Market Overview for Axie Infinity/Tether (AXSUSDT)

Summary
• Price surged above $0.991, forming a bullish engulfing pattern near 0.985–0.993.
• RSI reached overbought territory, while Bollinger Bands widened, signaling rising volatility.
• Volume spiked during the 12:15–12:45 ET rally, confirming strength in the upward move.
• Key resistance at $0.991–1.003 and support at $0.975–0.985 defined a consolidation range before the break.
• MACD showed a positive crossover early morning, aligning with bullish momentum.

Market Overview

At 12:00 ET–1 on 2026-01-05, AXSUSDT opened at $0.967, hit a high of $1.010, a low of $0.961, and closed at $0.971. Total 24-hour volume amounted to 1.23 million, with turnover reaching $1.19 million. The pair experienced a volatile 24-hour range with a clear shift in sentiment post-ET noon.

Structure and Key Levels

Price carved a distinct ascending pattern in the 5-minute chart, with a strong break above the 0.991–1.003 consolidation zone. A bullish engulfing pattern formed around the 0.985–0.993 range, suggesting short-term buyers took control. The 20-period moving average crossed above the 50-period line, reinforcing the upward momentum.

Volatility and Momentum

Bollinger Bands showed a significant expansion during the 12:00–12:45 ET window, aligning with increased volume and price surges above $1.00. RSI briefly entered overbought territory around $1.003, indicating potential short-term profit-taking. MACD remained positive through much of the session, with a confirmed bullish crossover in the early hours.

Volume and Divergence

Volume surged sharply during the 12:15–12:45 ET rally, peaking at $680k notional turnover as price hit $1.003. Notable divergence appeared in the later hours when price retreated below 0.995 despite declining volume, suggesting potential exhaustion in the rally.

Forward Outlook and Risk

With price consolidating near 0.991–1.003, a pullback to test 0.985 or a test of the 1.003 resistance level may occur. Investors should watch for a break below 0.985 for further bearish bias or a retest of the high for confirmation of bullish momentum.

The next 24 hours may bring consolidation or a breakout attempt, with volatility likely to remain elevated given recent volume patterns.