Market Overview: Blur/Tether (BLURUSDT) – 24-Hour Technical Breakdown

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• Price dropped 8.9% over 24 hours, closing near the session low amid bearish continuation patterns and a strong volume spike.
• Momentum weakened with RSI falling below 30, indicating oversold territory, but divergence between volume and price raises caution.
• Bollinger Bands narrowed during consolidation, followed by a sharp price breakdown, suggesting increased volatility and bearish bias.
• Volume surged 3.6x above average during the 6:15–6:30 ET selloff, marking the most liquid 15-minute interval.
• Fibonacci support at 0.0758–0.0762 stalled the bounce, reinforcing the bearish bias as price failed to reclaim key retracement levels.

Blur/Tether (BLURUSDT) opened at $0.08486 on 2025-09-21 at 12:00 ET and closed at $0.07562 at 12:00 ET on 2025-09-22, with an intraday high of $0.08517 and a low of $0.07481. Total traded volume was 19,962,234.5 and notional turnover amounted to $1,597,837.5, reflecting heightened bearish momentum.

Over the 24-hour period, the price formed a bearish continuation pattern, with key support at $0.0758–0.0762 and resistance at $0.0765–0.0770. A large 15-minute bearish candle with a long lower wick at 06:15 ET marked a critical breakdown after consolidation, confirming the bearish bias. Doji and spinning tops later appeared near $0.0760–0.0763, signaling indecision.

Bollinger Bands showed a narrow contraction during the 5–7 AM ET consolidation, followed by a sharp move downward that saw the price break below the lower band at $0.0756. The 20-period and 50-period moving averages both remained above the price, reinforcing a bearish bias. A 50-period MA crossover below the 20-period MA could indicate increasing bearish control.

The RSI dropped to 30, entering oversold territory, while MACD crossed below zero into negative territory, reflecting weak bullish momentum. However, the divergence between price and RSI during the afternoon bounce suggests a potential short-term rebound could follow, though confirmation is required above $0.0765.

Volume spiked dramatically during the 6:15–6:30 ET 15-minute interval, with over 8.7 million in traded volume. This was accompanied by a $0.07837 to $0.0766 close, signaling strong bearish pressure. However, volume during the attempted bounce later in the day remained muted, indicating a lack of conviction in the short-term rebound. The $0.0756–0.0759 range coincided with the 61.8% Fibonacci retracement level of the initial move down, suggesting a potential short-term support zone.

Fibonacci retracements applied to the 0.08486–0.07562 swing showed key levels at 0.0782 (61.8%) and 0.0759 (38.2%), both of which were tested but failed to hold. The price appears likely to remain in a bearish channel for the next 24 hours, with a potential test of the 0.074–0.075 psychological support area. Traders should closely monitor the 0.0765–0.0770 range for signs of a reversal, as a break above this level could rekindle bullish momentum.