Market Overview for Blur/Tether (BLURUSDT)

• BLURUSDT rose from 0.0465 to 0.04805, closing 0.048 at 12:00 ET, with key support at 0.0455–0.0465 and resistance at 0.0480–0.0485.
• Price formed a bullish breakout pattern at 0.04805 on heavy volume and turnover, confirming upward momentum.
• RSI entered overbought territory (68–70), while MACD crossed above zero, signaling potential continuation or pullback.
• Volatility expanded after 07:00 ET, with price inside the Bollinger Band midline, suggesting bullish exhaustion risk.
• Volume and turnover were concentrated in the 09:00–12:00 ET window, supporting strong accumulation at higher levels.

The Blur/Tether (BLURUSDT) pair opened at 0.0465 on 2025-10-31 at 12:00 ET and closed at 0.0480 at 12:00 ET on 2025-11-01. Price reached a high of 0.04805 and a low of 0.04555. Total volume was 5.45 million BLUR, and notional turnover was approximately $262,650, reflecting increased bullish conviction over the past 24 hours.

Price action unfolded in a classic breakout pattern, forming a base between 0.0460–0.0470 followed by a strong rally above 0.0480. The 15-minute chart showed a key support zone at 0.0455–0.0465 and a resistance cluster at 0.0480–0.0485. A bullish engulfing pattern formed on the candle ending at 09:00 ET, suggesting a potential reversal from a downtrend. Additionally, a doji appeared at 13:45 ET, hinting at a possible pause in upward momentum.

Structure & Formations

The price action displayed several key levels and patterns. A strong support zone was evident between 0.0455 and 0.0465, where price bounced multiple times over the first half of the 24-hour period. This level acted as a psychological floor, preventing further downside. On the upside, resistance developed at 0.0480–0.0485, with price briefly testing this area and consolidating around 0.04803 at the end of the period. The bullish engulfing pattern at 09:00 ET suggested a reversal from a bearish phase into a strong upward move. A doji formed at 13:45 ET, signaling indecision and potential consolidation ahead.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover, with the 20-period MA above the 50-period MA since approximately 07:30 ET. Price was above both moving averages for the majority of the period, indicating a strong uptrend. On the daily chart, the 50-period MA was above the 200-period MA, suggesting a medium-term bullish bias. The 100-period MA was close to the 200-period MA, indicating a potential flattening in the longer-term trend.

MACD & RSI

The MACD crossed above zero at 07:00 ET and remained positive for most of the period, confirming the bullish momentum. The histogram showed expansion after 09:00 ET, suggesting increased buying pressure. However, the RSI moved into overbought territory (68–70) after 09:00 ET, indicating a possible risk of a pullback. A bearish divergence was noted between the RSI and price between 13:00 and 14:00 ET, with price making a higher high while RSI failed to do so—this could signal exhaustion in the short-term rally.

Bollinger Bands

Volatility expanded significantly after 07:00 ET, with the upper band moving up and the lower band stabilizing around 0.0455. Price spent most of the period above the midline of the Bollinger Bands, suggesting continued bullish pressure. However, the narrowing of the bands at the end of the period may indicate a potential consolidation phase or a short-term reversal.

Volume & Turnover

Volume and notional turnover were concentrated in two key windows: 09:00–12:00 ET and 14:00–15:00 ET. During the 09:00–12:00 ET window, volume exceeded 3 million BLUR, and turnover surpassed $130,000. This volume was accompanied by a sharp price increase, confirming the bullish breakout. A second wave of volume occurred between 14:00–15:00 ET but did not result in a proportional increase in price, suggesting some exhaustion in the buying pressure. Price and volume were in alignment during the first wave but showed a divergence in the second.

Fibonacci Retracements

Fibonacci levels were applied to the 0.04555–0.04805 range. The 38.2% retracement level was at 0.04684, which held briefly as a minor resistance. The 61.8% retracement level was at 0.04733, which was tested but not held. Price then broke above 0.0480, moving beyond the full Fibonacci structure, suggesting a continuation of the bullish trend.

Backtest Hypothesis

Given the availability of 15-minute OHLCV data and the need for MACD, a local backtest using the raw price series is a feasible alternative. The MACD (12, 26, 9) and RSI (14) can be computed using the provided data, enabling the simulation of a momentum-based strategy. The strategy would enter long positions when MACD crosses above zero and RSI is below 30, and exit when MACD crosses below zero or RSI exceeds 70. This approach aligns with the observed bullish engulfing and divergence patterns. Using this data-driven framework, a backtest can be constructed to evaluate the strategy’s performance over the last 24 hours.