Axelar is at a crossroads! ⚖️📉

Looking at AXL’s price action, we’re seeing a cautious phase with the token currently sitting at $0.5187. The chart shows some bearish pressure as it struggles to break above the 25-day moving average. The declining volume over recent sessions further suggests a lack of momentum, and the overhead resistance at the $0.55 zone could keep prices from pushing higher in the short term. 📊

While the price has stabilized, the overall trend remains bearish, with AXL unable to shake off the downward channel it's been trapped in since May. It would take a significant uptick in volume and a clear breakout above the moving averages to reverse the current trend. However, the sideways consolidation could signal that a larger move is brewing – either way, it's one to watch closely.

For now, traders should remain cautious, and if you’re thinking about entering, consider waiting for confirmation of a breakout or breakdown. Keep those stop-losses tight! 🔥💥

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