$AXL /USDT TECHNICAL ANALYSIS - MARKET STABLE WITH SLIGHT BULLISH MOMENTUM
The $AXL /USDT pair is currently trading at $0.4187, up by 0.36% in the last 24 hours. The pair has experienced a high of $0.4773 and a low of $0.3992, showcasing moderate price movement within the 24-hour period. With a total trading volume of 35.56M $AXL and 15.52M USDT, liquidity remains stable in the market.
Key levels to watch:
Support Level: $0.4129 (SAR indicator)
Resistance Level: $0.4540
The current price of $0.4187 indicates a slight bullish sentiment after the price bounced off the support level at $0.4129. If the price breaks through the resistance at $0.4540, we could see a continuation of the bullish trend.
On the shorter-term charts (15-minute to 1-hour), the market shows signs of minor upward movement, but it is still trading within a range. A breakout above $0.4540 could indicate stronger bullish momentum, while a drop below $0.4129 may signal a potential retracement.
Strategy:
Bullish outlook: Watch for a breakout above $0.4540 to confirm further upward momentum.
Bearish reversal: A fall below $0.4129 could suggest a short-term bearish pullback.
Traders should be prepared for both scenarios and adjust their positions accordingly based on the key levels mentioned.