Summary
•
opened at $0.0297 and closed $0.0286, forming a bearish decline with a 61.8% Fibonacci retracement level at $0.0293.
• RSI and MACD show bearish momentum, with RSI hovering in oversold territory around 28–30.
• Volume increased steadily into the early morning hours, confirming the downtrend amid a Bollinger Band contraction.
AIXBT/Tether (AIXBTUSDT) opened at $0.0297 on Dec 24 at 12:00 ET, reached a high of $0.0309, fell to a low of $0.0284, and closed at $0.0286 on Dec 25 at 12:00 ET. Total volume over the 24-hour period was approximately 13,954,758.8 USDT, with notional turnover roughly calculated at $408,792.80.
Structure and Candlestick Formations
The pair formed a bearish trend with several confirmed engulfing patterns in the early morning hours, notably in the 2:45–3:15 ET window.
A 61.8% Fibonacci retracement level at $0.0293 appears to be a strong psychological barrier, where price stalled multiple times. The low at $0.0284 marked a key support, holding through the late morning session before consolidation.
Moving Averages and Momentum
Price remained below the 50-period and 20-period moving averages on the 5-minute chart for most of the session, suggesting bearish control. The 20-period MA crossed below the 50-period MA in the early hours, reinforcing short-term bearish momentum. On the daily chart, the 50-period MA is close to the current price, with the 200-period MA acting as a long-term bearish reference. RSI dipped below 30 in the late morning, indicating oversold conditions, though divergence with price has limited its predictive strength.
Volatility and Bollinger Bands
Volatility showed a modest increase overnight, with the Bollinger Band width expanding from around 0.0004 to 0.0006 by 6:00 AM ET. Price hovered near the lower band during the consolidation phase and briefly broke above it in the afternoon, but failed to sustain the move. The contraction in the early hours suggested a potential reversal, though the continuation of the downtrend indicates caution for further declines.
Volume and Turnover
Volume increased steadily from 2:00 AM to 10:00 AM ET, confirming the bearish bias as price moved lower. Turnover spiked around 8:00–9:00 AM ET, following a minor rebound in the $0.0291–$0.0295 range. Divergence between volume and price was minimal, with the bearish trend well-supported by rising volume.
The pair appears to be consolidating within a descending channel, with short-term support at $0.0284 and resistance near $0.0293. A break below $0.0284 could invite further bearish momentum, while a close above $0.0293 may indicate a short-term reversal. Investors should watch for a breakout or reversal pattern on the 5-minute chart, but bearish bias remains intact for the next 24 hours, with risk skewed to the downside.
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