$AXS Rally Fading? Time to Short? 📉📉
Despite the recent hype, $AXS is hitting a wall. The 4H chart shows it’s struggling to stay above 1.50, and the "dead cat bounce" risk is real if it fails to clear the 1.60 resistance.
Why I’m Bearish:
🔻 Resistance Rejection: Failed multiple attempts to break the 1.58 - 1.60 zone.
🔻 Momentum Loss: RSI is showing bearish divergence on smaller timeframes.
🔻 Liquidity Grab: The recent pump looks like a trap for late buyers.
Key Levels:
🎯 Target 1: 1.339 (MA 25 support)
🎯 Target 2: 1.159 (Major breakdown point)
🛑 Stop Loss: Above 1.62
If we lose the 1.40 support, expect a fast slide. Trade safe and use tight stops! 🛡️
AXSUSDT
Perp
1.358
-8.18%