Axelar (AXL) is currently priced at $0.31998, reflecting a 24-hour decline of 4.03%. The daily trading range has been narrow, with a high of $0.33363 and a low of $0.31875, indicating weak volatility and a lack of strong market direction.

The trading volume stands at approximately $10.76 million, resulting in a volume-to-market cap ratio of 3.56%. This suggests moderate liquidity, although the recent negative price momentum may deter new buyers, as indicated by the 7-day RSI of 49 and the 1-hour RSI at a low of 29, which points to oversold conditions.

Moving averages are showing a downward trend, with the 8 SMA at $0.3222 down by 0.68%, and the 55 SMA at $0.3313 down by 3.42%. This consistent decline across shorter and longer moving averages reflects bearish sentiment and highlights potential resistance levels above the current price.

Over the past week, AXL has experienced an 8.31% decrease, while the 14-day change shows a more substantial decline of 15.98%. The 30-day price change also indicates a downturn of 8.73%, reinforcing the overall bearish trend in the market.

With the all-time high of $2.64 reached on March 1, 2024, AXL remains significantly below its peak, suggesting a potential undervaluation in a longer-term perspective. However, short-term indicators do not favor immediate bullish action due to current downward pressure and weak momentum.

In conclusion, while the long-term potential for Axelar remains promising, the present technical indicators and bearish momentum suggest a cautious approach. Therefore, the recommendation is to Hold at this time, monitoring for signs of reversal or stabilization before considering any bullish positions.