Market Overview for Compound/Tether (COMPUSDT) on 2025-12-23

Summary
• Price formed a bullish engulfing pattern at 24.32–24.43 after a sharp 9.4% drop.
• RSI reached oversold levels below 30, suggesting potential for a rebound.
• Volume spiked during the 22:00–23:30 ET rebound, confirming short-term reversal.
• COMPUSDT traded within a 24.11–24.70 range with strong support at 24.11 and resistance at 24.69.
• Bollinger Bands contracted before the 24.35 breakout, indicating a potential trend reversal.

24-Hour Market Summary

At 12:00 ET–1 on 2025-12-22, Compound/Tether (COMPUSDT) opened at $24.29, reached a high of $24.75, and closed at $24.19 at 12:00 ET on 2025-12-23 after trading as low as $23.88. Total volume was 40,939.274 and turnover was $1,018,425.

Structure & Formations

The price action displayed a strong bearish trend between 22:00 and 22:45 ET, with a 9.4% drop to 23.90. A bullish engulfing pattern formed at 24.32–24.43 around 23:30–00:15 ET, suggesting short-term buyers regained control. A key support level emerged at 24.11, which held on multiple retests, and a resistance zone developed around 24.69–24.75.

Moving Averages

On the 5-minute chart, the price closed below the 20-period (24.44) and 50-period (24.47) moving averages. On the daily chart, the price held above the 50-period (24.29) and 200-period (24.18) lines, indicating a mixed trend.

Momentum & Volatility

RSI dropped below 30 at 24.19, signaling oversold conditions and potential for a bounce. MACD crossed zero to the downside, confirming bearish momentum, but a histogram divergence appeared after 05:00 ET. Bollinger Bands showed a 24.35–24.47 contraction before the 24.32–24.43 breakout, suggesting a likely trend reversal.

Volume & Turnover

Volume spiked to 5,241.932 at 10:45 ET, coinciding with the 24.40–24.69 rebound. Turnover increased 1.3x from $1,200 to $1,560 at that time. A divergence occurred between 02:45 and 03:00 ET when price dropped to 24.25 but volume stayed low, indicating weak bearish conviction.

Fibonacci Retracements

The 5-minute retracement from 24.75 to 23.88 identified key levels at 24.44 (61.8%) and 24.29 (50%). On the daily chart, a 24.69–24.11 move highlighted 24.35 (38.2%) as a probable bounce zone.

The price may test 24.11–24.13 as its final support in the short term, with a break below increasing the likelihood of a 23.88–24.05 extension. Traders should monitor the 24.69–24.75 level for potential resumption of the previous upward trend, though a reversal into bearish territory remains possible.