Axelar (AXL) Token Takes Off From a Solid Baseline

Azeez Mustapha


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The price of the Axelar token has increased by 5.38% so far today. What’s more, is that the market has not experienced any strong rejection at this point. However, upside corrections are still facing the uphill task of surpassing notable landmarks that may offer more traction to price movement.

Axelar Statistics:
Current AXL Value: $0.6533
AXL Market Cap: $457,765,899
Axelar Circulating Supply: 706,560,245
AXL Total Supply: 1,156,113,813
Axelar CoinMarketCap Rank: 129

Key Price Levels:
Resistance: $0.7000, $0.7500, and $0.8000
Support: $0.6500, $0.6000, and $0.5500

Axelar (AXL) Token Takes Off a Solid Baseline The AXL Market Retraces Steps Towards the 20-Day EMA Curve

After price activity in the Axelar daily market had consolidated at the baseline of $0.5600, the previous session witnessed a moderate upside rebound, while today’s trading activity continued the trend. The ongoing session has brought the market to now test the 20-day EMA curve.

Simultaneously, we can see that the Moving Average Convergence Divergence (MACD) indicator lines are trending slightly upward toward the equilibrium level. Meanwhile, the bars of the indicator can be seen growing steadily above the equilibrium level. Although the market has only seen a minimal price increase, it could be opined that the market may rise past the 20-day EMA curve at least.

Axelar (AXL) Token Takes Off a Solid Baseline Axelar Price Movement Is Securing Its Upside Potential

The AXL market has climbed above three out of four EMA lines in the 4-hour timeframe. More recent trading activities can be seen hovering just above the 100-day EMA curve. Also, the MACD lines have crossed above the centerline. The lines continue to trend slightly upward, while the bars are now pale green.

Likewise, the ongoing session has presented a minute-long downward correction but stays above the 100-day EMA curve. Therefore, despite indications that suggest that upside forces are getting weaker, it appears the market may still present short-term gains toward the $0.7000 price mark. So traders can still use crypto signals targeting this price level.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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