<em><strong>The AXS Technical Analysis displays a declining trend in the daily chart threatening the buyer's dominance at the $11 support level.</strong></em>

The AXS price action displays a long-term downtrend resulting in a descending triangle pattern in the daily chart with the bottom support level at $11. Furthermore, price action shows a new resistance trendline forming another bearish triangle with the bottom support at $11. So, should you consider booking profits in <a href="https://www.cryptoknowmics.com/news/axie-infinity-fully-removes-token-rewards-from-its-classic-game-mode/" target="_blank" rel="noopener">Axie Infinity</a>?
<h3>Key Points:</h3>
<ul>
 	<li>The Axie Infinity price action shows descending triangle pattern in the daily chart.</li>
 	<li>The declining trend gains momentum and teases a bearish breakout.</li>
 	<li>The intraday trading volume in Axie Infinity is $46.66 million.</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/8/8B3tEMIh.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/8B3tEMIh/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>AXS Technical Analysis</h2>
The AXS price action displays a long-term resistance trendline forming the descending triangle with the support level of $11. Moreover, the recent bear cycle increases the possibility of a downtrend below the $11 mark.

Currently, the price action shows a power struggle at the new short-term resistance trendline. In addition, the increase in trading volume supporting the bearish candles increases the fallout possibility. Therefore, sideline traders can shortly expect a bearish entry opportunity with the triangle fallout.

The AXS price retest of the dynamic resistance trendline suggests a strong possibility for a bearish reversal. The higher price rejection candle accentuates the potential downfall and can plunge the prices to $11.7. Moreover, a daily candlestick cloning below this support will intensify the bearish momentum and prolong the ongoing downtrend.

Alternatively, a breakout above this trendline could drive the prices to the $15.1 mark.
<h2>Technical Indicators</h2>
Contrary to the falling price, the rising daily-RSI slope indicates an evident bullish divergence and breakout opportunity from the resistance trendline. However, the multiple crossovers between the MACD and signal line accentuate uncertainty among market participants.

Therefore, the technical indicators show a growing bullish inclination in the underline sentiments. As a result, the AXS technical analysis forecasts a bullish breakout of the $1.20 breakout.

Resistance Levels - $13 and $15

Support Levels - $11 and $10

AXS Technical Analysis: Declining Trend Warns $11 Fallout

The AXS technical analysis displays a declining trend in the daily chart threatening the buyer's dominance at the $11 support level.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AXS Technical Analysis: Declining Trend Warns $11 Fallout

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