Market Overview for Axie Infinity/Tether (AXSUSDT): 24-Hour Summary (2025-10-05)

• Price surged past key resistance, breaking above 2.25 with bullish momentum.
• RSI signaled overbought conditions near 80, suggesting potential pullback.
• Volume spiked during the rally, confirming strength in the breakout.
• Bollinger Bands widened as volatility increased, with price at the upper band.
• A large bullish engulfing pattern formed following consolidation, signaling optimism.

Axie Infinity/Tether (AXSUSDT) opened at $2.200 on 2025-10-04 at 12:00 ET, reached a high of $2.290, and closed at $2.249 as of 12:00 ET on 2025-10-05. The 24-hour trading volume totaled approximately 56,222.78, with a notional turnover of $122,921.06.

The price displayed a sharp and sustained upward move driven by a powerful breakout above 2.25 and followed by a bullish engulfing pattern near the session high. This pattern formed after a period of consolidation between $2.20 and $2.23, suggesting a shift in market sentiment. Support levels formed around $2.197 and $2.182, with the latter showing a strong reaction. Resistance appears to be testing at $2.290, which may serve as a near-term ceiling or a potential pivot point for further momentum.

The 20-period and 50-period moving averages on the 15-minute chart were both bullish, with the price closing above both. On the daily chart, the 50-period MA crossed above the 200-period MA, signaling a potential trend reversal from bearish to bullish. The MACD remained positive and trending upwards, confirming the strength of the move. The RSI reached overbought territory, nearing 80 at the session peak, indicating that a pullback could be imminent. However, the move remains strong as long as key support levels hold.

Bollinger Bands reflected heightened volatility, with the bands expanding as price surged. The price hovered near the upper band during the final hours, suggesting overbought conditions and possible mean reversion. The volume profile showed a sharp increase during the breakout phase, especially between 02:00 and 04:00 ET, with the largest spikes aligning with key resistance breaks. However, volume dropped off significantly in the last 15-minute candles, which may signal a pause in momentum.

Fibonacci retracement levels applied to the key swing from $2.182 to $2.290 indicated critical levels at 2.234 (38.2%), 2.257 (50%), and 2.269 (61.8%). The price briefly tested the 50% level before surging further, suggesting strong buying pressure. For the daily chart, retracement levels from a previous downtrend showed potential support at $2.215 and $2.200—levels that the market has now moved beyond.

Backtest Hypothesis
The described strategy involves entering long positions on a breakout of a 15-minute bullish engulfing pattern, confirmed by a close above a 20-period moving average, with a stop loss placed just below the pattern’s low. A trailing stop is initiated once the RSI confirms overbought conditions and the price remains above the upper Bollinger Band. Given today’s action, a long entry at $2.210, with a stop at $2.197 and a target at $2.25–2.26, would have captured the bulk of the move. A tighter exit could have been triggered when RSI reached 80 and the upper band was tested, preserving gains. This strategy appears well-suited to assets showing strong directional momentum and volatility, like AXSUSDT.