Market Overview for Axelar/Bitcoin (AXLBTC) – 2025-09-18

• Price rose from 2.71e-06 to 2.87e-06, with a bullish consolidation forming above 2.84e-06.
• Momentum improved, with RSI reaching 61 and MACD positive.
• Volatility expanded, as seen in Bollinger Band widening and heavy volume surges.
• Turnover spiked above 15,000 BTC-equivalent during late ET hours.
• A bullish engulfing pattern formed near 2.84e-06, hinting at short-term strength.

The Axelar/Bitcoin (AXLBTC) pair opened at 2.71e-06 on 2025-09-17 at 12:00 ET and closed at 2.87e-06 on 2025-09-18 at 12:00 ET. The 24-hour high reached 2.88e-06, while the low hit 2.7e-06. Total volume was 157,612 units, and notional turnover was approximately 449,054 BTC-equivalent.

The 24-hour chart shows a bullish trend with clear support at 2.7e-06 and resistance forming around 2.86e-06. On the 15-minute chart, 2.84e-06 acted as a pivotal support level, with a bullish engulfing pattern confirming a potential reversal after a dip. Resistance levels to watch include 2.86e-06 and 2.88e-06. A doji near 2.82e-06 suggests a temporary pause in upward momentum. The price is currently above both the 20- and 50-period moving averages, suggesting near-term bullish bias.

Moving Averages indicate a strong short-term uptrend. The 20-period MA is above the 50-period, with the price sitting comfortably above both. This alignment supports a bullish stance, though caution is warranted as the 50-period MA remains in a key resistance zone around 2.83e-06. On the daily chart, the 50/100/200 MAs are in a positive alignment, suggesting a longer-term trend remains intact.

MACD is positive and rising, indicating strengthening bullish momentum. RSI is in overbought territory at 61, but not extreme, suggesting the move may continue. However, divergence between RSI and price near 2.83e-06 hints at potential short-term exhaustion. Bollinger Bands have widened, showing increased volatility. The price is currently near the upper band, indicating a high-risk area for continuation of the current trend. A retest of the mid-band could signal consolidation or a pullback.

Volume spiked sharply in the 18:00–20:00 ET timeframe, coinciding with a sharp price increase. This confirms the bullish move rather than indicating divergence. The largest volume spike occurred at 2.84e-06 with 15,661 units, coinciding with a 2.84e-06 close. Turnover also surged during this period, validating the strength of the move.

Fibonacci retracements show that the 61.8% level at 2.85e-06 was briefly touched and bounced. This suggests a potential short-term target near 2.88e-06, the 78.6% level. However, 38.2% at 2.81e-06 remains a key support. On the daily chart, the 61.8% retracement of the recent leg-up is at 2.86e-06, aligning with current price resistance.

The pair appears to be in a bullish phase with multiple indicators supporting continuation of the current trend. A key test will be how price reacts to 2.86e-06 and 2.88e-06. If it holds above 2.84e-06, further gains are possible. A breakdown below 2.81e-06 could trigger a short-term correction. Traders should monitor volume and RSI for signs of exhaustion.

A backtesting strategy based on the above technical indicators could target entries at Fibonacci retracements with tight stop-losses below key support levels. A potential setup is long entries at 2.81e-06 with a stop-loss at 2.79e-06 and a target at 2.85e-06. The MACD and RSI would be used to confirm the momentum of the setup before entry.