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Axelar/Tether

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WAXLUSDT trade ideas

AXL ROAD TO $4.8Axelar broke out with a massive candle (see 1) and peaked at $2.74 (see2) After such a move it had to come back and fuel up for the next leg up! It did that , beautifull retracement to 0.786 fib( My favorite dca zone) and even wicked to the 0.888 fib. while doing the latter it also turned previous resistance into support (S/R Flip) (see 3) Now it i has formed a beautifull inverted head and shoulders pattern that could take us to around $1.20 where we also come into previous resistance. Let see how this plays out. Not Financial Advise
Long
by cryptobosmans
Axelar (AXL)In red days of markets there are some projects that hold the line and goes up, one of them is AXL, Axelar delivers secure cross-chain communication. That means dApp users can interact with any asset, any application, on any chain, with one click. You can think of it as Stripe for Web3. Developers interact with a simple API on top of a permissionless network that routes messages and ensures network security via proof-of-stake consensus. Axelar goes far beyond sending wrapped assets with General Message Passing, which carries any payload securely cross-chain. Applications can call any function on any connected chain, and deliver a one-click experience for users on any other connected chain. This is a new kind of dApp development that puts users first and lets developers build on the platform best suited to their use case. tp 1.1 , 1.5 , 2.9 sl 0.8 , 0.75
Long
by moonypto
9
Analysis of WXAL/Tether Pair on Gate.io (1D Timeframe)The chart presents the price evolution of WXAL against Tether on the Gate.io exchange platform, observed on a daily timeframe. Observations: WXAL saw a robust rally previously, achieving an all-time high close to the $1.15 mark, after which a notable correction ensued, bringing the price down to the lows around $0.3104. Fibonacci retracement levels are visibly marked, suggesting areas of potential resistance and support. The current price is hovering near the 0.236 level, approximately at $0.4667. The asset seems to be in a downward trajectory, as demonstrated by the descending trendline. A significant bullish signal would entail a clear breakout above this trendline. The Relative Strength Index (RSI) is in the neutral zone but shows a slight upward tendency, while the Moving Average Convergence Divergence (MACD) illustrates a bullish crossover, signaling potential upside momentum. Short-Term (Scalp) Targets: The immediate resistance is observed at the 0.236 Fibonacci level ($0.4667). Should the price surpass this, it could then target the 0.382 level ($0.5442), followed by the 0.5 level ($0.6151). Long-Term Targets: For a robust bullish trend to be confirmed, the asset would need to break past its previous all-time high near $1.15. Beyond this peak, potential new ATH targets using extended Fibonacci levels could be: 1.618 level, which might set the price around the $1.80 range. 2.618 level could elevate it to approximately $2.50. 3.618 level might position it closer to $3.20. A sustained move above the descending trendline and a consistent stay above defined Fibonacci levels would hint towards these potential new ATHs. Conclusion: Investors and traders are advised to seek confirmation from both price action and technical indicators before making any financial decisions. Utilizing stop-loss measures to mitigate potential risks remains crucial.
Long
by kargaa
Holding and waiting Axelar and Polygon Supernets Team Up to Provide Cross-Chain Interoperability This will allow developers to build their applications across multiple blockchains The Axelar/Polygon partnership “enables complex operations – for example, cross-chain borrow-lend, using NFTs as collateral,” said Parth Pathak, general manager of supernets at Polygon, in a statement to CoinDesk, referring to non-fungible tokens. The goal for interoperability projects like Axelar is to “allow developers to build anywhere they want and still be connected to everyone else,” Axelar co-founder Sergey Gorbunov told CoinDesk. “So that's really the opportunity that we’re creating for the supernets and just the broader ecosystem.” Axelar, which was created by the founding members behind the Algorand blockchain, is a network that gives users tools to connect their digital assets and dapps across multiple blockchains to unlock cross-chain communication. The company’s partnership with Polygon’s supernets will thus offer interoperability with other blockchains. Polygon’s supernets are fairly new, with Polygon saying it would invest $100 million in them back in April. Avalanche also committed $290 million in March to develop its own version called “subnets.” This is a reposting from a previous chart that i accidently used with FTX. I probably confused many people if they were looking at my posting. I traded WAXL on gate.io but its also available on coinbase so i will do a double post for both. Looking good so far and i am still holding 10,000 tokens. This project has potential. The white lines on this chart are probable pivot locations for the future timeline. WAXL could consolidate for some time before finally breaking out so be prepared for that. So far i have a bullish holding position for WAXL only to hold .50 minimum for oversold and .60 for a buy price. good luck traders and i will update soon.
Long
by UnknownUnicorn35774657
1