Summary
• Price swung between 0.792 and 0.873, forming bearish and bullish engulfing patterns.
• Volatility expanded after 0.815 support, with high turnover confirming strength in 0.82–0.84 range.
• RSI suggests oversold conditions below 0.805, while MACD remains neutral with mixed momentum signals.
Axie Infinity/Tether (AXSUSDT) opened at 0.867, hit a high of 0.873, and a low of 0.792, closing at 0.864. Total volume was 1,754,791.3 and turnover reached $1,455,529.4.
Structure & Formations
Price showed a bearish engulfing pattern at 0.839–0.824 and a bullish engulfing at 0.801–0.809. A potential 61.8% Fibonacci retracement level appears at 0.815, which could act as a key short-term support.
Moving Averages
On the 5-minute chart, the 20- and 50-period moving averages crossed near 0.830, suggesting possible short-term direction. Daily 50/200 EMA alignment remains neutral, with no clear bias established.
MACD & RSI
RSI dipped to 30 in the 0.80–0.81 range, indicating potential oversold conditions. MACD histogram flattened around neutral, with no clear momentum buildup, suggesting a possible consolidation phase.
Bollinger Bands
Volatility expanded after the 0.815–0.835 swing. Price remains near the upper band as of the 12:00 ET close, suggesting a potential overbought condition but still within the 2σ range.
Volume & Turnover
Turnover surged during the 0.815–0.835 consolidation, with notable volume at 0.825 and 0.842. Price and turnover aligned during the 0.84–0.85 rally, suggesting confirmation of bullish intent.
Fibonacci Retracements
The 61.8% level on the 0.792–0.873 swing is at 0.815, a key area to watch for potential reversal or continuation. A break below 0.805 could target the 0.792 low for further downside.
Looking ahead, the 0.815–0.825 range could determine whether the market consolidates or resumes its upward trend. Investors should remain cautious, as volatility remains high and momentum signals are mixed.
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