Axie Infinity, Binance Coin & Cardano — Asian Wrap 16 May

Axie Infinity price displays reasons to believe in further momentum to the downside. Traders should cautiously approach a short bias or avoid the digital asset until the invalidation target is breached. Axie Infinity price appears to be unfolding a wave three down like many other cryptocurrencies to start this week’s trading session. 


Binance coin price could be due to more decline as the technicals hint at subtle bearish control. Binance coin price has retraced 50% in a very sharp and short period of time, a textbook marker for zigzag corrections within wave three price action. 


Cardano price could be prepping for its final capitulation low. The technicals indicate an unfolding zig-zag that can extend as far as $0.20. Traders should be very cautious as the declining wave does hint at a 20% worth of countertrend space to potentially scalp upwards from the current price of $0.55.

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