The Axelar token has entered the top three of the leading crypto gainers list at the time of writing, with a price increase of 4.52%. Let’s explore how the market may perform. The information below will help you understand how the market may perform.
Axelar Statistics
AXL Current Price: $
Market Capitalization: $379.58M
Circulating Supply: 958.39M
Total Supply: 1.19B
CoinMarketCap Rank: 134
Key Price Levels
Resistance: $0.4000, $0.4500, $0.5000
Support: $0.3500, $0.3000, $0.2500
AXL Subsequently Tests Higher Resistance
The Axelar market on the daily chart has been steadily progressing toward higher price levels. As a result, buying activity has been predominant, and price action is seen rising past key technical levels. The latest green price candle on the chart has an upper shadow that tests the 100-day Moving Average (MA) line.
Meanwhile, trading in this market continues upward above the 20- and 50-day MA lines. The Moving Average Convergence Divergence (MACD) indicator line has just breached the equilibrium level. Green bars can be seen appearing above the equilibrium, suggesting the trend may continue.
Axelar Sees a Moderate Rejection
The AXL market has maintained a general upward trend despite experiencing some setbacks. Currently, the ongoing session has introduced a moderate downward retracement. Nevertheless, trading continues above all the MA lines on the chart.
This indicates that resistance remains strong around the $0.4000 level. Meanwhile, the MACD indicator lines are now above the equilibrium. Due to the short-term pullback, the MACD bars are trending slightly sideways. Still, traders can remain optimistic toward the $0.4250 level, as price action stays above all the MA lines.
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