Market Overview for Across Protocol/Tether (ACXUSDT)

Summary
• Price tested key resistance at 0.0541 but failed to break through, forming a bearish engulfing pattern.
• High volume and turnover spikes occurred during a steep drop to 0.0519, signaling significant bear pressure.
• RSI entered oversold territory briefly, but price failed to rebound meaningfully.
• Bollinger Bands showed a period of contraction before a sharp expansion, indicating heightened volatility.
• A large bearish candle at 05:15 ET marked a 6.4% drop, breaking below 0.0525 support.

At 12:00 ET on 2026-01-08, Across Protocol/Tether (ACXUSDT) opened at 0.0535, reached a high of 0.0541, a low of 0.0504, and closed at 0.0505. The 24-hour volume totaled 2,806,139.5 units, with a notional turnover of 145,784.4 USDT.

Structure & Formations

Price faced repeated rejection at the 0.0541 resistance level, most notably at 19:00 and 19:15 ET, where bullish attempts failed to hold. A bearish engulfing pattern emerged after a sharp decline at 05:15 ET, confirming a shift in momentum. A doji at 03:00 ET hinted at indecision, while the large bearish candle at 05:15 ET marked a breakdown below key support at 0.0525, accelerating the move lower.

MACD & RSI

The 12/26/9 MACD line turned negative and maintained bearish momentum, confirming the downward bias. RSI dropped into oversold territory briefly below 30 but did not trigger a strong reversal. Divergence between price and RSI suggests weak conviction in the bearish trend.

Bollinger Bands

The price remained outside the Bollinger Bands for most of the session, indicating high volatility. A contraction phase between 01:15 ET and 04:30 ET preceded a sharp expansion, reinforcing the likelihood of a continuation pattern.

Volume & Turnover

Volume surged during the sharp drop at 05:15 ET, with a turnover of 108,282.7 USDT in that candle alone. The large volume spike confirmed the bearish move, while the low volume during the consolidation phase suggested lack of buying interest. A divergence between price and turnover emerged after 06:30 ET, suggesting waning bear pressure.

Fibonacci Retracements

Applying Fibonacci to the 0.0504–0.0541 swing, the 50% and 61.8% levels are at 0.05225 and 0.0519, respectively. The price briefly rebounded near 0.0519, suggesting a potential short-term support level.

The market appears to be consolidating around the 0.0507–0.0515 range, with key support at 0.0507 and resistance at 0.0516. A break above 0.0522 could signal a test of the 0.0525 resistance, but further confirmation is needed. Investors should remain cautious of potential volatility and bear pressure in the next 24 hours.