Market Overview for Avantis/Tether (AVNTUSDT)

• Price declined from 0.6757 to 0.6604, showing bearish momentum on a 15-min chart.
• Key support tested at 0.6447, with volume surging as price approached this level.
• Volatility expanded during the overnight session, with a high of 0.699 at 04:15 ET.
• RSI and MACD not available due to missing data, but price appears to be consolidating above key support.
• On-chain activity and volume suggest cautious optimism for a potential rebound.

15-Minute Price Action and Structure

Avantis/Tether (AVNTUSDT) opened at 0.6757 at 12:00 ET-1 and reached a high of 0.68 before trending lower. The pair closed at 0.6604 at 12:00 ET, having traded as low as 0.6432. Over the 24-hour period, the total volume amounted to 16,464,984.6 units, with a notional turnover of approximately $10,568,504 (calculated as sum of volume × close). Price action revealed a descending channel, with bearish bias reinforcing support levels around 0.6447 and 0.6500. A bearish engulfing pattern formed around 19:30 ET on 2025-10-31, signaling potential continuation of the downward move.

Support and Resistance Levels

Key support levels appear at 0.6447, 0.6500, and 0.6570, while resistance is visible at 0.6604 and 0.6651. A bullish reversal pattern (hammer) formed near 0.6447, suggesting potential accumulation. On the daily chart, 20- and 50-period moving averages (15-min chart) show downward bias, while the 200-period daily MA appears to be acting as dynamic resistance. The price currently resides within a moderate contraction phase, with Bollinger Bands showing tightening volatility.

Volume and Turnover Dynamics

Volume spiked notably around 04:15 ET and 04:45 ET, during the price’s high of 0.699 and pullback to 0.6943. Turnover increased in tandem, indicating stronger conviction during those sessions. However, volume has moderated as the price approaches 0.6447–0.6480, suggesting a potential consolidation phase. A divergence between price and volume is yet to materialize but remains under close watch as a potential reversal signal.

Backtest Hypothesis

The backtest hypothesis described in the provided text involves using RSI data to generate entry and exit signals (e.g., RSI > 70 for overbought conditions). However, the RSI data for AVNTUSDT could not be retrieved due to an error indicating the ticker is unrecognized by the data source. To proceed with the backtest and derive performance metrics (e.g., win rate, Sharpe ratio, drawdowns), the correct symbol must first be confirmed. Once verified, a 1-day holding strategy using RSI > 70 as a sell signal and RSI < 30 as a buy signal can be implemented across the historical period. This would align with the observed price dynamics and potentially confirm the current bearish bias or suggest a strategic entry point near support.