Technical Analysis The AXS coin price creates a morning star pattern to retest the bullish breakout of the falling channel. Moreover, the prices sustain above $50 as the bulls overtake the trend control. The RSI Indicator shows a phenomenal jump in the underlying bullishness as the slope breaks above the 14-day SMA and 50% mark. Hence, the slope entering the nearly overbought zone indicates a bullish reversal. The Stochastic RSI indicator showcases an abrupt end of the bear cycle as the K and D lines give a bulli...