<img class="alignnone" src="https://s3.tradingview.com/snapshots/e/eP5X9v0s.png" alt="AXS" width="1386" height="790" />
<a href="https://www.tradingview.com/x/eP5X9v0s/">https://www.tradingview.com/x/eP5X9v0s/</a>

The powerful growth wave of the AXS cryptocurrency began a little earlier than the other coins. On the daily chart, we see that trading volumes are abnormally high, indicating interest in this cryptocurrency in the past. The chart shows three main price boosts by buyers. If the first two were on high volumes, then the latter occurs without volumes.

Currently, the global point for continuing the <a href="https://www.cryptoknowmics.com/news/axs-technical-analysis-phenomenal-growth-to-continue-with-new-highs-of-70-111/">AXS</a> growth trend is in the range of $38-$43. It is in this range that the highest trading volumes in the history of cryptocurrency were recorded. If during the deep correction the price does not stay above this range - we will have to forget about cryptocurrency growth for a long time. The fact is that this range could be unloading the main positions of buyers. And the continuation of price growth can now occur by inertia due to the strong history of the growth trend.

Besides, pay attention to the local growth wave from 5 August. In time, it lasts the longest of the 3. However, the growth result is the worst. Comparing this with low trading volumes, we assume that the AXS market is preparing for a major correction.
<h2>Technical Analysis Of AXS On The 4-Hour Timeframe</h2>
<img src="https://s3.tradingview.com/snapshots/x/xpbEfCx8.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/xpbEfCx8/">https://www.tradingview.com/x/xpbEfCx8/</a>

If we go down the timeframe steps, we see that after the price fall on 7 September, the AXS price stopped in a triangular consolidation. The critical point for the continued decline is at $64. If sellers manage to take control of this mark - we will expect a new powerful fall wave of the AXS market.

In addition, we see in the 4-hour timeframe that buyers tried to take control of the local price zone of $70-$72 on 16 September. This range keeps the price from 8 September and is the upper limit of the consolidation triangle. An attempt to break this price zone was completely unsuccessful and even worse than the previous one. Therefore, if the new local attack of buyers does not start with high volumes - the probability of breaking the triangle down will be quite high.
<h2>The AXSBTC Price Is Getting Ready To Jump Down</h2>
<img src="https://s3.tradingview.com/snapshots/w/W7ZDHePo.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/W7ZDHePo/">https://www.tradingview.com/x/W7ZDHePo/</a>

The AXSBTC chart also shows clear signs of a slowing trend. The best-case scenario at the moment is the start of the AXSBTC price correction to the range of 0.0009-0.00096 and a stop in the broad consolidation of 0.0009-0.0016. The critical point for this scenario will be 0.0015. At this mark is the lower trend line of the growth channel, in which the AXSBTC price moves from 26 July.

Therefore, at the moment it is important to observe how sharp the correction will be in the AXS market. This will give an understanding of the final target of local decline and the beginning of a new growth wave.

AXS Technical Analysis: Correction Is Extremely Necessary

If the entire cryptocurrency market began to revive in late July, and the first powerful AXS boost by 900% up buyers make in June.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

AXS Technical Analysis: Correction Is Extremely Necessary

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