Market Overview for Axie Infinity/Tether (AXSUSDT) on 2025-10-27

• AXSUSDT fell from $1.65 to $1.59 in 24 hours, with a 1.618 Fibonacci level at 1.606 as key resistance.
• RSI dipped into oversold territory, hinting at potential short-term buying pressure.
• Bollinger Bands widened significantly after the 10:30 ET sell-off, suggesting rising volatility.
• Volume spiked to 211k during the 10:30–11:00 ET selloff, but price failed to recover.
• A bearish engulfing pattern formed at the daily high, supporting the downtrend.

The Axie Infinity/Tether (AXSUSDT) pair opened at $1.632 on 2025-10-26 at 12:00 ET, reaching a high of $1.656 and falling to a low of $1.587 before closing at $1.598 at 12:00 ET on 2025-10-27. The 24-hour trading volume was approximately 407,436.88, with a total turnover of $655,476.25. The price action reflects a strong bearish trend, particularly after 10:30 ET, when a sharp decline accelerated volatility.

Key support levels are currently forming around $1.590–1.595, with a 50-period moving average (15-min chart) at $1.615 acting as an overhead resistance. A 20-period moving average has dipped below the 50-period line, reinforcing bearish momentum. On the 1-hour and daily charts, the 50/200 EMA crossover remains bearish, with the 200-day average at $1.649 providing a clear ceiling. The pair appears to be in a medium-term downtrend, with the 61.8% Fibonacci retracement at $1.606 marking a potential near-term pivot point.

RSI has dipped to 28–32 during the recent leg down, indicating oversold conditions, though this may not yet justify a reversal. The MACD is bearish with a negative histogram, while Bollinger Bands have expanded significantly after the 10:30 ET low, reflecting heightened volatility. Price remains below the 20-period moving average and within the lower band, signaling continued weakness. A test of the $1.590 level could trigger a short-term bounce, but without a close above $1.606, the downtrend is likely to persist.

The immediate outlook suggests a continuation of the bearish momentum for AXSUSDT over the next 24 hours. A break below $1.590 could extend the selloff to key support at $1.580–1.585. However, traders should remain cautious, as oversold RSI levels could attract short-covering or buying interest. A failure to hold above $1.595 may increase the risk of a deeper correction. Volatility remains high, and price behavior could be unpredictable if the selloff continues.

Backtest Hypothesis

To better understand the potential profitability of the recent bearish move, a backtest using MACD Death Cross events could provide valuable insight. By identifying each instance where the MACD line crosses below the Signal line, we can analyze how AXSUSDT performed in the following days. This approach may help determine the likelihood of further declines and the effectiveness of using the MACD indicator as a sell signal in this pair. To proceed with this backtest, we need to resolve the data-storage issue and ensure the MACD data is complete and properly formatted.