Axelar (AXL) is currently trading at $0.289448, reflecting a 24-hour change of -1.17%. The daily price has oscillated between a high of $0.296199 and a low of $0.28472, indicating a narrow daily range of approximately 1.1%, which suggests limited volatility in recent trading sessions.

The volume of 5,593,618 translates to a volume-to-market cap ratio of 2.05%, indicating moderate trading activity relative to its market capitalization. The hourly moving averages show a slight downward trend, with the 8 SMA at $0.2923 and the 144 SMA at $0.3030 reflecting a significant 4.47% decline, pointing towards bearish momentum in the short term.

The relative strength index (RSI) on an hourly basis stands at 51, suggesting a neutral position, while the 7-day RSI at 44 indicates it is approaching oversold territory. The 7-day price change of -7.57% and the more pronounced 30-day drop of -27.07% highlight a consistent downtrend over the past month, further confirming bearish sentiment.

Historically, Axelar reached an all-time high of $2.64 earlier this year, representing a substantial decline from its current price. This dramatic reduction indicates significant bearish pressure and a potential loss of investor confidence, as the price is currently 89% below its peak.

Given the negative momentum across multiple time frames, combined with the recent price action and technical indicators, the outlook for AXL remains weak. The presence of a declining volume-to-market cap ratio further supports the view that buying interest is waning.

In conclusion, based on the technical analysis and current market conditions, a Sell rating is warranted for Axelar (AXL) at this time. The bearish trend and lack of significant buying signals suggest that holding or accumulating at this level is not advisable until a clearer reversal signal emerges.