ax over 10% to trade above $45. **Alanche's pace is picking up and may soon break above the $50 resistance zone.
After a downside correction, Alanche's ax is at 38Support was found near the $00 area and at 36A low was formed near $48, starting a new round. This round of the trend is strong, already exceeding 10% and successfully breaking through many hurdles around $40.
In from 45The swing high of $33 to 36Within the range of the low of $48, the **AX showed a clear **trend** and managed to trade at 76Volatility was achieved above the 4% FIB retracement level. Currently, AX has surpassed $42, and at the same time, its 100 simple moving flat is also above it.
On the 4-hour chart of the AX USD currency pair, we see a major ascending channel forming with support at 40Around $80. This means that if this level holds steady, then we can expect it to continue.
On the bright side, the immediate resistance is at 45$40 area. The next major resistance is at 46Formed near the $80 area. If these two levels are broken upward, then it may exceed 10%, which could mean that it will steadily reach the $50 or even $52 level.
If ax fails to continue above 45$40 or $46At the $80 level, a downward correction may begin. The immediate support to the downside is located at the channel trend line at 40Around $80.
Currently, the main support is located at 3800 USD area. A break below this level could result in a significant ** to 34$20 and $100 Simple Mobile Flat** (4 hours) to open the door. The next major support is at 27Around $50.
Looking at the technical indicators, the 4-hour MACD shows that the MACD of **AX USD is gaining momentum in the bullish zone, which is a positive sign. Meanwhile, the 4-hour RSI (Relative Strength Index) is currently above the 50 level, indicating positive market sentiment.
Main support level: 40$80 and $38$00 Major Resistance Level: 45$40, $46$80 and $5000 USD.
Overall, while the market sentiment is positive, investors should remain vigilant and keep a close eye on the movement of the **ax**. In the event of a downside correction, investors should consider at the right support level for potential profits.
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