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Price movement in the Axelar daily market has broken through the technical resistance at the $0.7000 level. Additionally, the market is approaching the $0.8000 threshold without experiencing any rejection so far. Applied technical indicators suggest positive momentum. Let’s take a closer look.
AXL Statistics:
Axelar Price: $0.7850
Axelar Market Capitalization: $635.54M
AXL Circulating Supply: 809.72M
AXL Total Supply: 1.17B
Axelar CoinMarketCap Rank: 103
The Axelar token has seen continued upward movement today, making it one of the most profitable coins at the time of writing. The current session is trading above the upper limit of the Bollinger Bands, and the corresponding price candle shows no sign of rejection.
Additionally, the Stochastic RSI indicator lines are still rising, with the leading line above 60 and the lagging line below 40, indicating volatility that currently favors upward price movement.
AXL Upside Momentum Likely to Continue
On the 4-hour chart, the Axelar market suggests that upward momentum is persisting. Price action continues to rise from the support found at the $0.7000 level, with recent price candles appearing outside the upper limit of the Bollinger Bands. A new session has begun with buyers still leading.
Similarly, the Stochastic RSI lines are in the overbought region, with the terminal part of the indicator moving sideways near the 100 mark. This matches the activity on the price chart, confirming that upside momentum may eventually push the market to break the $0.8000 resistance. Traders can begin using crypto signals with targets at and a bit beyond that price level for short-term gains.
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