Market Overview: First Digital USD/Tether (FDUSDUSDT) - 2025-11-13

Summary
• Price action remained tightly range-bound near 0.9974-0.9975.
• Volume and turnover were moderate without clear spikes.
• No strong breakout or reversal patterns were confirmed.
• Momentum indicators showed a neutral bias.
• Volatility was compressed within Bollinger Bands.

First Digital USD/Tether (FDUSDUSDT) opened at 0.9974 on 2025-11-13 (12:00 ET – 1), reaching a high of 0.9979 and a low of 0.9973 before closing at 0.9974 by 12:00 ET. Total traded volume over 24 hours stood at approximately 154,065,361.0, with a notional turnover of 153,420,169.0 USD. The price action remains within a narrow consolidation range, showing a lack of conviction for a directional breakout.

Structure & Formations

The 24-hour OHLCV data reveals a tight trading range between 0.9973 and 0.9979, with price repeatedly testing the upper resistance at 0.9975 and the support at 0.9974. No clear bearish or bullish engulfing patterns were formed, though a few long lower shadows were observed near the key support level, suggesting a temporary buying interest. A doji-like pattern appeared around 06:45 ET (2025-11-13), indicating a possible indecision in the market.

Moving Averages

Using a 20-period and 50-period moving average on the 15-minute chart, the 20-period line is slightly above the 50-period line, indicating a mild positive bias. However, given the low volatility, these lines remain tightly clustered, and their divergence is minimal. For the daily chart, if calculated, the 50-day and 200-day lines would likely remain flat due to the stable price environment, which is consistent with a low-risk, stable peg-like asset.

MACD & RSI

The 24-hour MACD histogram showed a flat trend with minimal divergence between the MACD line and the signal line. RSI readings remained in the mid-range (around 50), reflecting a balanced market without overbought or oversold conditions. This suggests that neither buyers nor sellers have taken control in a significant way, keeping the market in a neutral state.

Bollinger Bands

Price action remained tightly contained within the Bollinger Bands, with the midline hovering close to 0.9974. Volatility remained compressed throughout the day, with no clear signs of a breakout. The narrow band width suggests limited price fluctuations, which is typical for stablecoins or pegged assets like FDUSDUSDT during non-event days.

Volume & Turnover

Volume was steady but without notable spikes, averaging between 1.5M and 20M per candle. Notional turnover followed a similar pattern, with no clear divergence between price and volume. The consistent volume profile suggests a stable, institutional-grade trading environment with minimal speculative activity.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.9973 to 0.9979, the 50% level at 0.9976 acted as a temporary resistance and support zone. Price tested this level multiple times but failed to break decisively above or below, indicating the market is range-bound. The 61.8% level at 0.9977 also showed brief resistance in the early morning hours.

Backtest Hypothesis

A potential backtest using the “Bullish Engulfing” candlestick pattern on FDUSDUSDT would likely yield minimal actionable signals, given the asset’s stable nature and low volatility. In a higher-volatility environment, this pattern could serve as a buy signal if formed at key support levels. However, due to the peg-like behavior of FDUSDUSDT, it is unlikely to provide meaningful alpha in the short term. For a viable backtest, a more volatile asset would be better suited.