Market Overview: Across Protocol/Tether (ACXUSDT) - 24-Hour Technical Summary (2025-10-07)

• Price action showed a sharp decline overnight, breaking key support zones with bearish momentum intensifying after 00:30 ET.
• MACD and RSI confirmed bearish divergence, with RSI dipping below 30 and MACD histogram shrinking negatively.
• Volatility expanded as Bollinger Bands widened, with price closing near the lower band at 12:00 ET.
• Notional turnover spiked at 12:00–02:00 ET, reflecting increased selling pressure during the downtrend.
• A bearish engulfing pattern emerged after 00:00 ET, suggesting short-term continuation of the decline.

At 12:00 ET − 1 (2025-10-06 16:00 ET), ACXUSDT opened at $0.1242, reached a high of $0.1260, a low of $0.1147, and closed at $0.1153 by 12:00 ET. Total 24-hour volume was 30,914,320.0 and turnover was $3,828,660.00. The pair saw a pronounced bearish trend, especially in the overnight session, with bearish momentum intensifying after the initial consolidation.

Structure & Formations

Price action over the past 24 hours revealed a sharp, sustained breakdown after 00:00 ET. A bearish engulfing pattern formed at 00:00 ET, signaling potential short-term continuation of the bearish move. Key support levels were identified at $0.1210 and $0.1180, both of which were tested with the latter failing to hold by late afternoon. Resistance levels at $0.1250 and $0.1265 were broken early, reinforcing the bearish bias. A notable doji formed at 03:45 ET, hinting at indecision and potential for a pullback or consolidation ahead.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bearishly aligned, with the 20 MA at $0.1219 and the 50 MA at $0.1231, confirming the downward drift. On the daily chart, the 50, 100, and 200-period moving averages are converging at $0.1235–0.1250, suggesting that a retest of these levels could trigger a rebound or a continuation of the trend if bears maintain control.

MACD & RSI

The MACD turned bearish, with the line crossing below the signal line during the overnight session, and the histogram continued to shrink negatively until 04:30 ET. RSI has shown classic overbought-to-oversold conditions, dipping below 30 early in the morning. This suggests short-term exhaustion in the bearish move, though the bearish bias remains intact. Divergence was observed in the final hours between price and RSI, which could signal a near-term pause or reversal.

Bollinger Bands

Volatility expanded significantly overnight, with the Bollinger Bands widening to capture the sharp selloff. By 12:00 ET, price closed near the lower band at $0.1153, indicating potential for a near-term bounce. However, the wide bands also suggest that the market is in a phase of high uncertainty, with large price swings expected to persist in the near term.

Volume & Turnover

Volume spiked overnight, particularly from 00:00 to 02:00 ET, with notional turnover peaking at $750,000+ per hour. The volume and price action were well aligned during this phase, confirming the bearish breakdown. However, after 04:00 ET, volume started to wane despite continued price declines, suggesting a potential exhaustion in the bearish momentum. A divergence emerged between volume and price as turnover declined while the price continued to fall after 07:00 ET.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from $0.1260 to $0.1147, key levels at 38.2% ($0.1211) and 61.8% ($0.1173) were both tested. The 38.2% level held briefly at 01:30 ET before being broken, while the 61.8% level failed to hold by 14:15 ET. On the daily chart, the 61.8% retracement of a previous bull trend lies at $0.1130, which may now be the next target for bearish continuation.

Backtest Hypothesis

A backtesting strategy based on **bearish engulfing patterns and RSI < 30** could be effective in this market. Traders may look to enter short positions upon confirmation of the bearish engulfing pattern, with stop-loss placed just above the high of the engulfing pattern. A target of **61.8% Fibonacci level at $0.1173** or **$0.1150** could be applied, with the MACD histogram and volume divergence serving as exit signals. Given the recent divergence and exhaustion, this strategy may offer a high probability trade in the next 24–48 hours.

Looking ahead, ACXUSDT appears poised for further bearish momentum in the short term, with key support at $0.1147 and $0.1130 likely to face pressure. However, traders should remain cautious of a potential bounce on RSI divergence or volume exhaustion, which could lead to a short-term consolidation or even a reversal. The next 24 hours could bring renewed volatility depending on macro sentiment and order book activity.