AXL/USDT pair on a daily timeframe (1D). The current price is $0.9205, with a recent gain of +7.33%. Let's break this down:
### SMC (Smart Money Concepts):
1. Price Action Structure: The price previously dropped sharply and has been consolidating since. It now shows an upward momentum but is facing a resistance level.
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2. Supply and Demand Zones:
 - Supply Zone (Resistance): The area around $1.0134 appears to be a strong resistance, as indicated by the red trendline and previous price rejections in this zone.
  - Demand Zone (Support): The price has established a higher support zone around $0.8228, where buyers stepped in to push the price upward.
### Support and Resistance:
- Resistance: $1.0134 (strong resistance from prior rejection points and market sentiment).
- Support: $0.8228 (previous low where demand re-entered).
## Next Move Analysis:
- Scenario 1 (Bullish): If the price manages to break above the $1.0134 resistance level, it could retest this area as support before continuing its upward trend. A break of this level might open the path for higher targets.
- Scenario 2 (Bearish): If the price gets rejected at this resistance level, it could retrace back to the $0.9182 support, or further down to $0.8228.
Volume indicators show that interest is still present, which could influence the strength of the breakout or breakdown.
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