Market Overview for eCash/Tether (XECUSDT) as of 2025-11-06

Summary
• Price traded between $0.00001329 and $0.00001351, down slightly near 12:00 ET.
• Volatility and volume surged after 17:00 ET, with a peak of $0.00001351.
• Turnover peaked during the late ET hours but declined sharply overnight.

Opening Narrative

eCash/Tether (XECUSDT) opened at $0.00001331 on 2025-11-05 at 12:00 ET, reached a high of $0.00001351, and closed at $0.00001345 at 12:00 ET the following day. The 24-hour trading window saw a total volume of 9.17 billion and a notional turnover of approximately $122.2 million.

Structure & Formations

Price action for XECUSDT exhibited a bearish bias overnight with a key support level forming around $0.00001310–$0.00001320. A series of bearish engulfing patterns appeared between 02:00 and 08:00 ET, indicating a strong pullback. A doji formed at 04:45 ET, signaling potential exhaustion in the downtrend. Resistance remains in the $0.00001350–$0.00001360 range, which held during the early session but failed to attract sustained buying pressure.

Moving Averages

On the 15-minute chart, the 20-EMA crossed below the 50-EMA during the late ET hours, signaling a short-term bearish crossover. The 50/100/200 daily averages remain untested, with the 200-day MA acting as a critical psychological level. Price remains above the 200-day MA, suggesting long-term bullish bias is intact.

MACD & RSI

The MACD turned negative in the early morning hours and remained in negative territory, confirming bearish momentum. RSI fell into oversold territory (~25–30) during the 02:00–05:00 ET period but failed to trigger a sustained reversal. The RSI currently sits at ~48, indicating neutral momentum with no clear overbought or oversold signals at the moment.

Bollinger Bands

Volatility expanded during the late ET hours with price hitting the upper band at $0.00001351 before retracting. Overnight, volatility contracted sharply with price trading near the lower band in the $0.00001310–$0.00001330 range, pointing to a potential rebound if buyers step in.

Volume & Turnover

Volume spiked to $9.75 billion at 23:00 ET and again at 07:30 ET, but turnover remained muted after 10:00 ET despite continued price movement. A notable divergence occurred overnight where volume declined while price continued to fall, indicating waning bearish conviction.

Fibonacci Retracements

On the 15-minute chart, the recent swing from $0.00001329 to $0.00001351 saw a 38.2% retrace to $0.00001338 and a 61.8% retrace to $0.00001343. Price has remained within these levels but has yet to break out decisively. Daily retracements from the recent high of $0.00001351 suggest a key level at $0.00001324 (38.2%) and $0.00001304 (61.8%).

Backtest Hypothesis

The backtesting strategy described aims to leverage historical RSI levels to identify potential oversold entry points for XECUSDT. However, due to the reported issue with accessing accurate RSI data for this pair, the strategy cannot be applied directly. To proceed, verifying the correct ticker or using a close substitute is essential. If a similar pair (e.g., BTCUSDT) is used for benchmarking, the strategy could still be refined and tested for performance under similar market conditions. Clarifying the ticker or providing specific dates of interest will enable accurate execution of the backtest.