Market Overview for Axelar (AXLUSDT) on 2025-07-29

• AXLUSDT traded in a narrow range for most of the 24 hours, with a late-night pullback to 0.3738.
• A key 15-minute bearish engulfing pattern formed at 0.3835–0.3745, signaling short-term weakness.
• Volume spiked during the 00:45 ET candle as price dropped to 0.3745, confirming bearish sentiment.
• RSI approached oversold territory near 0.3738, suggesting potential for a near-term bounce.
• Bollinger Bands showed a moderate expansion, indicating increased short-term volatility.

At 12:00 ET on 2025-07-29, Axelar (AXLUSDT) opened at 0.3893, reached a high of 0.3921, a low of 0.3677, and closed at 0.3726. Total volume was 5,644,270.94, and notional turnover was approximately $2,106,000 (calculated from the sum of volume × close prices).

Structure & Formations

The 24-hour period featured a bearish consolidation with a key breakdown occurring in the early morning hours. A bearish engulfing pattern emerged at 0.3835–0.3745, confirming downward momentum. A potential support zone formed around 0.3735–0.3750, where a 15-minute candle gapped down to 0.3738 and found temporary stability.

Moving Averages

On the 15-minute chart, the price closed below the 20-period and 50-period moving averages, reinforcing bearish bias. The 50-period MA was at ~0.3835, while the 20-period MA hovered near 0.3850. On the daily chart, AXLUSDT closed below the 50- and 100-period MAs, suggesting continued bearish pressure.

MACD & RSI

The MACD showed a bearish crossover in the early hours, with the histogram shrinking slightly as price stabilized near 0.3738. RSI reached 30, indicating oversold conditions, but failed to trigger a strong rebound. This suggests that while short-term momentum is weak, further downside could be limited unless volume dries up.

Bollinger Bands

Bollinger Bands expanded moderately after the breakdown, with the price closing near the lower band at 0.3738. This suggests increased volatility and potential for a bounce or a continuation of the downtrend. A sustained close above the middle band could indicate a short-term reversal.

Volume & Turnover

Volume spiked significantly during the 00:45 ET candle, as price dropped to 0.3745. This confirmed bearish conviction. However, volume declined afterward, indicating a potential exhaustion of downward momentum. The total notional turnover was highest during the 00:45–02:00 ET period, aligning with the price decline.

Fibonacci Retracements

Applying Fibonacci retracement to the 0.3738–0.3865 swing, key levels include 0.3812 (23.6%), 0.3793 (38.2%), and 0.3774 (50%). A break below 0.3738 would target 0.3717 (61.8%) as the next key level to watch.

Looking ahead, AXLUSDT may test the 0.3735–0.3750 support zone for stability. A rebound above 0.3790 could signal a short-term recovery, but a break below 0.3717 may extend the bearish bias. Investors should remain cautious as volatility and momentum indicators suggest a high-risk environment for the next 24 hours.