Market Overview for Axie Infinity/Tether (AXSUSDT): Volatile Close with Key Resistance Tested

• AXSUSDT opened at $2.403, reached a high of $2.546, and closed at $2.538 with a 24-hour range of $2.385–$2.546.
• A bullish momentum was observed post-2.405 support, with price rebounding multiple times and confirming 2.47–2.51 as a key trading range.
• The RSI signaled overbought conditions above 70 during the late hours, while volume spiked near the 2.54–2.544 resistance.
• Bollinger Bands widened as price tested the upper band repeatedly, showing elevated volatility and consolidation near a possible breakout zone.
• Turnover reached $68,504,046 with volume peaking at 63256.91 during the 20:30–20:45 ET 15-minute window, aligning with the high.

Price Action and Volatility

Axie Infinity/Tether (AXSUSDT) opened at $2.403 at 12:00 ET − 1 and closed at $2.538 at 12:00 ET on September 18, 2025. The 24-hour high reached $2.546, while the low fell to $2.385. Total volume traded was 264,143.75 with a turnover of $68,504,046, indicating increased participation as price approached key resistance levels near $2.54. The price action showed a clear attempt to break above the $2.54–$2.544 range, with a bullish engulfing pattern emerging during the final hour of the reporting window.

Key Support and Resistance Levels

Support levels were observed at $2.405 and $2.39, where price found repeated buyers during early and mid-day trading. Resistance appears to be forming at $2.54 and $2.546, with a bearish hammer and a hanging man pattern appearing as the market approached these levels. A notable bullish engulfing pattern occurred during the 09:15–09:30 ET time window as the price moved from $2.537 to $2.547, suggesting a potential reversal after consolidation.

Indicators and Momentum

MACD showed positive divergence in the last 3 hours, aligning with higher volume and price action above the zero line. RSI hit overbought levels above 70, particularly during the late night trading session (03:00–05:00 ET). The 20-period moving average hovered near $2.47, while the 50-period line was at $2.49, suggesting a potential shift in trend if $2.54 can be held. Bollinger Bands widened significantly during the early morning hours, with price testing the upper band multiple times.

Volume and Turnover

The highest volume spike occurred during the 20:30–20:45 ET 15-minute candle, with a volume of 63,256.91 and a close at $2.488. Turnover during this time reached $157,443, suggesting strong conviction in the direction of price. However, the price failed to close above $2.544, indicating that the buying pressure may have dissipated after a few key resistance levels were tested. A divergence between volume and price was noted in the 05:30–05:45 ET window, where price moved lower but volume remained high, hinting at potential exhaustion.

Backtest Hypothesis

Given the observed patterns and indicator readings, a potential backtesting strategy could be to go long on a bullish engulfing pattern forming above the 20-period moving average, with a stop-loss placed below the most recent support level of $2.47 and a target of $2.58–$2.60. A short position could be triggered if the RSI crosses back below 50 after an overbought condition, with a stop placed above the upper Bollinger Band. This strategy would leverage the recent volatility and momentum shifts while managing risk through defined stop levels.