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The Axeler token appeared in the second spot on today’s daily crypto movers list, following a 3.03% increase in its price. There are indications that price action in the market may push higher despite reduced volatility.
AXL Statistics:
Current Axeler Price: $0.5497
Axeler Market Cap: $422,570,960
Axeler Circulating Supply: 770,563,426
Total Supply of AXL: 1,165,596,684
Axeler CoinMarketCap Rank: 124
Price action in the AXL market rebounded upward off the technical support at the $0.5000 price level. Price has continued to rise in today’s session but with reduced momentum, as indicated by the corresponding price candle. The Bollinger Bands (BB) indicator appears fairly wide, suggesting no imminent spike in price volatility.
Meanwhile, the Stochastic Relative Strength Index (Stochastic RSI) curves have delivered a bullish crossover in the oversold region and are steadily trending upwards. From these indicators, it can be deduced that the market has upside potential but requires bullish commitments from market participants.
The AXL Market Attempts to Expand the Bollinger Bands Envelope
In the Axeler 4-hour market time frame, the price activity has risen past the middle limit of the BB indicator. Furthermore, the price candle for the ongoing session has started pushing at the uppermost limit of the BB indicator, staying green.
Meanwhile, the Stochastic RSI lines have reached the 100 mark on the indicator and are now trending sideways at that level. While traders may want to use crypto signals targeting the $0.6000 and $0.7000 price levels, caution must be exercised against potential downward retracements.
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