Axelar Price Action Resurfaces Above an Important Level

The Axelar market has increased by a significant margin of roughly 10%. This price increase has pushed the market further through an important technical level. As a result, the market appears more likely to witness additional price increases as trading activity continues.

AXL Statistics:
Axelar Price: $0.6347
AXL Market Cap: $507,137,171
Circulating Supply of AXL: 800,680,144
Axelar Total Supply: 1,170,157,008
AXL CoinMarketCap Rank: #114

Key Price Levels:
Resistance: $0.7000, $0.8000, $0.9000
Support: $0.6000, $0.5000, $0.4000

AXL Price Move Sees a More Significant Boost

On the daily chart, the Axelar market has risen past the middle limit of the applied Bollinger Bands. Additionally, the current price candle is larger than the previous one and sits above a key support level.

The Stochastic Relative Strength Index (Stochastic RSI) lines have reached the oversold region, with the leading line now indicating a potential bullish crossover just below the 20 mark. If this crossover occurs, it will likely strengthen the upward retracement, leading to further price increases in the market.

Axelar Market’s Upside Retracement Remains Intact

The AXL 4-hour chart reveals that price activity has also progressed beyond the middle limit of the Bollinger Bands. However, the latest price candle is red, suggesting that headwinds may be exerting some pressure.

It’s important to note that this bearish movement is occurring above the middle limit of the Bollinger Bands, maintaining the potential for upward momentum. Furthermore, the Stochastic RSI lines are still moving towards the overbought region. As a result, traders can still use crypto signals targeting the $0.7000 threshold.

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