Axelar Market Overview (2025-08-11)

• Axelar (AXLUSDT) surged past 0.360 on strong volume before consolidating near 0.350 by 12:00 ET.
• Momentum shifted midday as RSI entered oversold territory and volume dropped sharply post-15:00 ET.
• A bearish 15-minute engulfing pattern emerged near 0.362, followed by a sharp selloff into 0.354.
• Volatility expanded with a Bollinger Band width peak at 0.363, followed by a sharp contraction into 0.350.
• Fibonacci retracement levels at 0.357 and 0.361 provided short-term resistance during the rally.

Axelar (AXLUSDT) opened at 0.3566 (12:00 ET − 1), hit a high of 0.374, a low of 0.3463, and closed at 0.3547 by 12:00 ET. Total volume reached 19.9 million units, and turnover was approximately $6.85 million over 24 hours. A key bearish shift appears to have taken hold following a midday breakdown.

Structure & Formations

A significant bearish engulfing pattern formed around 0.362 on the 15-minute chart, confirming the breakdown from the 0.362–0.365 range. Price action suggests a temporary pivot at 0.361, followed by a decisive move downward toward 0.350. A key support level appears to have formed near 0.354, marked by multiple candle closes and a volume spike at 0.3549.

Moving Averages

Short-term momentum shifted below the 20-period and 50-period moving averages by late morning, signaling a potential reversal in bullish bias. The 50-period moving average now resides above 0.363, acting as dynamic resistance, while the 200-period MA remains bearish on the daily timeframe. Price appears to be aligning with a bearish crossover pattern on the 15-minute chart.

MACD & RSI

The MACD line turned negative by 0.360, confirming a bearish divergence from earlier bullish momentum. RSI reached oversold levels near 0.350, suggesting a potential near-term bounce. However, the divergence in volume during the downward move hints at weak conviction in the current bearish wave.

Bollinger Bands

Bollinger Band width expanded sharply during the midday rally, peaking at 0.363–0.369, followed by a contraction into the 0.350–0.360 range. Price has since consolidated near the lower band, indicating a period of low volatility and potential for a breakout or reversal.

Volume & Turnover

Volume surged at key turning points: the 0.362 resistance and 0.354 support levels. However, volume dropped sharply post-15:00 ET despite continued bearish price action, suggesting a potential exhaustion of selling pressure. Turnover diverged from price after the 0.355 level, indicating possible accumulation by larger players.

Fibonacci Retracements

Fibonacci retracement levels from the 0.3499–0.3699 swing are providing structure. Price found resistance at the 61.8% level (0.361) before falling to the 38.2% level (0.357). A retest of 0.357 could signal a bounce or further weakness depending on volume and MACD confirmation.

Axelar may test 0.354–0.356 for support in the next 24 hours, with a potential bounce toward 0.360 if volume picks up. However, a break below 0.350 could accelerate the bearish trend. Investors should remain cautious as volatility remains elevated and momentum signals mixed.