Axelar Price Analysis – AXL soars 7% as Bulls Target $0.44 in the Short Term

Highlights:

• Axelar price shows strong bullish momentum, as it surges 7% to $0.38.
• A crypto analyst has eyes further upside towards $0.94, as Bitcoin price breaks above $95K.
• CoinGlass data bolsters the bullish outlook as open interest and volume surge by 35% and 419%, respectively.

The Axelar price has successfully exceeded the descending parallel channel, currently up 7% to $0.39. The recent AXL token performance indicates a potential upward trajectory if the bulls dominate. The rising daily trading volume notably bolsters the bullish outlook, increasing over 220% to $27.4M. This sudden rise signals heightened investor confidence as market activities surge. 

As the crypto market records gains, led by Bitcoin, which has broken above the $95K mark, other tokens such as AXL align with the momentum. According to Decilizer, ‘’Axelar price is moving ahead after confirming the firm at $0.3, setting sights on $0.94.’’ As the momentum builds, traders and investors should align strategically to maximize gains.

$AXL is moving ahead after confirming the firm at $0.3, setting sights on $0.94. Bitcoin’s rally fuels this move, making $BTC dominance a key factor. Traders should align entries strategically to maximize gains as momentum builds. https://t.co/8agXcYCctm

— Decilizer (@decilizer) April 30, 2025

Meanwhile, the Axelar daily chart price outlook shows a bullish stance, as the bulls have flipped above the $0.35 resistance. The 50-day MA, which aligns with the current support level, may give the bulls the hind wings for further upside, targeting $0.44 immediate resistance. Increased buying pressure may call for a further leg up towards the 200-day MA at $0.59. 

Axelar Technical Outlook

The Axelar Relative Strength Index has crossed above the 50-mean level, currently sitting at 64.26. This shows that the buying frenzy is intense in the Axelar market, bolstering the bullish signal. Moreover, the AXL token still has more room for the upside before it is considered overbought.

The Moving Average Convergence Divergence (MACD) indicates a strong bullish sentiment. This is manifested as the blue MACD line has crossed above the orange line, calling for traders to buy more AXL. 

With the robust bullish sentiment in the market, Axelar’s price is poised for further upside, potentially reaching the $0.44 mark or higher. On the flip side, investors and traders may start shorting AXL as they book their profits. This may cause a slight correction in Axelar price, forcing the token into consolidation or further downside. In such a case, the $0.35 support area will be the first safety net for the Axelar price. Intense selling appetite will invalidate the bullish case, causing further downside towards $0.31, $0.29, and $0.24. 

Axelar Derivatives Data Outlook

As the crypto market shows intense strength with Bitcoin breaking above $95K, Axelar token also shows some upward movement, thanks to the robust market activities. According to CoinGlass data, the AXL token has seen a 35% increase in open interest to $16.10M. Notably, the volume has skyrocketed by 419% to $43M, indicating heightened investor confidence.

As the OI and volume surge, it is evident that new money is flowing into the Axelar market. This new money may trigger a sudden price surge towards the $0.44 mark. With that said, caution is required, as AXL long liquidations have surpassed short liquidations. This typically indicates that the bullish traders are forced to close their positions as the bears try to regain dominance.