The Axelar (AXL) token experienced a remarkable surge of over 60% in just one day following its listing on Upbit, South Korea’s leading cryptocurrency exchange. Trading commenced on June 10th at 07:00 UTC, with traders actively exchanging AXL against both Korean Won (KRW) and Tether (USDT). This rapid price increase quickly propelled AXL to $0.58. AXL had been struggling in a downtrend for months before the listing, trapped within a descending wedge pattern. However, the listing broke this pattern, leading to a positive price trajectory, with trading volume surging from $18.65 million to an impressive $366.43 million in just 24 hours – a dramatic increase of 6101%. AXL’s market cap also jumped past $500 million, catapulting it to the 114th-largest crypto by size. The price surge was triggered almost instantly with a 65% jump following the listing announcement, reaching $0.55 in an explosive flash. Santiment data reveals a massive spike in Price Daily Active Addresses (DAA) of 924.29%, indicating heightened activity surrounding AXL, which may be linked to the listing. Further technical indicators from TradingView show a bullish signal as the Moving Average Convergence Divergence (MACD) crossed above zero, signifying a market takeover by bulls. The Relative Strength Index (RSI) on the daily timeframe stands at 79, suggesting potential for short-term price retracement before a renewed rally. If the bull trend continues, AXL may target $0.61 as its next resistance level, potentially reaching $0.82 based on the 0.382 Fibonacci retracement level. However, if buying pressure subsides, the AXL token could retreat to support levels around $0.46 or even $0.30 in a more bearish scenario.