Market Overview for AIXBT/Tether (AIXBTUSDT) - 2025-11-06

Summary
• Price action displayed a choppy structure with a 24-hour range of $0.0615 to $0.0654.
• Volume peaked in the early evening (ET) with a $4.07 million session high.
• A bearish close on the daily period raised short-term bearish sentiment.
• RSI signaled overbought conditions at peak and overbought at close, with a retest likely.
• A key support level appears to have formed near $0.0626–0.0628, with potential for a bounce or breakdown.

AIXBT/Tether (AIXBTUSDT) opened at $0.063 on 2025-11-05 at 12:00 ET and traded as high as $0.0654 before closing at $0.062 on 2025-11-06 at 12:00 ET. The 24-hour period saw a total volume of 31,239,569.9 and a notional turnover of $1,965,624.30, reflecting moderate on-chain activity.

Structure & Formations

Price action showed a distinct bearish bias following a failed bullish reversal above $0.0642. A key resistance appears at $0.064–0.0645, with multiple failed attempts to hold above this level. On the support side, $0.0626–0.0628 acted as a magnet in the final 4–5 hours, with a potential consolidation forming there. The presence of several bearish engulfing patterns in the final hours of the session supports short-term bearish momentum.

Moving Averages

The 15-minute chart shows the price closing below the 20- and 50-period moving averages, reinforcing bearish bias. On the daily timeframe, the 50 and 100-period moving averages are closely aligned near $0.0633, suggesting a potential pivot point for near-term reversal or breakdown.

MACD & RSI

MACD showed a bearish divergence in the final hours, with a narrowing histogram and a crossover to negative territory. RSI peaked overbought at 70+ near $0.0654 and declined to a neutral zone near 48, indicating a potential retest of key support levels. The market appears to be correcting bearish momentum after a short-lived breakout.

Bollinger Bands

Price briefly tested the upper Bollinger Band at $0.0654, then collapsed toward the lower band at $0.0620–0.0625, indicating high volatility followed by a contraction. The bands have since converged, which may signal a potential breakout or breakdown in the next 24 hours.

Volume & Turnover

Volume spiked above $4.07 million in the early evening (19:45–20:00 ET) as the price reached its intraday high, but sharply declined thereafter. Turnover and volume moved in tandem, confirming the bearish breakdown after the high. A divergence appeared in the final hour, with volume declining even as the price fell, suggesting potential exhaustion in the short-term sell-off.

Fibonacci Retracements

On a 15-minute swing from $0.0626 to $0.0654, the 61.8% retracement level sits at $0.0639–0.0641, which was tested twice during the session. The 38.2% level at $0.0632–0.0634 appears to have provided some short-term support, but the price fell below it in the final hours, suggesting continued bearish pressure.

Backtest Hypothesis

Given the presence of multiple bearish engulfing patterns and failed bullish attempts, a backtest using bullish and bearish engulfing candlestick patterns could provide valuable insight into potential entry and exit points. The strategy would open long positions on bullish engulfing days and close them on bearish engulfing days. The close price was used as the price basis, and no risk controls were applied. This approach could be refined by incorporating time-based holding rules or risk filters to improve performance.