Market Overview for Axie Infinity/Tether (AXSUSDT) – October 9, 2025

• Price fell from a peak of $2.213 to a low of $2.070, closing near $2.097
• Strong bearish momentum confirmed by RSI and MACD divergence
• Volatility expanded, with Bollinger Bands widening from $2.19 to $2.09
• Turnover surged in the 14:45–15:00 ET window, suggesting increased bear pressure

Axie Infinity/Tether (AXSUSDT) opened at $2.154 on October 8 at 12:00 ET and closed at $2.097 as of October 9 at 12:00 ET. The pair reached a high of $2.213 and a low of $2.070 during the 24-hour window, with a total trading volume of 663,103.24 and a notional turnover of $1,433,547.85.

Over the past 24 hours, AXS/USDT exhibited a strong bearish trend characterized by a sharp pullback from intraday highs to intraday lows. A key resistance level at $2.207 was breached and then failed to hold as the price continued downward. A bearish engulfing pattern emerged at $2.207–$2.201 on October 8 at 19:15 ET, suggesting a shift in sentiment. Around the same time, a doji at $2.207 also indicated indecision and potential exhaustion of the bullish wave. The price then found temporary support at $2.188, $2.168, and finally $2.132 before breaking below $2.100. A critical breakdown below $2.100 was confirmed by the candle close at $2.103, opening the door for further bearish pressure toward the $2.085 level.

The RSI dropped from overbought territory into the oversold range, signaling exhaustion in the bearish move. MACD displayed a bearish crossover with a negative histogram, reinforcing the downward bias. Bollinger Bands widened significantly, indicating high volatility, and the price spent much of the session near the lower band, suggesting a strong bearish momentum. The 20-period and 50-period moving averages on the 15-minute chart both declined, reinforcing the downward trend.

On the Fibonacci retracement scale, the $2.188 and $2.168 levels corresponded to the 61.8% and 78.6% retracement levels of the initial bullish wave. The breakdown below $2.100 marked a 76.4% retracement of the recent bullish impulse, signaling a likely continuation of the bearish phase. Volume surged during the late-ET hours, particularly in the 14:45–15:00 window, with over $56,000 in notional turnover, a sign of strong bear participation. However, a divergence emerged between price and turnover in the 21:00–22:00 ET window, where price continued to fall but turnover declined—potentially signaling a temporary pause in the bearish momentum.

Backtest Hypothesis
The bearish engulfing pattern observed at $2.207–$2.201 and the subsequent doji at the same level align with a classic short-entry strategy. A backtesting approach could involve entering a short position at the open of the candle following these patterns, with a stop-loss placed above $2.213 and a target at the 61.8% Fibonacci retracement at $2.188. Given the strong bearish momentum confirmed by the RSI, MACD, and volume, this setup appears valid for the short-term timeframe. A trailing stop could be implemented after the price breaks below $2.168 to capture deeper bearish moves.