AXS/USDT has recently made headlines in the crypto market as it breaks out of a long-standing descending channel, signaling a potential shift in market sentiment. This development comes after months of bearish trends, and the publication demonstrates positive momentum in the developments, raising hopes among traders for a possible bullish reversal.
Bearish Control Over AXS/USDT
For much of 2024, AXS/USDT was trapped in a pattern characterized by lower highs and lower lows, indicating a strong bearish control over the price action. However, the recent breakout above the descending channel, marked by a robust bullish candle, suggests that the tide may be turning.
Validation of the Breakout
The breakout was further validated by a notable increase in trading volume, which typically indicates stronger conviction among buyers. Traders are now closely monitoring this movement. This could signal the beginning of a new bullish phase for AXS/USDT, potentially leading to further price appreciation in the coming weeks.
Recently, AXS/USDT's breakout has drawn attention, but HBAR is also at a pivotal point as it attempts to confirm a double bottom reversal pattern. For more details, see the full article here.
