Market Overview: Across Protocol/Tether (ACXUSDT) on 2025-11-03

• Price dipped from 0.0679 to 0.0628 amid growing bearish momentum and high volume.
• RSI and MACD signaled overbought to oversold transition, confirming downward shift.
• Volatility expanded as Bollinger Bands widened, with price testing lower boundaries.
• A Bearish Engulfing pattern formed during the early morning ET, signaling potential short-term reversal.
• Turnover spiked during the late ET session, aligning with sharp price declines.

At 12:00 ET on 2025-11-03, Across Protocol/Tether (ACXUSDT) opened at 0.0664, hit a high of 0.0683, a low of 0.0605, and closed at 0.0621 by 12:00 ET. Total volume over the 24-hour period was 10,470,508.1, and turnover was $661,212.6.

The price structure over the past 24 hours exhibited strong bearish sentiment, with a distinct shift in momentum visible in the candlestick formations. A key Bearish Engulfing pattern formed on the 15-minute chart during the early morning ET session, as a large bearish candle engulfed the prior bullish candle. This pattern, combined with a falling RSI from overbought levels (~75) to oversold (~30) and a negative MACD crossover, confirmed the strength of the downward move. The 20-period and 50-period moving averages on the 15-minute chart remained in a bearish alignment, with the 20 MA dipping below the 50 MA, reinforcing short-term bearish bias.

Volatility spiked during the afternoon ET, with Bollinger Bands widening significantly, suggesting increased market uncertainty. Price tested the lower band multiple times, particularly in the late ET session, where it broke below the 0.063 level and continued lower. Volume surged during these moves, especially around 15:30 and 16:00 ET, confirming the bearish breakout. A divergence between volume and price was also observed during the early morning ET, where volume declined while price continued to fall, hinting at a possible slowdown in the downward momentum.

Fibonacci retracements from the recent 15-minute high of 0.0683 to the low of 0.0605 showed that the current level of 0.0621 is near the 61.8% retracement level, suggesting potential consolidation or a bounce back to the 0.063–0.064 range. However, the overall daily trend remains bearish, with the 50-period moving average on the daily chart continuing to slope downward, while the 200 MA remains above current price levels.

Backtest Hypothesis

Given the presence of a Bearish Engulfing pattern early in the 24-hour window, a practical short-selling strategy could be initiated at the next session’s open. The plan would involve opening a SHORT position on ACXUSDT at the following day’s open after confirmation of the Bearish Engulfing pattern. To manage risk, a 5-day holding period with a 10% take-profit and 5% stop-loss (relative to entry price) would be applied. Position sizing would assume a fixed-fractional approach, allocating a significant portion of capital (e.g., 100%) per signal.