Alright, let's break down this $AXL chart.
Looking at the 1-hour here, definitely seeing some volatility. We had that big spike up to around 0.4196 on July 10th, but it quickly got rejected. That tells me there's some strong overhead resistance there.
Since then, we've been trending downwards, finding some temporary support around 0.3489. We saw a bounce off that area recently, pushing up towards 0.37, but again, sellers stepped in.
Volume on that initial spike was decent, but it's tapered off since then. We're currently sitting at 0.3555.
What's next? Well, that 0.3489 level is crucial. If it breaks, we could easily see a retest of lower lows, maybe even towards 0.33. If we manage to hold here and bounce, then a retest of 0.37 is on the cards. Need to see some real buying volume to push through that resistance though. Staying patient on this one.