Market Overview for Highstreet/Tether (HIGHUSDT)

• Price action showed a bullish reversal after a sharp pullback below 0.31
• RSI reached oversold levels before rebounding, suggesting short-term exhaustion in selling
• Volatility expanded in the final 4 hours, with volume increasing 2x from earlier in the session
• Bollinger Bands widened post-09:00 ET, confirming breakout potential from key support
• MACD turned positive in the final 6 hours, signaling renewed short-term bullish momentum

Opening Analysis

Highstreet/Tether (HIGHUSDT) opened at 0.318 on 2025-10-11 at 12:00 ET and closed at 0.319 at 12:00 ET on 2025-10-12 after reaching a high of 0.335 and a low of 0.302. Total volume over the 24-hour period was 1,281,786.36, and notional turnover was approximately $411,895. The pair appears to have found strong support near 0.31 and is consolidating above the 0.32 threshold in the final 6 hours.

Structure & Formations

The price structure shows a clear short-term support zone forming between 0.31 and 0.315, where multiple bullish reversal patterns emerged. A morning pullback to 0.309 was met with strong buying, forming a hammer at 0.302, which was followed by a bullish engulfing pattern between 0.303 and 0.306. The afternoon session saw a bearish divergence forming at the 0.322 high, but this was negated by a strong bullish engulfing formation at 0.32–0.321. The evening into night saw a consolidation pattern forming above 0.32, with a strong doji near 0.321 suggesting indecision and potential for a breakout.

Moving Averages and Momentum

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the final 4 hours of the session, suggesting a short-term bullish bias. The 50-period MA on the daily chart is still below the 200-period MA, indicating a broader bearish trend. However, the 50-period MA has begun to turn upward and could cross above the 100-period MA in the next 24 hours, which would confirm a medium-term reversal.

The MACD line turned positive at 09:00 ET and has remained above the signal line through the close, indicating increasing bullish momentum. RSI dropped to 26 in the morning before bouncing off and closing near 48, suggesting the pair is no longer in oversold territory and may consolidate before attempting another move higher.

Volatility and Volume Analysis

Bollinger Bands showed a period of contraction between 03:00 and 06:00 ET before expanding as volatility picked up. Price has been trading near the upper band since 09:00 ET, suggesting strong bullish momentum. The 20-period BB width has increased by 15% compared to earlier in the session.

Volume has spiked significantly in the last 4 hours, with the 15:00 ET candle seeing a volume of 196,374.489, which is over 4x the average 15-minute volume in the previous 6 hours. This confirms the recent price action and suggests strong institutional participation. Turnover also increased, aligning with the volume spikes, indicating no signs of price/volume divergence.

Fibonacci Retracements

Fibonacci retracements applied to the 0.302–0.335 swing show that the price has bounced off the 61.8% level at 0.317 and is currently consolidating near the 50% level at 0.3195. The 38.2% retracement at 0.322 acted as resistance earlier in the session but failed to hold after a strong bullish engulfing formation. The daily Fibonacci levels show that the 61.8% retracement of the 0.309–0.322 swing is at 0.315, and the price has held above this level for most of the day, indicating strong support.

Backtest Hypothesis

Applying a backtesting strategy based on the recent bullish engulfing patterns and RSI divergence could yield profitable results. A potential entry rule could be: "Buy on a close above the high of the engulfing candle, with a stop below the low of the prior bearish candle, and a take-profit at the 38.2–50% Fibonacci retracement level." Given HIGHUSDT's behavior in the 24-hour window, this strategy appears to align with the observed momentum and structure. Using MACD and RSI to filter false breakouts would add a layer of risk management, especially in volatile sessions like the ones seen in the early evening.