Market Overview for Axie Infinity/Tether (AXSUSDT)

Summary
• Price tested 0.936–0.962 support/resistance cluster, forming bearish engulfing patterns near 0.954.
• RSI signaled overbought conditions above 0.96, followed by momentum reversal.
• Volatility expanded with a 0.936–0.972 range, peaking at 0.972 with high-volume consolidation.
• Bollinger Bands widened, suggesting increased uncertainty in trend direction.
• Notional turnover spiked 2–3x during key breakouts, confirming price action.

Axie Infinity/Tether (AXSUSDT) opened at 0.937, traded as low as 0.936, and hit a high of 0.972 before closing at 0.971. Total 24-hour volume amounted to 416,884.04 with a notional turnover of $392,183.22.

Structure & Formations

Price action showed bearish engulfing patterns near 0.954–0.958 and a bullish engulfing at 0.942–0.946, suggesting conflicting pressures. A doji at 0.951 and 0.946 indicated indecision, while key support at 0.936 held during early sell-offs, reinforcing its significance.

Moving Averages

On the 5-minute chart, price oscillated around the 20 and 50-period moving averages, with the 50-SMA crossing above the 20-SMA late in the session. This could signal short-term bullish momentum ahead, though daily 50/200-SMA divergence suggests a broader sideways trend.

MACD & RSI

RSI spiked into overbought territory above 0.96, then corrected into oversold levels near 0.942, confirming a bearish reversal. MACD showed a mixed signal, with a bullish crossover during the morning surge and bearish divergence in the afternoon sell-off.

Bollinger Bands

Volatility expanded significantly, with price reaching the upper band at 0.972 and briefly testing the lower band at 0.936. Price currently trades near the upper mid-band, suggesting continued risk of a pullback.

Volume & Turnover

Volume surged during key price swings, particularly between 0.942 and 0.972. Notional turnover peaked at 0.972, confirming the breakout. However, volume diverged with price near 0.946–0.951, hinting at possible exhaustion in the downward leg.

Fibonacci Retracements

Fib levels aligned with key 5-minute swings, with 0.954 (61.8%) acting as a dynamic pivot. The 0.942–0.972 range maps to 38.2–61.8% retracements from the 0.936–0.972 daily move, suggesting further consolidation or a reversal is likely.

Looking ahead, the next 24 hours may see price testing 0.972 for confirmation or a correction toward 0.942–0.946. Traders should remain cautious of breakouts failing due to high volatility and mixed momentum signals.