Market Overview for Axie Infinity/Tether (AXSUSDT) on 2026-01-07

Summary
• Price action showed a bearish reversal at 1.004, with a retest failing to break above key resistance.
• Volume spiked during the early morning rebound but failed to confirm a bullish breakout.
• RSI entered overbought territory mid-day but has since corrected to neutral levels.
• Bollinger Bands widened during the 0.945-1.004 swing, suggesting increasing volatility.
• Fibonacci levels at 0.976 and 0.989 acted as dynamic support and resistance during consolidation.

At 12:00 ET on 2026-01-07, Axie Infinity/Tether (AXSUSDT) opened at 0.971, reached a high of 1.004, touched a low of 0.945, and closed at 0.946. Total volume for the 24-hour window was 2,585,386.05, with a notional turnover of $247,670.62.

Structure & Key Levels

Price formed a bearish engulfing pattern at 1.004, followed by a failed retest. A critical support level emerged near 0.976, which was tested multiple times and held until late afternoon. The 0.945 level acted as a temporary floor, with price bouncing back during the 14:45–15:00 ET period.

Technical Indicators

MACD showed bearish divergence during the mid-day rally, indicating weakening bullish momentum. RSI peaked at 74 mid-day but pulled back to neutral territory by close. Bollinger Bands expanded during the 0.945–1.004 swing, highlighting a period of increased volatility.

Volume and Turnover Analysis

Volume surged during the 0.971–1.004 rally but declined sharply during the bearish move from 1.004 to 0.945. The highest notional turnover occurred around the 1.004 high and during the 0.945 support test. A volume-Price divergence near 0.971 suggests bearish pressure may continue.

Fibonacci and Future Outlook

Fibonacci retracement levels at 0.976 (38.2%) and 0.989 (61.8%) acted as key support and resistance. If price breaks below 0.945, 0.942 could become the next target. A rebound above 0.976 could rekindle bullish sentiment, but bearish momentum appears to dominate.

Traders may watch for a break of either 0.945 or 0.976 to confirm the next directional move. As always, sudden news or broader market shifts could amplify volatility and risk.