Market Overview: Across Protocol/Tether (ACXUSDT) – Sharp Correction Amid High Volume

• Price fell 8.37% in 24 hours, breaking below key 0.1285 support on heavy volume.
• MACD turned bearish, RSI hit oversold territory at 28, signaling potential bounce.
• Volatility surged as price plunged 2.5% in one 15-minute candle.
• Bollinger Bands show price near lower band, suggesting short-term rebound potential.
• Large 688,534.1 turnover in last 24 hours highlights significant liquidity shift.

The 24-hour session for Across Protocol/Tether (ACXUSDT) opened at 0.1288 at 12:00 ET–1 and closed at 0.1144 by 12:00 ET today. Price hit a high of 0.1303 and a low of 0.1106, marking a significant 8.37% decline. Total volume reached 10.3 million contracts, while total turnover amounted to 688,534.1, reflecting heightened activity amid bearish momentum.

Structure & Formations

Price action formed a series of bearish continuation patterns, including a long lower shadow in the early hours and a large bearish engulfing candle at 06:15 ET. A key support level at 0.1285 was broken, with price failing to reclaim it, indicating growing bearish sentiment. The session’s 15-minute OHLCV data reveals a breakdown of previous consolidation, with price now trading below 0.1241, a level that could host a potential short-term rebound.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending downward, with price sitting well below both. On the daily chart, the 50/100/200 EMA cluster is also bearish, with ACXUSDT trading below the 200 EMA for the first time in several weeks. This alignment suggests a medium-term bearish bias, though short-term bounces from key Fibonacci levels may offer entry points for cautious longs.

MACD & RSI

The MACD crossed below the signal line in the early hours, confirming a bearish divergence. RSI dipped into oversold territory at 28, indicating that the selloff may be nearing a near-term pause. However, the slow RSI remains bearish, suggesting that momentum is still in favor of the sellers. A reversal would require a sustained move above the 0.1180–0.1185 range to retrigger bullish momentum indicators.

Bollinger Bands

Price touched the lower Bollinger Band at 0.1106, a level it has not seen in several days. The bands themselves have widened significantly from a prior contraction, signaling an increase in volatility. The current price of 0.1144 sits within the lower half of the bands, which may encourage traders to look for a mean reversion trade back toward the 0.1180–0.1185 mid-band zone.

Volume & Turnover

Volume spiked in the late hours, particularly at 06:15 ET, with a single candle printing 2.4 million contracts traded and 242,795.4 in turnover. This massive volume coincided with a 2.5% drop in price, signaling exhaustion in the short-term bearish move. Notional turnover also surged, with the 06:15–06:30 window accounting for over 30% of total turnover. The divergence between price and volume is a key signal to watch for a possible bounce.

Fibonacci Retracements

On the 15-minute chart, the 0.1293–0.1106 swing has defined key Fibonacci levels, with 0.1180 at 38.2% and 0.1164 at 61.8%. The 0.1164 level has shown previous support and may host a temporary pause. On the daily chart, the 0.1180–0.1164 zone aligns with 38.2% and 50% retracements from the recent high of 0.1303, making it a potential area for a near-term rebound.

Backtest Hypothesis

A potential backtesting strategy could focus on short-term rebounds from the 0.1180–0.1185 area, using a 15-minute RSI crossing above 40 and a bullish engulfing candle as a trigger. Stops could be placed below 0.1164, with a target at 0.1195. Given the recent volume surge and RSI oversold condition, this could be an effective setup for a mean reversion trade in a bearish trend.