Market Overview: AdEx/Bitcoin (ADXBTC) – 24-Hour Technical Breakdown

• ADXBTC declined by ~5.88% over the last 24 hours, closing at 9.8e-07.
• Low volume trading dominated most of the session, with a sharp spike after 01:00 ET.
• RSI and MACD both signaled bearish momentum, with prices consolidating within Bollinger Bands.
• Price action showed a descending trend with key support around 9.8e-07 holding.
• Fibonacci levels suggest potential for further bearish movement toward 9.7e-07 or 9.6e-07.

The AdEx/Bitcoin (ADXBTC) pair opened at 1.05e-06 on 2025-09-21 at 12:00 ET and closed at 9.8e-06 at the same time on 2025-09-22. The 24-hour range saw a high of 1.05e-06 and a low of 9.8e-06. Total volume amounted to 817,281.0 and total turnover was approximately 0.8198 BTC, reflecting a bearish consolidation with low trading activity for much of the session.

The structure of ADXBTC over the past 24 hours showed a clear descending trend, lacking strong bullish reversal signals. No significant candlestick patterns like engulfing or doji emerged during the decline, though a few small-volume bearish confirmation candles were observed. Support appears to be forming around 9.8e-06, with resistance lingering near 1.04e-06. The price failed to break above this level in the final hours of the session, suggesting continued bearish control.

The 15-minute chart shows the 20 and 50-period moving averages both sloping downward, with the 50-period line acting as a bearish signal as it remains above the 20-period line. While these indicators are not in immediate alignment on the daily chart, the 50- and 200-period moving averages are also in a downtrend, reinforcing the bearish bias. Volatility appears to be low, with prices consolidating tightly within Bollinger Bands, indicating a lack of conviction from traders.

ADXBTC’s RSI stands at ~30–35 for the 15-minute chart, indicating oversold conditions. However, this has not led to a meaningful rebound, suggesting sellers remain dominant. MACD has been negative for the past 24 hours, with the histogram shrinking slightly, which could signal a potential slowdown in the bearish momentum. The low volume and consistent price action within Bollinger Bands suggest a continuation of the current trend is likely unless a breakout or strong reversal pattern emerges.

Fibonacci retracement levels from the recent high at 1.05e-06 to the low at 9.8e-06 show key levels at 38.2% (~1.025e-06) and 61.8% (~1.013e-06). Prices remain below both levels, indicating a high probability of further bearish movement. On a daily chart, Fibonacci levels could extend the current decline toward 9.7e-06 or even 9.6e-06, depending on volume and follow-through.

Backtest Hypothesis

Given the bearish bias observed through ADXBTC’s price action, RSI, and moving average alignment, a potential backtesting strategy would involve entering short positions on breaks below 1.04e-06, with a stop-loss placed above the 1.05e-06 resistance level. A Fibonacci-based target at 9.8e-06 could serve as a first objective, with a trailing stop to capture additional downside should the trend continue. This approach leverages the combination of price momentum, volume confirmation, and key support/resistance levels to optimize risk-adjusted returns.