$AXL has experienced a significant decline of 5.301% in the past 24 hours.
The price fluctuated between a high of 0.3381 and a low of 0.3192, with current support at 0.3192.
The Bollinger Bands indicate the potential for further volatility, with the upper band at 0.3361 and lower at 0.3223.
Given the overall downtrend, the strength of the bearish movement appears moderate.
Macroeconomic factors, such as inflation data and regulatory news, may continue to pressure cryptocurrencies.
Currently, Bitcoin's influence on AXL remains undetermined, though its volatility usually correlates with smaller altcoins.
Traders should consider a short-term approach due to the heightened uncertainty.
Key takeaway: Monitor economic indicators closely as they may play a crucial role in AXL's price recovery.
