Axelar Price Prediction: Will AXL Coin Decline More Soon?

• As per the Axelar price prediction, the AXL coin price slightly decreased by 1.2% in the last 24 hours.
• The market capitalization of the AXL coin is $120.98 Million.
• The AXL coin price is trading at $0.3892 and the 52-week price bound range is $0.3734 – $1.15.

The Axelar price prediction highlights that the coin recently took rejection from the trendline and it is trying to sustain itself at the current level of $0.3892. This month the AXL coin price trend was bearish as the price was down by 4.28%. The AXL coin underperformed this month. The AXL coin price has seen a decrease in its price by 46.60% in all-time history which highlights its poor performance.

Axelar Price Technical Analysis

The Axelar price prediction indicates that the amount of AXL coin price traded in a day is $15.259K. As observed, the trading activity is poor in the AXL coin, highlighting the lack of the bull’s interest.
The AXL price has respected its significant trendline forming a downward channel by making lower lows and higher highs which highlights that the price might go in the downward direction. As examined, the coin’s volume lacks bull’s interest and resistance is high as the price is below major EMA’s. The price is going toward major support. If the price breaks the support line, it will move downward toward the next support.

On the day of publishing, the Axelar price is trying to sustain itself at the current level on the 1D chart. The AXL crypto coin price is trading below the 20 and 50-day EMA (exponential moving average), which is rejecting the AXL crypto coin price trend downwards. There is a possibility that the worth of the AXL crypto coin price might decrease more in the forthcoming week if the bears come into action again. Moreover, this week the AXL crypto coin price was down by 4.28%.

 

The MACD indicator summarizes the downtrend momentum of the AXL coin price. The MACD line is above the signal line waiting for any type of crossover. Also, the MACD indicator is in the negative zone below the zero line. The MACD line at -0.0112  and signal line at -0.0127 is below the zero line, suggesting that the MACD is in negative territory and is giving bearish signals.
The current value of RSI stands at 36.95 points. The 14 SMA line is below the median line at 41.44 points which indicates a downward direction and bearish sentiment in the market. As the price is heading toward oversold territory, the market is encountering bearish sentiment.

The technical parameters of the AXL coin price suggest the continuation of the downtrend over the daily time frame chart. The AXL coin price reflects a pessimistic view at the moment. Major legitimate indicators MACD, RSI, and EMA, flaunt negative signals about the AXL coin price.

Extraction

The Axelar price prediction highlights the sentiments and perspectives of investors and traders regarding the coin being bearish in the 1D timeframe. The AXL coin reflects a pessimistic view at the time of publishing. The technical parameters for the AXL crypto coin price indicate bearish pressure.

Technical Levels

• The nearest support level is $0.3583.
• The nearest resistance level is $0.4537.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.