Decentraland/Tether USDt Market Overview (2025-09-06)

• Price action trended lower, forming a bearish continuation pattern from a 0.3242 swing high to 0.3112 swing low.
• Momentum weakened with RSI dipping toward oversold territory, though volume remained moderate.
• Volatility expanded as the pair broke below the lower Bollinger Band, suggesting bearish exhaustion.
• Notional turnover spiked after the 0.3209–0.3192 retracement, showing some short-term accumulation.
• Key support levels at 0.3180–0.3160 appear to have failed, with price breaking below for the first time in recent cycles.

The MANAUSDT pair opened at 0.3197 on 2025-09-05 12:00 ET and closed at 0.3129 on 2025-09-06 12:00 ET. The 24-hour range spanned 0.3242 (high) to 0.3112 (low). Total volume amounted to 13,076,724.0, and notional turnover stood at approximately $4,161,850.42. Price action remained bearish for the second consecutive day, with key support and momentum indicators coming under pressure.

Structure & Formations

Price action formed a descending triangle pattern from the 0.3242 swing high to the 0.3112 swing low, indicating a bearish bias. The 0.3180–0.3160 range appears to be a key area of psychological support, but it was decisively broken on the 24th and 48th candles. A notable bearish engulfing pattern appeared at 0.3186–0.3163, signaling a continuation of the downward trend. A doji formed at 0.3157–0.3157 during the early hours of 2025-09-06, suggesting hesitation from short-sellers.

Moving Averages & MACD / RSI

On the 15-minute chart, the 20-period and 50-period moving averages are bearishly aligned, with the 20-period line dipping below the 50-period line in a death cross. The 50-period MA currently sits around 0.3165, and the 20-period MA at 0.3152. MACD remains bearish with a negative histogram and a crossover in late-ET hours. RSI has dipped to 28, suggesting short-term oversold conditions, though divergence with price remains unconfirmed.

Bollinger Bands & Fibonacci Retracements

Volatility increased significantly as the price broke below the lower Bollinger Band during the 24th to 36th candles, signaling bearish exhaustion. The 0.3112 swing low corresponds to the 61.8% Fibonacci retracement of the 0.3242–0.3112 move. The 0.3160–0.3180 range represents the 38.2% retracement and could serve as a potential area of accumulation or reversal.

Volume & Turnover

Volume and turnover remained moderately elevated throughout the session, with the most significant spikes occurring around the 24th and 48th candles (0.3186–0.3163 and 0.3149–0.3133). The price / turnover correlation remains positive, indicating alignment between price action and buying / selling pressure. However, a divergence between RSI and price during the 48th to 60th candles suggests a potential short-term bottom could be forming.

Backtest Hypothesis

A potential backtesting strategy could involve identifying key Fibonacci retracement levels during bearish trends and using RSI divergence as a trigger for reversal trades. The 38.2% and 61.8% levels appear to offer strong confluence with price patterns and can act as dynamic entry points. When combined with a confirmed close above the 50-period moving average and a bullish divergence in RSI, such a strategy could be backtested to evaluate its effectiveness in capturing short-term bounces from major support levels.