Axelar Price Prediction: 2024, 2025, 2030

AXL price prediction: Key highlights

1. Primary support and resistance levels

• An analysis of the daily chart showcased the lowest support level to be at $0.89.
• The highest resistance level can be anticipated at $2.50.

2. Market sentiment

• The overall market sentiment for AXL is seen to be neutral to bearish in June 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms project that AXL can reach an average value of $40 by 2028 and further increase to more than $1,700 by 2033.

Given below is an extensive daily technical analysis of AXL, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

AXL technical analysis: Bulls persist against an unfavorable market 

This analysis report delves into AXL's recent trading behavior, focusing on its performance on the daily chart. It culminates in an Axelar price prediction for 2024. At the beginning of the analysis period, AXL remained under overwhelming bearish forces that caused the price to depreciate below $1.28.

Concurrently, the price fell to its lowest support of $0.89. This low represented a turning point as the asset recovered swiftly. This was spurred by an overselling condition in the market, which prompted a rebound above $1.01.

Thereafter, the token traded in a range-bound market. Rejections at $1.28 in late April and early May indicated strong resistance. Meanwhile, $1.01 acted as the lower support level, where the price found buying interest and bounced back up, overcoming the slight pushback at $1.12.

Nonetheless, bullish strength waned as the market turned red after the second rejection. By mid-May, the token returned to touch the lowest floor. Subsequent attempts to stabilize over $1.01 were spurred by undervaluation and lacked sufficient pressure. Thus, past patterns repeated themselves as the altcoin revisited $0.89.

Notably, towards the end of the month, bulls regrouped to initiate another rally that flipped $1.01 back into their favor. A retest of $1.12 was met with rejection. At press time, AXL exchanged hands at $1.02. 
 

These continued bullish attempts suggested that if the bullish momentum persists, AXL could realistically aim to reclaim and stabilize at the $1.12 level. Looking ahead, the potential for the token to overcome the $1.28 barrier hinges on sustained buying momentum. 

Surpassing this level could allow it to approach the critical $2.06 mark. Moreover, recurring bull runs can elevate the token to its highest resistance at $2.50, drawing it nearer to its previous all-time high (ATH). 

Conversely, if selling pressure intensifies, the asset could retract to its lowest support. This would dramatically alter market perceptions and potentially cement a bearish outlook.
 

Despite this possibility, our predictive models remain optimistic regarding the asset's future prospects. The models project that within the next four years, the asset’s average price could reach as high as $40, with further growth expected to propel the price to an astonishing $1,700 by 2033. Such predictions underscore a robust growth trajectory for the asset as it aims to achieve major milestones in the coming years.

AXL's 2024 roadmap: Key indicators to watch and trade

• The trading volume surged as the asset initially reached its lowest support level. Afterward, it remained subdued, with slight recoveries noted during price rallies.
• Buyers entered the market as the price fell to its lowest level again. Subsequently, the recent price recovery was supported by mirroring volume, suggesting a substantial investor presence in the market.
• The Relative Strength Index (RSI) started from the oversold region, signaling a potential bounce back. This materialized as the indicator continued to rise and touched the 50 line in early May.
• This was followed by another decline phase, which saw the indicator briefly return below 30 mid-month. The pattern of recovery was repeated when the RSI crossed the 50 line again later in the month before settling at 48.20 by the end of the analysis. This pointed to a slight balance of market forces.
• The On-Balance Volume (OBV) sharply declined at the outset and remained relatively flat in late April. This was followed by a short ascension, which was reversed swiftly.
• Another recovery was noted in late May, pushing the indicator to close at -61.946 million. This suggested a mild resurgence in buying interest or decreased selling pressure.