Axelar is the programmable Web3 interoperability platform, scaling the next generation of internet applications to billions of users. They are built on open-source cosmos technologies
Consensus Mechanism- DPOS
Block time finality- 6 seconds
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $1.9373
Kijun-Sen- $1.9373
AXLUSD was one of the best performers today.
Any daily close above $3 confirms further bullishness.
AXLUSD showed a massive jump of more than 45% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $2.31 and is currently trading around $2.028.
The bullish invalidation can happen if the pair closes below $1.45. On the lower side, the near-term support is $2. Any break below targets $1.45. significant downtrend if it breaks $0.85.
The immediate resistance stands at around $2.35. Any breach above confirms a minor pullback. A jump to $2.70/$3/$3.50 is possible. A surge past $4 will take it to $5.
It is good to buy on dips around $2 with SL around $1.40 for TP of $4.
