Market Overview for Axelar/Bitcoin (AXLBTC) on 2025-12-10

Summary
• Price rose from 1.27e-6 to 1.73e-6 before correcting sharply.
• Sharp volume spikes preceded key moves, especially between 06:30 and 08:15 ET.
• RSI oversold and overbought levels were reached, indicating divergences.
• Bollinger Bands widened during the rally and narrowed during consolidation.
• A bearish engulfing pattern formed near the 24-hour high, suggesting possible reversal.

At 12:00 ET − 1 on 2025-12-10, Axelar/Bitcoin (AXLBTC) opened at 1.27e-6 and reached a high of 1.73e-6 before closing at 1.51e-6 by 12:00 ET. The 24-hour low was 1.27e-6. Total traded volume amounted to 982,241.11 units, with a notional turnover of approximately $1,476.26 at BTC prices.

Price Action and Structure

The pair exhibited a strong bullish move from 06:30 to 08:15 ET, forming a sharp rally with several strong-volume candles breaking above prior resistance levels.

This was followed by a bearish consolidation phase, marked by a bearish engulfing pattern near the high. The price action suggests traders may be testing the strength of this new range, with key support levels emerging around 1.5e-6.

Momentum and Volatility

The RSI hit overbought territory (80+) during the rally and later dipped into oversold conditions, signaling potential divergence from the price trend. MACD showed a bearish crossover following the peak, aligning with the pullback. Bollinger Bands expanded significantly during the rise and later contracted, indicating reduced volatility and a potential period of consolidation ahead.

Volume and Turnover

Volume spiked during the key rally hours, confirming the strength of the upward move. However, volume during the pullback was relatively low, suggesting a lack of conviction in the bearish move. The highest notional turnover occurred between 06:30 and 08:15 ET, coinciding with the price surge.

Fibonacci and Retracements

Fibonacci retracements from the 24-hour low to high showed a pullback to the 61.8% level near 1.48e-6. The price found initial support here, but further confirmation is needed to assess whether this level holds.

Looking ahead, traders may watch for a retest of the 1.48e-6 to 1.5e-6 support range and potential breakout attempts above 1.62e-6. While short-term momentum appears bearish, elevated volume and divergences in RSI suggest caution is warranted for the next 24 hours.