Market Overview for Axie Infinity/Tether (AXSUSDT)

Summary
• Price surged above 1.350, breaking a key resistance and forming bullish continuation patterns.
• RSI crossed into overbought territory, signaling potential short-term correction.
• Volume and turnover surged in the morning, aligning with price strength.
• Bollinger Bands showed a recent expansion, indicating rising volatility.
• Fibonacci levels suggest 1.343 as a near-term support to watch.

Structure & Formations

Axie Infinity/Tether (AXSUSDT) opened at $1.334 on 2025-11-12 at 12:00 ET and closed at $1.353 at 12:00 ET on 2025-11-13. The pair reached a high of $1.417 and a low of $1.294 during the 24-hour window, with a total volume of 319,060.03 and a total turnover of $417,916.37. Notable bullish patterns such as a morning star and a rising wedge appeared as price pushed through 1.350. Key support levels now sit at 1.343 (61.8% Fib from the morning low) and 1.330 (38.2%), while 1.365 and 1.370 appear as immediate resistance.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are aligned in a bullish crossover, with the 50 SMA currently at 1.345 and the 20 SMA at 1.352. On the daily chart, the 50-period MA has crossed above the 100-period MA, forming a golden cross, while the 200-period MA is acting as a dynamic support at 1.333. This confirms a medium-term bullish trend.

MACD & RSI

The MACD has moved into positive territory, with the histogram showing a narrowing gap between the MACD line and the signal line, suggesting a potential pullback. The RSI-14 has crossed into overbought territory at 72, which historically precedes short-term corrections. However, the sustained volume during the rally suggests strong buyer interest.

Bollinger Bands

Bollinger Bands have expanded significantly, with the upper band reaching 1.425 and the lower band at 1.335. Price closed above the upper band on a few occasions, confirming a breakout in volatile conditions. The recent retrace to 1.353 indicates a potential consolidation phase within the upper portion of the bands.

Volume & Turnover

The highest volume spike occurred at 15:00 ET when $179,326.07 in volume moved the price to a high of $1.417. This coincided with a strong close at 1.382, confirming the move. Turnover also spiked during that period, aligning with the price action. However, a divergence appeared in the afternoon as price pulled back while volume declined, suggesting weakening momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing high (1.417) and swing low (1.342), the 38.2% level at 1.379 and the 61.8% level at 1.360 are now key resistance targets. On the 15-minute chart, the 61.8% retrace from the 1.357 to 1.342 swing is at 1.349, a level the price has already tested and is holding.

Backtest Hypothesis

The backtesting strategy focuses on capturing short-term overbought conditions with RSI-14 as the trigger. In today's context, RSI crossed 70 early in the morning, signaling a potential short trade. Given the aggressive move up and the high volume, this setup would have triggered the strategy. However, the sustained momentum and lack of bearish confirmation in the following hours suggest the strategy could face challenges. Traders may want to refine the exit rules or combine RSI with other indicators to filter false signals in high volatility.