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

• Price surged 13% from $2.15 to $2.28 after a sharp sell-off to $2.155 on 24-hour lows.
• Momentum shifted midday with a bullish reversal pattern and volume spiking near the 12:30 ET peak.
• RSI entered overbought territory post-2.333 high, suggesting potential near-term consolidation.
• Bollinger Bands expanded sharply during the 17:30–20:00 ET rally, reflecting heightened volatility.
• Turnover spiked 600% during the 17:30–19:00 ET rally, confirming strength in the upward move.

Axie Infinity/Tether (AXSUSDT) opened at $2.254 on 2025-10-06 at 12:00 ET, surged to a high of $2.333, fell to a low of $2.155, and closed at $2.159 at 12:00 ET on 2025-10-07. Total volume reached 357,488.48, while turnover hit $785,840.80 over 24 hours.

Structure & Formations

AXSUSDT formed a bearish reversal pattern around the 13:45 ET candle, where price plummeted from $2.292 to $2.258 on heavy volume, signaling a shift in sentiment. A bullish engulfing pattern formed at the 19:45–20:00 ET candles, followed by a sharp rally above $2.331. A doji formed at 15:00 ET after the $2.333 peak, suggesting indecision. Key support levels include $2.280, $2.250, and $2.200, while resistance is at $2.300 and $2.333.

Moving Averages & Momentum

On the 15-minute chart, the 20-period and 50-period moving averages were crossed during the 19:45–20:00 ET bullish surge. Price remained above both by the close, indicating short-term bullish momentum. On the daily chart, the 50-period MA is at $2.235, the 100-period MA at $2.240, and the 200-period MA at $2.230, suggesting a potential support cluster in the $2.235–$2.240 range.

MACD turned positive during the 19:45–20:00 ET rally, confirming the upward move. RSI peaked at 74, entering overbought territory, signaling a potential pullback.

Volatility & Volume

Bollinger Bands expanded significantly during the 17:30–20:00 ET rally, reflecting heightened volatility. Price traded near the upper band at $2.333 and retested the lower band at $2.155. Volume spiked during the 19:45–20:00 ET rally, with over 277,946.67 traded, confirming the bullish breakout. However, turnover and volume diverged slightly in the last 3 hours, with price falling below the 15:15 ET peak despite increased volume, hinting at potential distribution.

Fibonacci Retracements

Applying Fibonacci levels to the 10:15–13:45 ET swing (high of $2.337 to low of $2.258), the 61.8% retracement is at $2.290, and the 38.2% level is at $2.278. Price tested both levels during the 19:45–22:00 ET consolidation. On the daily timeframe, the 61.8% retracement of the recent $2.155–$2.333 move is at $2.230, aligning with key moving averages, which could offer a pivot point for the next 24 hours.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions when price closes above the 20-period MA and RSI crosses above 50, with a stop-loss at the nearest support level. This setup was observed during the 19:45–20:00 ET move and could be applied for future breakouts. Short positions may be triggered on retests of key resistance levels with bearish candlestick patterns, particularly if RSI turns bearish or volume declines.

Looking Ahead

AXSUSDT is consolidating near the 15:15 ET low of $2.159, with RSI in neutral territory. A rebound above $2.200 could test the 20-period MA and rekindle bullish momentum. Traders should watch for volume confirmation during any attempted breakouts. Risk of a further pullback to $2.150–$2.130 remains, especially if bearish momentum builds on the daily chart.