Market Overview for Axie Infinity/Tether (AXSUSDT)

Summary
• Price consolidates between $0.895 and $0.914, with recent bearish divergence in momentum.
• Volatility peaks early in the session, followed by a pullback and fading volume.
• RSI shows oversold conditions near $0.895 but lacks follow-through buying.
• Key support at $0.904 and resistance at $0.914 may define near-term direction.

Axie Infinity/Tether (AXSUSDT) opened at $0.910 and closed at $0.911 after 24 hours, reaching a high of $0.934 and a low of $0.890. Total volume was 736,913.18 AXS, with $661,947.57 in turnover.

Structure & Formations

Price action formed a bearish consolidation pattern after an initial morning rally, with key support forming at $0.904 and resistance at $0.914. A long-bodied candle on the 5-minute chart at $0.934–$0.928 signaled potential exhaustion in the short-term rally. A doji near $0.913 later in the session suggests indecision and potential reversal risk.

Moving Averages and Momentum

On the 5-minute chart, the 20-period and 50-period moving averages crossed bearishly in the afternoon, aligning with a pullback from the $0.934 high. The 50-period MA currently sits at $0.910, slightly above the 20-period MA at $0.909, suggesting a weakening bullish bias. The MACD crossed into negative territory after 07:00 ET, with bearish divergence in the afternoon. RSI bottomed near 30 but failed to trigger a strong rebound, indicating possible bearish momentum.

Bollinger Bands and Volatility

Volatility expanded in the early hours with a wide range of $0.025 between the high of $0.934 and low of $0.909. By midday, the bands had contracted, signaling reduced volatility. Price remained near the upper band until the morning, then drifted toward the midline and lower band, suggesting a loss of directional clarity.

Volume and Turnover

Volume surged in the early hours with a large 5-minute candle at $0.934–$0.928, driven by 68,052.05 AXS traded. However, volume progressively declined in the afternoon, with the final hour showing minimal trading activity. Turnover mirrored volume, peaking at $33,716.25 during the morning rally. Divergence appears in volume and price action, with price rising on diminishing volume during the mid-morning rebound.

Fibonacci Retracements

A 5-minute swing from $0.909 to $0.934 shows the 0.618 level at $0.921 as a potential area of interest for support or re-entry. On the daily chart, the 0.382 level at $0.918 could act as a near-term resistance if buyers return.

Looking ahead, a break below $0.904 may test the next support at $0.896, but limited volume in the afternoon raises uncertainty about follow-through. Investors should remain cautious ahead of potential order flow triggers in the next 24 hours.