Market Overview for AdEx (ADXUSDT): Volatility Peaks Amid Key Resistance Rejection

• ADXUSDT formed a bullish engulfing pattern near $0.1408 and surged past $0.1465.
• Price retested $0.1455 multiple times, failing to confirm as a strong support.
• Momentum via RSI showed overbought conditions near $0.1465, followed by a bearish divergence.
• Volatility expanded during the day, with a peak turnover of $14.4M observed in early evening ET.
• Bollinger Bands widened, indicating increased uncertainty and potential for a breakout.

AdEx (ADXUSDT) opened at $0.1415 on 2025-08-22 at 12:00 ET and reached a high of $0.1465 before closing at $0.1437 at 12:00 ET on 2025-08-23. Total volume over 24 hours amounted to ~1.55M contracts, with notional turnover reaching $224.3K. Price action highlighted a key rejection at $0.1465 and a failed test of $0.1455 support, suggesting internal indecision.

Structure & Formations

A bullish engulfing pattern formed around 16:15 ET (0.1409 to 0.1436) marked the start of a sharp rally. The price then surged through $0.1465 but failed to sustain it, forming a bearish divergence. A doji near $0.1461 in early evening ET hinted at waning buying momentum. Key support levels are emerging at $0.1455, $0.1445, and $0.1435, while resistance remains clustered at $0.1465 and $0.1470.

Moving Averages

On the 15-minute chart, the 20-period MA acted as a dynamic support, while the 50-period MA served as resistance during the afternoon surge. The price spent most of the day above the 20 MA, indicating a short-term bullish bias. Daily MAs (50/100/200) were not available in the dataset, but given the 24-hour context, the price remains within a neutral to slightly bullish trend.

MACD & RSI

MACD surged during the 17:00–19:30 ET window, aligning with the $0.1463 peak. However, a bearish crossover followed, suggesting fading momentum. RSI hit overbought territory above 70, peaking near 72 before a divergence signaled possible bearish exhaustion. This divergence suggests that further upside may require renewed bullish conviction.

Bollinger Bands

Volatility expanded significantly after 19:00 ET, with the bands widening by nearly 0.5%. Price peaked near the upper band and then retested the middle band during the evening and night hours. A contraction in volatility is expected before any meaningful breakout occurs, though the recent widening indicates increased activity and uncertainty.

Volume & Turnover

Volume spiked during the 17:00–19:45 ET window, with the most active candle (19:45–20:00 ET) showing 94,988 contracts traded. Turnover spiked to $14.4M during this time, with a later decline into the overnight session. The volume expansion correlated with the price high, providing confirmation. However, diverging volume in the late night/early morning hours suggests weakening conviction.

Fibonacci Retracements

The $0.1465 peak and $0.1435 low during the 24-hour window produced key Fibonacci levels at 38.2% ($0.1453), 50% ($0.1451), and 61.8% ($0.1449). Price action has lingered around these levels for much of the day, particularly the 38.2% and 50% retracements. A break below $0.1449 may test the $0.1440 support level, while a retest of $0.1465 could offer a limited short-term opportunity.

Over the next 24 hours, ADXUSDT may consolidate around the 38.2–50% Fibonacci zone or test $0.1465 again, depending on renewed bullish interest. Investors should remain cautious of volatility contractions and potential short-term divergences in momentum indicators. A close below $0.1449 would heighten bearish risk.