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Summary
• Price broke below key 0.851 support, closing at 0.844 after a bearish breakdown.
• MACD crossed bearish, while RSI signaled oversold conditions near 30.
• High volatility seen with a 1.3% range, driven by sharp selloff after 22:00 ET.
• Turnover spiked during the 0.820–0.850 range, confirming bearish momentum.
• 0.834–0.850 forms a key cluster for potential near-term support or bounce.
Axie Infinity/Tether (AXSUSDT) opened at 0.860, reached a high of 0.861, and a low of 0.828 before closing at 0.844 as of 12:00 ET. Total volume was 510,172.83, with a notional turnover of $421,977.95 over 24 hours.
Structure & Key Levels
The price broke below the 0.851 support level in the evening hours and continued down into the 0.834–0.835 range before stabilizing. The 0.851–0.855 area formed a cluster of previous support, which now appears to be a resistance level. A bearish engulfing pattern was observed at the 0.855–0.851 level, reinforcing the breakdown.

Volatility and Bollinger Bands
Bollinger Bands widened significantly after 22:00 ET as the price moved into a lower range, indicating increased volatility. The breakdown below the lower band around 0.834–0.835 suggests heightened bearish sentiment, with price likely to consolidate within the bands in the near term.
Momentum and Indicators
MACD turned bearish as the histogram crossed below the zero line, with both fast and slow lines trending downward. RSI dropped into the oversold territory around 30, but a rebound is likely to remain limited unless volume confirms a reversal.
Volume and Turnover
Volume surged during the selloff between 0.851 and 0.835, confirming the bearish breakout. Turnover during that period accounted for over 80% of the daily total. However, volume has declined in the last 6 hours, suggesting a potential pause in selling pressure.
Fibonacci Retracements
A 5-minute swing from 0.861 to 0.828 shows the 0.835 level as the 61.8% retracement, where the price found temporary support. On the daily chart, the 0.840–0.845 range may represent a key 38.2% retracement level from the recent low, offering a potential bounce zone.
A potential short-term bounce off the 0.840–0.844 range may occur, but a break below 0.834 could extend losses toward 0.822. Investors should monitor volume for any signs of reversal or continuation.
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