Market Overview for Harmony/Tether (ONEUSDT) as of 2025-10-22

• Harmony/Tether (ONEUSDT) closed lower at 0.00648 after opening at 0.00696 and reaching an intraday high of 0.00702.
• Key support was tested at 0.00644–0.00645, with a 15-minute candle showing bearish momentum and a potential breakdown.
• Volume expanded significantly during the 21:30–23:30 ET window, confirming bearish price action during a sharp correction.
• RSI-14 hovered near oversold levels by 04:45 ET, suggesting a potential short-term reversal may be near.
• Bollinger Bands showed a period of tightening volatility before the price broke decisively below the lower band, indicating distribution.

Price Structure and Candlestick Patterns

Harmony/Tether opened at 0.00696 on 2025-10-21 at 12:00 ET and reached a high of 0.00702 within the first 45 minutes. However, bearish momentum emerged after 17:00 ET, culminating in a sharp correction that saw prices fall to 0.00644 by 23:45 ET. A series of lower highs and lower lows formed a bearish channel, with a 15-minute engulfing pattern visible at 17:00–17:15 ET confirming the shift in sentiment. A bearish doji appeared at 23:15–23:30 ET, signaling exhaustion and a potential short-term reversal. Key support levels were observed near 0.00644–0.00645, where the price consolidated briefly before attempting a modest rebound.

Moving Averages and Momentum

On the 15-minute chart, Harmony/Tether closed below both the 20-period and 50-period moving averages, reinforcing the bearish bias. On the daily timeframe, the 50/100/200 MA lines were not provided, but given the current 15-minute behavior, it is likely that the 50-day MA is below the price, indicating a medium-term downtrend. The MACD histogram showed bearish divergence after 18:00 ET, with the indicator declining while prices attempted to recover. RSI-14 entered the 30–35 range by 04:45 ET, suggesting the pair may be oversold, though this may not yet be enough to trigger a meaningful bounce. Investors should watch for a rejection at the 0.00644–0.00645 level before expecting a potential reversal.

Backtest Hypothesis

A potential RSI-14-based strategy for ONEUSDT could involve entering long positions when RSI drops below 30 and exiting when it rises above 70. Given the current RSI hovering near 30, this could be an entry point for cautious longs. A backtest using the RSI-14 from 2022-01-01 to 2025-10-22 would require accurate historical data for the ONEUSDT pair. Once the RSI-14 data is retrieved, the strategy can be backtested to evaluate its effectiveness in trending and range-bound conditions. This approach would help validate whether the recent oversold signal has a strong probability of resulting in a price rebound.