Axie Infinity [AXS] buyers could aim to propel recovery toward this range

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

As Axie Infinity[AXS] approached its $11-$12 year-long support range, the buyers stepped in to inflict an up-channel (yellow) revival.

Consequently, AXS hiked above the basis line (green) of the Bollinger Bands (BB) to test the $15 resistance. The break below the channel has exposed AXS to a likely downside in the coming sessions. At press time, AXS was trading at $13.945, down by 6.19% in the last 24 hours.

Source: TradingView, AXS/USD

The alt’s reversal from the $27-level since early April pulled it down toward its year-long support. Meanwhile, AXS marked a three-week trendline resistance turned support (yellow, dashed).   

The altcoin lost over 58% of its value (from 31 May) and plunged toward its 11-month low on 19 June. As the buyers finally swooped in, AXS registered gains and found a spot above the basis line of BB. With the upper band of the BB and the $15-mark creating a stiff barrier, the alt saw an expected drawdown.  

The fall below the up-channel confirmed a breakdown. The sellers could now aim to test the POC in the $13-zone before any bullish revival prospects.

A sustained close below the basis line can pull AXS toward the $13.5-support. A close below this level can extend the downside toward the trendline support. On the flip side, an immediate revival from the POC can give the buyers a much-needed boost to retest the $14-$15 range before any reversals.

Source: TradingView, AXS/USD

The RSI’s equilibrium has flipped into resistance after the sellers exhibited their edge over the last day. Although the index was near the neutral zone, the buyers needed to ensure a close above the