Long

$AXL/USDT : Potential 5x growth

Updated

AXL is the native token of the Axelar network. The protocol also supports the cross-chain transfer of several native tokens via their wrapped ERC-20 versions, including AVAX (Avalanche), ETH (Ethereum), FTM (Fantom), GLMR (Moonbeam), and MATIC (Polygon).
Meanwhile, Axelar has raised capital from top-tier investors, including Binance, Coinbase Ventures, Dragonfly Capital, Polychain Capital and others.
Rank: #106
Mcap: 642m $
ATH: 2.66 $
ATL: 0.3136 $
Current price: 0.788 $
Team just announced TON x Axelar partnership. TON blockchain will integrate Axelar's Mobius Development Stack (MDS) as an interoperability layer, connecting the TON Ecosystem with new builders, users + liquidity

Trend:
For the past 70 days we had higher highs and higher lows. Since we had a long term downtrend before these HH & HLs plus increase in on balance volume (OBV) but price is still below a key S/R level, I consider this move as an accumulation period. Key level is at 0.8 ~0.88 $ which act as supply area now
Ichimoku:
Price crossed above the cloud for first time in W1 time frame less than a month ago. Base and conversion line targeted for the possible pull back and buying opportunity.
RSI:
Strongly high just below the overbought level. Bearish divergence in RSI in D1 is obvious that signs for a pullback in short term. In W1 yet RSI gaining momentum and far from being overbought. This accompanied with trend analysis signs for a good midterm bullish rally.
MAs:
W1: Price successfully claimed EMA20 (0.646$) and moves above it. Not tested it yet and pullback to this level is a buying opportunity. D1: Price Supported by EMA20 and EMA50 so far but EMA200 hasn’t claimed yet. After 4 attempt to break this level it seems weak and might break soon. This breakout is a sign for bullish run and might not give us the buying opportunity. Closing a D1 above 0.8 $ is the confirmation and buy call for me.

Wyckoff method:
We’ve already seen SC, Spring and LPs and in final steps we observed SOS at local highs and, so Backup around 0.7 $ is ideal for breakout of accumulation.

🛒 Pair: AXL/ USDT 🛒
👑 Bitcharge 👑
🕰 18/10/2024 🕰
POSITION : 🟢"Buy"🟢
2 % of capital
Ex: Binance, MEXC, KUCOIN,
🛒 Buy1: 0.65 – 0.70 🛒
🛒 Buy2: 0.60 🛒 DCA
👉Sell Targets👈
🎯TP1: 079 🥉
🎯TP2: 0.89 🥈
🎯TP3: 0.99 🥇
🎯TP4: 1.09 🚁
🎯TP5: 1.24 ✈️
🎯TP6: 1.34 🚀
🎯TP7: 1.49 🛰

⛔️ SL: 0.54 ⛔️ by closing D1 Below

This is my personal idea about this coin and it might be wrong. As always, please DYOR.

Trade active

Entry reached! 0.65$ buy triggered but my DCA on 0.6$ not filled.
we have our first target done.

bitcharger

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