Market Overview for FUNToken/Tether (FUNUSDT) – 24-Hour Analysis as of 2025-10-06

• Price dropped 10.1% from 0.009081 to 0.008907 amid heavy bearish momentum in the 24-hour window.
• RSI signaled oversold conditions near 30, while volume surged during sharp declines.
• Key support at 0.00885–0.00888 tested multiple times; resistance stalled at 0.00908–0.00911.
• Volatility expanded as price swung through 0.009115 to 0.008773, with Bollinger Bands widening.
• A bearish engulfing pattern emerged at 0.00905–0.00901, followed by a bear trap at 0.008933–0.008842.

24-Hour Price Summary

FUNToken/Tether (FUNUSDT) opened at 0.009081 at 12:00 ET − 1, reaching a high of 0.009115 before settling at 0.008907 by 12:00 ET. The pair recorded a 24-hour low of 0.008773. Total volume traded was 323,970,589 FUN, with a notional turnover of approximately $2,946,716 (at USD equivalent using close prices).

Structure & Formations

Price action revealed a strong bearish trend characterized by multiple bearish engulfing patterns and a failed bullish bounce near 0.00893–0.00894. The most significant formation was a bearish engulfing pattern between 0.00905 and 0.00901. A doji appeared near 0.008835, indicating indecision, while key support levels at 0.00885–0.00888 were repeatedly tested and held. Resistance levels at 0.00908–0.00911 stalled bullish attempts.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA both trended downward, maintaining bearish control throughout the day. On the daily timeframe, the 50DMA and 200DMA were not directly relevant due to the shorter analysis window, but the broader bearish bias is clear. Price consistently closed below both moving averages, reinforcing the downtrend.

MACD & RSI

The 15-minute MACD remained in negative territory with a bearish crossover, indicating sustained selling pressure. RSI dropped below 30 during the decline from 0.00908 to 0.00884, suggesting oversold conditions. However, the price failed to rebound decisively, implying exhaustion in the short-term bulls.

Bollinger Bands

Volatility increased significantly as price moved between the outer bands, especially between 0.00894 and 0.008773. The lower band acted as a temporary floor, with the price bouncing off it in several instances. This expansion of the bands signaled heightened uncertainty and potential for further consolidation.

Volume & Turnover

Volume spiked during sharp declines, particularly during the 22:15 ET and 23:15 ET candles, which saw 8,438,635 and 6,441,318 FUN traded respectively. Notional turnover aligned with volume spikes, confirming the bearish momentum. A divergence between price and volume was observed during the attempted bounce at 0.00893–0.00894, where volume failed to confirm strength.

Fibonacci Retracements

Applying Fibonacci to the recent swing high (0.009115) and low (0.008773), the 38.2% retracement level at 0.00896 and the 61.8% at 0.00888 acted as psychological levels. Price repeatedly tested the 61.8% level before consolidating near it. The 50% level at 0.00894 was briefly challenged but failed to hold.

Backtest Hypothesis

A potential backtesting strategy could involve a Fibonacci-based mean reversion approach, targeting short-term bounces from the 61.8% level (0.00888) with a stop below the 78.6% level (0.00881). Given the current structure and RSI readings, this could serve as a semi-automated trade setup, with position sizing adjusted for risk tolerance.