Market Overview for Across Protocol/Tether (ACXUSDT) - 24-Hour Summary

Summary
• ACXUSDT fell from $0.0647 to $0.0595 within 24 hours, with bearish momentum intensifying after 21:00 ET.
• High volatility noted around 23:00 ET and early 05:00 ET, with RSI dipping into oversold territory.
• Volume surged at 00:00 ET and again at 14:45 ET, but price failed to follow through on either rally.
• Bollinger Bands show a contraction during the 03:00–06:00 ET window, followed by a sharp break to the downside.
• Key support levels identified at $0.0600 and $0.0595, both repeatedly tested but not held.

Across Protocol/Tether (ACXUSDT) opened at $0.0621 on 2025-11-03 at 12:00 ET, reached a high of $0.0647, dropped to a low of $0.0595, and closed at $0.0607 as of 12:00 ET on 2025-11-04. The 24-hour volume amounted to 31,186,349.06 and turnover was $1,923,019.14. The pair showed a volatile bearish bias with key resistance and support levels active throughout.

Structure & Formations

Price action on ACXUSDT featured multiple bearish formations throughout the 24-hour period, including several shooting stars and bearish engulfing patterns. The most notable resistance was identified around $0.0625, which was tested five times but repeatedly failed. A key support level was found near $0.0600, which saw strong buying pressure twice, though it eventually broke by the end of the session. A sharp breakdown from $0.0637 to $0.0607 occurred between 21:00 and 03:00 ET, indicating a loss of bullish conviction.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into the bearish zone late in the session, with the price firmly below both. This confirmed a short-term bearish bias. The daily timeframe showed the price below the 50, 100, and 200-period moving averages, indicating an extended downtrend and lack of bullish momentum.

MACD & RSI

The MACD turned negative during the 00:00–02:00 ET window, confirming the bearish momentum. It remained below the signal line for the rest of the session, signaling continued bearish pressure. The RSI dipped below 30 at 04:30 ET and again at 06:30 ET, indicating oversold conditions, but no meaningful reversal followed, suggesting sellers remained in control.

Bollinger Bands

Volatility was observed to contract between 03:00 and 06:00 ET, with price trading within a narrow Bollinger Band range. This was followed by a sharp breakout to the downside, confirming a bearish continuation. The price closed near the lower band at $0.0607, indicating potential for further downward movement if support at $0.0600 breaks.

Volume & Turnover

Volume spiked significantly at 00:00 ET and again at 14:45 ET, but the price failed to form a strong rally after these surges, signaling a bearish divergence. Total volume of 31,186,349.06 was distributed unevenly, with the largest spikes occurring during the 00:00–03:00 ET and 14:45–15:00 ET windows. Notional turnover of $1,923,019.14 was concentrated during these periods, reinforcing the bearish sentiment.

Fibonacci Retracements

Applying Fibonacci retracements to the major swing from $0.0647 to $0.0607, price tested the 61.8% level at $0.0625 twice without a successful rebound. The 38.2% retracement at $0.0634 was also a key resistance level that failed to hold. These levels indicate a strong bearish bias, with the 61.8% retracement likely to be the next target if the trend continues.

Backtest Hypothesis

To test potential short-term strategies, a backtest can be run using the identified 15-minute swing lows as dynamic support levels. A common approach is to enter a long position when a bullish engulfing pattern forms near a 20-period swing low, with a stop loss just below the pattern’s low. Conversely, a short position can be entered on bearish engulfing patterns near a 20-period swing high. Given the bearish bias observed in ACXUSDT, a short strategy triggered by bearish engulfing patterns near $0.0625 could be effective. This would align with the RSI and MACD signals and the recent failure at key support levels.