Will AXS, BCH Join the Next Altcoin Rally? Indicators Say “Yes”

• The long/short ratio for AXS and BCH reached extremely low levels.
• Bulls have gathered support for AXS at $7.65, indicating a potential rise to $8.72.
• The RSI formed a positive divergence for BCH, suggesting a bounce to $275.

Axie Infinity (AXS) and Bitcoin Cash (BCH) are two cryptocurrencies experiencing a higher level of short position than longs, a Santiment post revealed. However, the on-chain analytic platform noted that the negative sentiment around them could be the catalyst that leads to a rebound.

From the post, the on-chain analytic platform mentioned that traders are optimistic about a recovery from many altcoins. But BCH and AXS were exceptions. 

However, the pessimism of this sort is sometimes good for cryptocurrencies. But this only occurs if some buying pressure appears when the long/short ratio is ex…

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