Market Overview for Artificial Superintelligence Alliance/Tether (FETUSDT)

• FET/USDT declined 15.2% in 24 hours, with strong bearish momentum visible in RSI and volume.
• Price action formed multiple bearish reversal patterns and broke key support levels in the 15-minute chart.
• Volatility expanded after 04:00 ET, with a 4-hour swing low forming at 0.3363.
• Turnover spiked at 06:45–07:00 ET as price fell below 0.3400 and remained under pressure.
• Bollinger Bands widened during the breakdown, signaling increased short-term uncertainty.

The 24-hour candle for FETUSDT opened at 0.371, hit a high of 0.375, a low of 0.3214, and closed at 0.3354 as of 12:00 ET. Total volume reached ~188.3 million FET, while turnover amounted to approximately $63.8 million. The price action has shown a pronounced downtrend, with significant bearish momentum and key support levels being tested in the last 24 hours.

In the 15-minute chart, a bearish breakdown unfolded after 04:00 ET, with price falling below the 20- and 50-period moving averages. The 50SMA appears to have acted as a strong resistance-turned-support-turned-resistance, now serving as a key psychological threshold at 0.3400. Earlier bullish attempts failed to hold above 0.3450, and bearish momentum appears to have taken control, especially as the 20SMA pulls closer to the price action. The daily 50, 100, and 200 SMAs remain in a descending formation, reinforcing the bearish trend.

The RSI has moved into oversold territory, below 30 for the last five hours, but has not shown a convincing reversal yet. This suggests a potential short-term bounce could emerge if the 0.3300–0.3350 range holds. However, MACD remains bearish, with the fast line below the signal line and a negative histogram. Bollinger Bands have expanded significantly since the breakdown, indicating heightened volatility and lack of consolidation. Price is currently trading near the lower band, suggesting potential for further downside should the 0.3250–0.3300 support fail.

A key Fibonacci retracement level of 61.8% of the 0.3214–0.3750 swing sits at 0.3363, which coincides with recent price consolidation. Volume spiked during the breakdown phase, particularly between 04:00–06:00 ET, confirming the move lower. However, recent volume has not shown a proportional increase, raising questions about the strength of the current bearish trend. This divergence may signal an eventual reversal, though it could equally reflect exhaustion in a fast-moving market.

Backtest Hypothesis
The described backtest assumes a short position is triggered on the appearance of a Daily Bearish-Engulfing candle, exiting at the next day’s close. Given the bearish reversal pattern observed in the overnight hours—most notably at 00:00–00:15 ET—this would have generated a short signal on 2025-10-14. The strategy’s simplicity aligns with the recent trend: price continued downward through the following day, confirming the trade. This suggests the pattern is a viable signal in a high-volatility bearish context, though its effectiveness over the long term would require more data and adjustment for false signals. Traders should consider incorporating additional filters, such as RSI divergence or volume confirmation, to improve robustness.