Harmony/Tether USDt (ONEUSDT) Market Overview: Strong Rally and Key Technical Levels Emerge

• Price surged ~2.7% in 24 hours on strong momentum and rising volume, hitting a high of $0.01098.
• Key resistance appears at $0.01095–0.01100, with support likely at $0.01075–0.01080.
• RSI indicates overbought conditions after a sharp rally, while Bollinger Bands show moderate expansion.
• Volume increased significantly during the late ET hours, confirming bullish price action.

The Harmony/Tether USDt (ONEUSDT) pair opened at $0.01054 at 12:00 ET–1 and surged to a high of $0.01098 by 13:15 ET today, closing the 24-hour period at $0.01088 at 12:00 ET. The total trading volume amounted to approximately 95,844,868.55 USDt, while the notional turnover (price × volume) was $10,228,514.49.

Structure & Formations

Price formed a bullish breakout above a prior consolidation range from $0.01065–0.01073, confirmed by strong volume. A strong bull engulfing pattern emerged around 13:15 ET when ONEUSDT surged from $0.01087 to $0.01098. Key support levels appear at $0.01075–0.01080 and $0.01065–0.01070, with $0.01055–0.01060 as a final level. Resistance is now at $0.01095–0.01100, followed by $0.01105–0.01110, with a potential breakdown trigger if the price closes below $0.01075.

Moving Averages

On the 15-minute chart, the 20-EMA (Exponential Moving Average) and 50-EMA have both crossed above the price, providing immediate bullish support. The daily chart’s 50-EMA is at ~$0.01072, while the 100- and 200-day EMAs sit at $0.01068 and $0.01060, respectively. Price remains above all three, indicating a longer-term bullish bias.

MACD & RSI

The MACD line has turned sharply upward, with a positive divergence forming as price action and the histogram diverge slightly in the morning. RSI reached 68–70 by late afternoon ET, suggesting overbought conditions, though this may persist if volume remains strong. A retest of the 55–60 RSI level is likely before any meaningful correction emerges.

Bollinger Bands

Price has pushed out of a recent contraction in the Bollinger Bands and is now sitting near the upper band, indicating increased volatility and strong bullish momentum. A sustained close above the upper band could signal a new bullish phase, but traders should monitor for a potential pullback toward the midline ($0.01084) as a potential support/resistance pivot.

Volume & Turnover

Volume has increased sharply during the past 8 hours, especially between 13:00–14:30 ET, with a notable peak at 13:15 ET when the price hit $0.01098. Notional turnover mirrored this, with the $0.01098 high coinciding with a 458,361.2 USDt turnover. No significant divergence is seen between price and volume, suggesting strong conviction in the rally.

Fibonacci Retracements

From the recent low of $0.01054 to the high of $0.01098, key Fibonacci levels are at 38.2% ($0.01079), 50% ($0.01076), and 61.8% ($0.01073). Price is currently testing the 61.8% level at $0.01076, with potential support at 50% ahead. A break below 61.8% could lead to a retest of the 38.2% level, with $0.01065 as a final Fibonacci pivot.

Backtest Hypothesis

A potential backtesting strategy could involve entering a long position when the 15-minute RSI crosses above 55 and the 20-EMA crosses above the 50-EMA, with a stop-loss at the 61.8% Fibonacci level. A profit target could be set at the next Fibonacci extension level or above $0.01095. This approach aligns with the current bullish setup, leveraging momentum and trend alignment. Traders should be cautious of a potential overbought RSI and volatility decay, which may signal a pullback before a sustained move higher.