The recent surge in AXL/USDT can be attributed to several technical and market factors. One significant reason is that $AXL recently broke out of a descending channel pattern on the daily chart, a bullish reversal signal that has attracted traders. This technical breakout usually signals potential upward momentum, and the price targets following the breakout were set around $0.78, $0.88, and even higher levels like $1.28.
Additionally, broader market conditions have been favorable, contributing to increased trading volume and price activity. This movement seems to have been supported by a larger interest in altcoins in recent days, as seen across the crypto market.
Traders are also seeing strong buying signals based on demand zone formations and divergence patterns on shorter timeframes, which have likely helped fuel the rally.
