Axelar Price Prediction: AXL Gives Up 1% – Is Crypto World Taking Notice?

Updated: 22 August 2023

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The recent crypto market price drop affected most cryptocurrencies, including lower-ranking tokens such as Axelar (AXL).

The project claims to deliver secure cross-chain communication for Web3, offering a decentralized network and tools for developing dApps, but with seamless cross-chain touch through its protocol suite, APIs, and means the web provides.

The token moved between three levels in the final week of July. In late July, its price fluctuated between $0.40 and $0.41, which acted as its primary support and resistance, respectively.

However, around the beginning of August, the project broke the support at $0.40, turning this level into a new, strong resistance. Instead, it found support at $0.39.

The new support needed to be stronger, and AXL kept trying to break it, fueled by the bearish influence, while each attempt to reach the resistance at $0.40 was met with less and less force.

The support broke around August 10, although the price remained near the $0.39 level. Meanwhile, its new support was $0.375, while $0.390 became a further resistance.

The price fluctuated around August 17, when Bitcoin started shaking the market with more substantial changes, eventually bringing its value to $26k.

Meanwhile, AXL first surged back to $0.385, making several attempts to breach this level. After being unsuccessful, it dropped to $0.367, only to rush back to $0.380.

Over the weekend, the cryptocurrency went between $0.370 and $0.375, only to start another sharp drop come Monday, which left it between $0.360 and $0.365.

At the time of writing, the token sits at $0.361, seemingly fluctuating back up toward a resistance at $0.365.

Axelar to Develop Web3 Services with Microsoft Azure

The cross-chain protocol announced plans last month to build a blockchain-based tool that would allow businesses and individuals to connect with dApps using Microsoft’s Azure cloud platform easily.

This development could significantly contribute to AXL’s future increase in demand and, consequentially, value.

According to Axelar’s representative, the current market can only offer limited options for developers and organizers who seek to enable one-click user interoperability across multiple blockchain systems.

In partnership with Azure, Axelar could allow developers to access its blockchain tools, which connect dApps to various networks, services, and other developer tools. As a result, developers would be able to integrate applications regardless of the blockchain or database that hosts them.

🔥@axelarcore and @Microsoft announced a partnership to bridge public and private #blockchains.

The collaboration will see #Axelar joining Microsoft’s Azure marketplace🚀$AXL, Axelar's native #Crypto, pumped more than 20% after the announcement📈 pic.twitter.com/eVac7svwRd

— Satoshi Talks (@Satoshi_Talks) July 11, 2023

yPredict Presale Reaches $3.5 Million Raised

While Axelar price is decreasing, many are looking for an alternative. The safest and most popular options now are tokens in the middle of their respective presales. One of the most technologically capable right now is yPredict (YPRED).

This is a native cryptocurrency of the yPredict platform — an all-in-one AI ecosystem created for analysts, developers, and traders.

The platform was designed for anyone using AI-created trading signals, chart pattern recognition capabilities, fundamental and technical analysis, and more.

Its selling point is the speed and accuracy at which AI can detect and highlight these often subtle signals for traders.

It could benefit those new to trading who need help picking up on more discreet market movements, patterns, and signals.

As for its presale, it recently entered Stage 7, and the project managed to raise $3.55 million, selling its token, YPRED, for $0.1.

Meanwhile, the token’s listing price is set to be $0.12, so there is value in buying it before it hits the exchanges. Anyone purchasing the token can use ETH, BNB, USDT, MATIC, or via credit or debit card.

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