Summary
•
formed a bullish engulfing pattern near $0.0151, suggesting short-term support.
• Price tested and bounced off a 61.8% Fibonacci level at $0.01505, with RSI signaling moderate oversold conditions.
• Volatility expanded in late session, with volume surging to 1.8M at 17:45 ET, confirming a downward correction.
Xai/Tether (XAIUSDT) opened at $0.01517 at 12:00 ET–1, hit a high of $0.01547, a low of $0.01494, and closed at $0.01552 at 12:00 ET. Total volume reached 16.1M, with $244.4K in notional turnover over the 24-hour period.
Structure & Formations
XAIUSDT displayed a strong bearish reversal pattern at $0.01514 in late afternoon, followed by a
bullish engulfing pattern at $0.0151–0.01518 that capped a morning decline. A doji at $0.01503 suggested indecision near a key 61.8% Fibonacci retracement level. Price found support at $0.01505 and reversed sharply, forming a potential short-term base ahead of $0.01515.
Technical Indicators
The 20-period and 50-period moving averages on the 5-minute chart converged near $0.01515, with price closing above both, signaling short-term bullish momentum. The 50-period daily MA is at $0.01509, and XAIUSDT has remained above it for the last three sessions. RSI bottomed at 27 during the afternoon dip before rising into neutral territory. MACD showed a bullish crossover late session, reinforcing a potential short-term rebound.
Bollinger Bands and Volatility
Volatility expanded sharply in the final hours of the session, with the upper Bollinger Band reaching $0.01555 and the lower band near $0.01497. Price closed near the upper band, indicating a reacceleration in momentum toward the end of the 24-hour window.
Volume and Turnover
Volume surged to over 1.8M at 17:45 ET, confirming a sharp pullback from the $0.01515 level. Turnover increased in tandem, with no major price-turnover divergence observed. A second large volume spike at 08:30 ET pushed price to a new high of $0.01555, with strong buying pressure evident.
Fibonacci Retracements
A 38.2% retracement of the recent $0.01494–$0.01555 swing is at $0.01517, where a small bullish reversal formed. The 61.8% retracement at $0.01505 acted as key support, with price bouncing off it after a mid-session dip. A daily Fibonacci level from a $0.0145–$0.0160 range is at $0.01528, aligning with the 50-period MA and offering potential near-term resistance.
XAIUSDT appears to be consolidating above key support at $0.01505, with technical indicators pointing to a possible continuation of the recent bullish momentum. However, a break below $0.01505 could trigger a retest of $0.01494, which may see renewed selling pressure. Investors should closely watch the 50-period MA and 61.8% Fibonacci level as potential pivot points over the next 24 hours.
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