AXS Technical Analysis Uncovers Hidden Bullish Momentum

The AXS cryptocurrency is currently experiencing a short-term downtrend, but technical analysis suggests that there may be potential for hidden bullish momentum. Momentum indicators such as the MACD histogram are showing strengthening momentum despite the downtrend.

Additionally, the Relative Strength Index (RSI) is trapped in the neutral zone at 39.92, which is just above the oversold threshold. This level indicates that selling pressure may be easing, but buyers have not yet taken full control.

The trend direction remains dominated by downside, with price trading below the Exponential Moving Average (EMA20). Declining volume also indicates trend weakness, making it challenging to confirm a reversal in the short term.