AXS has successfully broken out of a falling wedge pattern on the daily chart — a bullish reversal signal. Price is currently at $2.643 with initial momentum gaining above key resistance.
🔸 Key Support Zone at $2.55:
The $2.55 level is now acting as solid support after the breakout. This level must hold to maintain bullish momentum.
🔸 Upside Target: $9.50 – $10.00
Post-breakout projections indicate a potential upside towards $10 if volume continues to support the move.
🔸 Risk Level at $2.30:
A breakdown below $2.30 would invalidate the bullish scenario and put the price back in a bearish structure.
🔸 Action Plan:
Look for a retest of the breakout zone around $2.55–$2.60 as a potential long entry. Monitor volume and candle structure for confirmation. Mid-term targets lie around $4.00, $6.00, and $10.00.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.