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Summary
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At 12:00 ET−1, Xai/Tether (XAIUSDT) opened at 0.01561, reached a high of 0.0159, a low of 0.01532, and closed at 0.01575 by 12:00 ET. Total volume across the 24-hour period was approximately 25.7 million XAI, while turnover was roughly $423,460.
Structure & Formations
The session saw a sharp decline from 0.01561 to 0.01532, followed by a recovery that formed a bullish engulfing pattern near 0.01546. A doji appeared at 0.01576, suggesting indecision. Key support was tested at 0.01545 and held, while resistance remains at 0.01577.
Moving Averages
On the 5-minute chart, the 20SMA and 50SMA showed a slight bullish crossover during the rebound. On the daily chart, the price closed above the 50DMA, hinting at a potential short-term reversal.
MACD & RSI
The MACD line crossed above the signal line, signaling increasing bullish momentum. RSI hovered around 50 throughout most of the session, indicating equilibrium between buyers and sellers.
Bollinger Bands
Volatility expanded in the early part of the session, with price briefly breaching the lower band at 0.01532. By the end of the day, price was trading near the middle band, indicating consolidation.
Volume & Turnover
Volume spiked during the drop to 0.01532 and again during the afternoon rally. Turnover aligned with price action, suggesting conviction in both bearish and bullish moves. No significant divergence was observed.
Fibonacci Retracements
The 61.8% retracement level of the morning drop (~0.01561) held as a key support during the afternoon, while the 38.2% level (~0.01584) acted as resistance in the evening.
The price appears to be consolidating after a sharp correction, with potential for a short-term bounce. Traders should watch for a break above 0.01577 for confirmation of a near-term rally, though caution is warranted given the recent volatility.
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