$AXL /USDT SHOWING SHORT-TERM WEAKNESS AMID STRONG WEEKLY GAINS – POSSIBLE PULLBACK OR CONSOLIDATION AHEAD
$AXL /USDT pair is currently trading at $0.4869, marking a sharp 11.05% intraday decline, signaling a short-term correction after an impressive 45.97% gain over the past 7 days. This steep drop indicates profit-taking pressure near the recent 24h high of $0.5476.
Key Technical Levels:
Resistance: $0.5200 – $0.5476
Support: $0.4737 (24h low), followed by psychological support near $0.4500
Trend Context:
1H Trend: Bearish (due to strong hourly red candle and lower highs)
4H Trend: Still in uptrend structure but showing early signs of exhaustion
Daily Trend: Bullish, but encountering resistance and volatility
Momentum Indicators:
RSI (1H): Likely dipping into oversold territory, suggesting a potential bounce or sideways move.
Volume Spike: With 50.39M AXL traded in 24h, the high volume confirms strong selling pressure but also interest, which could fuel a technical rebound.
Market Outlook:
Given the sharp intraday fall, the market may enter a cool-off phase, either through sideways consolidation or a short-term pullback toward the $0.45–$0.47 zone before possibly resuming its broader uptrend. If the price holds above $0.47 and recaptures $0.50 quickly, bulls may regain control.
Caution is advised for intraday entries—wait for signs of stabilization or bullish confirmation on lower timeframes before re-entry.
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