Market Overview for Axelar (AXLUSDT): August 15, 2025

• AXLUSDT formed a bearish engulfing pattern near $0.348 before declining to a 24-hour low of $0.3326.
• Volume spiked sharply during the downward leg, confirming bearish momentum with a total 24-hour turnover of $19.4 million.
• RSI reached oversold territory below 30, suggesting potential for a near-term bounce.
• Price traded below both 20- and 50-period moving averages on the 15-minute chart, indicating short-term weakness.
• Volatility widened as Bollinger Bands expanded after the key $0.340 support level was broken.

24-Hour Price and Trading Summary

Axelar (AXLUSDT) opened at $0.348 on August 14, 12:00 ET, and closed at $0.3277 on August 15, 12:00 ET, with a high of $0.3494 and a low of $0.3255. Total volume for the 24-hour period was ~3.14 million AXL, and notional turnover reached $19.4 million. The downward move was supported by a sharp increase in volume and a bearish momentum bias.

Structure & Formations

A bearish engulfing pattern emerged on the first 15-minute candle at $0.3481, signaling a potential reversal from bullish to bearish momentum. Price then broke below the key $0.340 psychological level, which acted as a prior support-turned-resistance. A strong bearish trend continued through the night, forming a descending channel that broke to new 24-hour lows at $0.3255. A potential short-term support appears forming in the $0.326–$0.327 range, with a Fibonacci 61.8% retracement level at $0.3315 offering a potential bounce zone.

Moving Averages

On the 15-minute chart, AXLUSDT closed well below both the 20- and 50-period moving averages, reinforcing the bearish bias. Daily moving averages are not available in the provided dataset, but the 50-period MA would likely be a critical level to monitor if the price attempts a reversal.

MACD & RSI

The 15-minute MACD line crossed below the signal line in early evening hours, confirming the bearish turn. RSI dropped into oversold territory below 30 by the end of the session, suggesting the risk of a short-term bounce or consolidation. However, overbought conditions are not currently in effect, indicating that the downward move has yet to lose steam.

Bollinger Bands

Volatility increased significantly as Bollinger Bands expanded during the sell-off. Price traded near the lower band for most of the session, reinforcing the bearish move. A contraction in band width may precede a potential reversal or continuation, depending on how the RSI and volume behave in the next 24 hours.

Volume & Turnover

Volume spiked sharply during the downward move, particularly between 14:30 and 16:00 ET, as the price broke below $0.335. This confirms strong bearish conviction among traders. Notional turnover mirrored volume activity, with large spikes coinciding with key support breaks. No significant divergence between price and volume was observed, suggesting bearish momentum is well supported.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.3494 to $0.3255, key levels are forming at 23.6% ($0.3397), 38.2% ($0.3369), and 61.8% ($0.3315). These levels may act as temporary bounces if the price stabilizes. On the daily chart, further data would be needed to determine major retracements, but the 61.8% retracement from the broader move could be a significant psychological level.

Axelar appears to be in a short-term bearish phase, with strong momentum pushing prices lower. While RSI indicates oversold conditions, the volume and price action suggest bears remain in control. A near-term bounce is possible, but traders should remain cautious and watch for any breakdowns below $0.325. As always, volatility and market sentiment could shift quickly in the crypto space, so a risk-averse approach is advised.