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

• • •
• Price tested key resistance around 2.22–2.23 before retreating; 2.20–2.21 remains strong support.
• Momentum shifted from bearish to mixed, with RSI indicating short-term overbought levels.
• Volatility expanded mid-cycle, coinciding with increased volume and turnover.
• Bollinger Bands showed a narrow consolidation before a breakout attempt.
• Divergence between price and volume suggests potential indecision ahead.

Axie Infinity/Tether (AXSUSDT) opened at $2.196 on 2025-09-22 12:00 ET and closed at $2.225 by 2025-09-23 12:00 ET. The pair reached a high of $2.241 and a low of $2.143, trading on a total volume of approximately 359,183.18 and a notional turnover of $764,427.20.

Structure & Formations

The past 24 hours have shown a distinct bearish bias in the early part of the session, with price falling to a critical support zone near 2.16–2.17 before rebounding. A key bullish reversal pattern emerged near the 2.17–2.18 range, marked by a strong closing candle and rising volume. Resistance levels appear to be forming at 2.22–2.23 and 2.25–2.26. A doji and bullish engulfing pattern were observed near the 2.20–2.22 zone, suggesting potential indecision or a consolidation phase.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show a bearish crossover in the early part of the day, followed by a bullish crossover late morning. This suggests a shift in short-term momentum. The daily 50/100/200 EMA structure shows a moderate bullish bias, with the 50-day MA crossing above the 100-day MA, which may indicate the continuation of a short-term bullish trend.

MACD & RSI

The MACD line showed a bearish crossover early in the session, but later flipped to bullish as price regained momentum above 2.21. The RSI reached overbought territory near 70, particularly after the price surge past 2.23. However, a potential divergence between RSI and price suggests a possible pullback is imminent, with RSI failing to make new highs despite the price reaching 2.241.

Bollinger Bands

Volatility increased significantly as price moved out of the 2.17–2.21 consolidation range. Price is currently hovering near the upper band of the Bollinger Bands, indicating overbought conditions. A contraction was observed early in the session before a sharp expansion, which is often a precursor to a breakout or breakdown. The current positioning near the upper band may indicate a short-term overbought condition, but not yet at extreme levels.

Volume & Turnover

Volume spiked sharply during the 04:30–06:45 ET window, coinciding with the price rebound from 2.17 to 2.21. Turnover increased in tandem, confirming the strength of the move. However, as price approached 2.23–2.24, volume and turnover began to lag, suggesting potential exhaustion. Price and turnover have not shown a clear divergence yet, but caution is warranted as the price moves into higher resistance areas.

Fibonacci Retracements

Fibonacci retracement levels applied to the 2.143–2.241 swing indicate that price is currently near the 61.8% level (~$2.218). This is a key area to watch for potential pullbacks or continuation. On the daily timeframe, the 50% level is at ~$2.21, which aligns with current support. A break above the 78.6% retracement (~$2.236) could signal a stronger bullish move.

Backtest Hypothesis

Based on the observed structure and momentum, a viable backtest strategy could focus on short-term breakouts above the 2.22–2.23 resistance zone. Using a combination of a 20-period EMA crossover, a bullish MACD signal, and a RSI above 55 as entry confirmation could target the 2.24–2.25 level. Stop-loss placement could be near 2.215 to limit risk if the breakout fails. This approach aligns with the observed consolidation and breakout dynamics, leveraging key technical levels for directional bias.