Coinbase Lists Axelar (AXL) for Trading in New York
- Compliant Trading Channel: Coinbase has listed Axelar's native token $AXL for trading in New York, providing a compliant route for local traders to access the token, breaking previous limitations of decentralized exchanges and enhancing market compliance and transparency.
- Market Potential: As a cross-chain communication protocol, Axelar enables interaction across different blockchain networks, with its native token $AXL used for transaction fees, governance, and staking; currently valued at approximately $67 million, it has fallen 97% from its all-time high of $2.64, but the new listing may attract investor interest for potential recovery.
- Regulatory Environment: Coinbase has held a BitLicense from the New York State Department of Financial Services since 2017, ensuring its operations within a strict regulatory framework, allowing it to list a range of digital assets and enhancing its position in the competitive crypto market.
- Industry Trend: The listing reflects growing institutional and retail interest in interoperability infrastructure, as developers and users increasingly demand seamless functionality across blockchain applications, suggesting that Axelar's entry could spur the development of similar projects and foster innovation and collaboration across the industry.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AXL
Technical Sentiment Analysis for Axelar (AXL). As of , Axelar (AXL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AXL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AXL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Axelar (AXL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0438 | 0.0492 | 0.0538 | 0.0592 | 0.0638 | 0.0692 | 0.0738 |
| Fibonacci | 0.0492 | 0.053 | 0.0554 | 0.0592 | 0.063 | 0.0654 | 0.0692 |
About AXL
About the author
