After an 85% rally in October, Axie Infinity (AXS/USD) is trading sideways and consolidating in the same price range of $ 130. Investors have been patiently waiting for a breakout, which could be seen in early November. However, AXS could not sustain the breakout and fell into the zone for theück. Investors should be patient and only enter when a clear breakout is visible. The long consolidation after the rally looks like a large-like bullish structure, which, however, can only be strengthened if a breakout becomes visible. Is AXS ready for a breakout?

What do the charts indicate?

• AXS has been trading in the $130 zone since the sharp rally in October. AXS tried to break out once, but failed and returned to the zone earlier this month.

• AXS could soon break the 50-day moving average. This could be an indication that a bullish rally is imminent.

• A breakout from the zone could lead to huge returns in the coming weeks and months.

• Investors need to be patient. An entry should only be made when a clear outbreak can be seen.

• A target of $ 164 can be set, followed by a new all-time high in the coming weeks.

• A stop loss must be kept below the zone in case a false breakout occurs.

Is Axie Infinity ready for a breakout? appeared first on Coin Hero.