Market Overview: Axie Infinity/Tether (AXSUSDT) – 24-Hour Volatility and Momentum Divergence

• AXSUSDT rallied from 1.540 to 1.630 before retreating to 1.594 by 12:00 ET, closing 5.7% higher than 12:00 ET − 1
• Momentum strengthened during the 04:45–06:00 ET window, with 1.600 acting as a temporary pivot
• Volatility expanded after 00:00 ET as price surged past 1.600, though volume remains concentrated in the 05:00–07:00 ET window
• RSI crossed into overbought territory by 06:00 ET before retreating, while MACD showed bearish divergence in the final 3 hours

Axie Infinity/Tether (AXSUSDT) opened at 1.548 on October 23, 12:00 ET, surged to 1.630 overnight, and closed at 1.594 on October 24. Total volume for the 24-hour period was 689,907.14, with a notional turnover of approximately $1.09 million. The 15-minute chart showed a sharp 5.7% rebound after 00:00 ET, with bullish momentum peaking near 1.600 before consolidating in a tight range near that level.

Price found strong demand near 1.540 and 1.575, with resistance forming at 1.600 and 1.630. A bullish engulfing pattern emerged at 00:00 ET when the candle opened at 1.561 and closed at 1.567 after a high of 1.567, signaling a short-term reversal. The 20-period EMA (1.576) crossed above the 50-period EMA (1.574) around 05:00 ET, confirming the uptrend. However, RSI peaked at 71 by 06:00 ET and has since declined, suggesting possible exhaustion.

MACD showed a bullish crossover around 00:00 ET, with the histogram peaking at 06:00 ET before turning bearish after 09:00 ET. This divergence hints at a possible reversal in the near term. Bollinger Bands expanded as volatility increased overnight, with price closing near the upper band at 1.594 by 12:00 ET. A contraction may follow as the 20-period standard deviation rose from 0.009 to 0.016, indicating heightened volatility.

Fibonacci retracement levels from the 1.540–1.630 swing show 1.594 at the 61.8% level, suggesting a key consolidation point. A break below 1.575 could test the 50% level at 1.585, while a retest of 1.600–1.611 may offer further momentum clues. Volume spiked at 05:15 ET and again at 02:30 ET, coinciding with the 1.569 and 1.569 close, respectively. These spikes confirmed the intraday bullish bias but have since tapered off.

Backtest Hypothesis: The current data-service interface for Bullish-Engulfing signals is unavailable, preventing direct backtesting of pattern-based strategies for AXSUSDT. To proceed, options include using an alternate exchange ticker (e.g., BINANCE-AXSUSDT), uploading known pattern dates manually, or deriving the pattern from raw OHLC data. A potential strategy using the 15-minute candlestick patterns—such as the bullish engulfing at 00:00 ET—could be tested with these methods to assess the validity of entry signals. The recent pattern has shown positive confirmation with EMA and RSI, suggesting a viable candidate for further analysis once the interface is restored.

Looking ahead, the next 24 hours may bring renewed volatility if the 1.594 level holds and price retests 1.600. A break above 1.600 could trigger a move toward 1.630, but caution is warranted due to bearish MACD divergence and RSI overextension. Conversely, a break below 1.575 could lead to a retest of 1.540. As always, market conditions can shift rapidly, and a prudent investor may consider reducing exposure if signs of weakness emerge in the next 48 hours.