Market Overview for Harmony/Tether USDt (ONEUSDT)

• Price declined from a peak of $0.01015 to a 24-hour low of $0.00993, closing at $0.00998.
• RSI approached oversold territory, while volume surged during key selloffs.
• A bearish engulfing pattern emerged in early hours, followed by consolidation near key support.
• Volatility expanded in the final hours, with price rebounding off 0.00995.
• Fibonacci retracement levels highlighted potential reversal triggers near 0.01005–0.01010.

The Harmony/Tether USDt (ONEUSDT) pair opened at $0.01001 on 2025-09-05 at 12:00 ET, reached a high of $0.01015, a low of $0.00993, and closed at $0.00998 by 12:00 ET on 2025-09-06. The 24-hour volume was approximately 37.4 million ONE, with a notional turnover of $3.82 million.

Structure & Formations

The 24-hour period featured a bearish reversal pattern early in the session, with a strong bearish engulfing candle at $0.01010. Later, the price found support at $0.00995 and consolidated in a narrow range. A doji appeared at $0.00998 near the close, signaling indecision and potential consolidation. Key resistances appear at $0.01005 and $0.01010, while support holds at $0.00995 and $0.00993. A potential breakout or breakdown could trigger further momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below the price in the afternoon, reinforcing bearish momentum. Daily timeframes showed the 50-period MA at $0.01003 and the 200-period MA at $0.01008, indicating a bearish bias in the short to medium term. Price closed below both the 50- and 200-period MAs, reinforcing a downtrend bias.

MACD & RSI

The MACD turned bearish in the afternoon, with the histogram shrinking as price consolidated. RSI fell to 31, nearing oversold territory, suggesting a potential bounce. However, the RSI divergence from price action suggests caution; a failure to break above 50 could lead to further declines. Momentum appears to be weakening after the initial sell-off, with buyers entering only at key levels.

Bollinger Bands

Volatility expanded in the afternoon as price fell to the lower band, reaching $0.00993. The upper band remained around $0.01014, and price spent most of the day below the midline. A contraction in band width occurred earlier in the morning, followed by an expansion, suggesting a breakout may be imminent. Price could find near-term direction depending on its ability to retest the lower or upper bands.

Volume & Turnover

Volume spiked during the early sell-off in the afternoon, with over 2.7 million ONE traded in a single 15-minute period. Notional turnover also increased during this phase, confirming bearish pressure. However, volume tapered off as price consolidated, indicating a lack of follow-through from sellers. A divergence between price and volume suggests caution; buyers may yet step in if support holds.

Fibonacci Retracements

On the 15-minute chart, price retreated to the 61.8% Fibonacci retracement level of the morning rally, currently at $0.00997, before stabilizing. Daily retracement levels from the recent $0.01015 high to the $0.00993 low highlight key levels at $0.01005 (38.2%) and $0.01000 (61.8%). These levels could act as pivot points for near-term direction, especially if the 0.01005 level is retested.

Backtest Hypothesis

Given the current price structure, a potential backtesting strategy could focus on mean reversion trades during Bollinger Band expansions. A long bias could be entered when price closes above the 61.8% Fibonacci level at $0.01000 with confirmation from the 20-period MA crossing above the 50-period MA. A stop-loss could be placed below the recent support at $0.00993, with a take-profit target near the 38.2% retracement at $0.01005. This approach leverages both trend confirmation and overbought/oversold dynamics for a high-probability setup in volatile environments.