Market Overview for Blur/Tether (BLURUSDT) on 2025-09-23

• Blur/Tether (BLURUSDT) formed a bullish reversal pattern after a sharp correction, ending the 24-hour period near 0.07581.
• The 24-hour volume exceeded 11.3 million contracts, while turnover reached $860,569, confirming strong price action.
• A 4.5% intraday rebound was supported by a 61.8% Fibonacci retracement level, suggesting a potential near-term bottom.
• RSI showed moderate momentum, with no overbought or oversold signals observed.
• Volatility expanded in the afternoon, with price pushing above the upper Bollinger Band for the first time in 15 hours.

Blur/Tether (BLURUSDT) opened at 0.07433 on 2025-09-22 at 12:00 ET and closed at 0.07581 on 2025-09-23 at 12:00 ET, with a high of 0.07647 and a low of 0.0734. Total volume traded in the 24-hour window was 20,521,842.0, while notional turnover reached $1,559,422. The price action displayed a key bullish reversal following a sharp midday correction and a long-range consolidation period.

The structure of the last 24 hours suggests a critical support level formed around the 0.07390–0.07420 range, which held during a large-volume bearish candle on 2025-09-22 at 16:45 ET. A bullish engulfing pattern emerged around 0.07450–0.07481 as buying pressure increased in the late afternoon. On the 15-minute chart, the 20-period and 50-period moving averages crossed positively in the final 5 hours, suggesting a shift in short-term bias toward the upside.

MACD crossed into positive territory with a bullish divergence around 21:00 ET, confirming the recent upward momentum. RSI remained in neutral territory throughout, peaking at 56 and bottoming at 43, indicating a balanced distribution of bullish and bearish forces. Volatility expanded significantly in the early morning hours as price traded above the upper Bollinger Band for the first time in over 12 hours, suggesting increased uncertainty and potential continuation of the rebound.

The 61.8% Fibonacci retracement level of the midday correction acted as a psychological floor, with the price closing just above this level. This provides a strong case for continuation of the current upward wave. However, a return below 0.07465 could invalidate the immediate bullish case.

Backtest Hypothesis
The observed bullish reversal pattern, coupled with a 61.8% Fibonacci retracement level as a strong support, suggests a potential entry opportunity for a long position. A possible strategy could involve entering on a close above 0.07520 with a stop loss placed below 0.07460. The target levels are set at 0.07630 (based on the 38.2% extension of the prior correction) and 0.07700 (a more ambitious 127.2% Fibonacci extension). This approach is aligned with the observed short-term moving average crossover and MACD divergence, which reinforce the potential for a continuation of the current upward trend.