Market Overview for Highstreet/Tether (HIGHUSDT)

Summary
• Price dropped from $0.434 to $0.315 amid bearish momentum.
• RSI near oversold levels suggests potential reversal.
• Volume declined in the final hours, indicating waning bearish pressure.

Highstreet/Tether (HIGHUSDT) opened at $0.434 at 12:00 ET–1 on 2025-11-08 and closed at $0.315 by 12:00 ET on 2025-11-09. The price ranged between $0.311 and $0.434 during the 24-hour window. Total volume traded was approximately 18.06 million HIGH tokens, while notional turnover stood at $6.53 million.

Structure & Formations

Price formation over the past 24 hours showed a clear bearish bias, with a sharp decline from the early session high of $0.434 to a close near $0.315. A key support level appears to have formed in the $0.311–$0.313 range, as price bounced slightly in the latter half of the day. A bearish engulfing pattern emerged early in the session, which may have contributed to continued selling pressure.

Moving Averages

On the 15-minute chart, price remains below the 20-period and 50-period moving averages, reinforcing the short-term bearish trend. Daily data shows a similar bias, with price trading below the 50-, 100-, and 200-day moving averages, suggesting continued bearish momentum unless a strong reversal occurs.

MACD & RSI

The MACD line has remained below the signal line, with negative divergence suggesting a lack of bullish momentum. The RSI has dipped into oversold territory (near 28) in recent sessions, hinting that further downside may be limited unless bearish forces dominate again.

Bollinger Bands

Volatility expanded during the early morning session as price fell to $0.315, with the bands widening to reflect increased uncertainty. Price currently trades near the lower band, indicating a potential rebound could be near. However, a break below the recent low would suggest further volatility expansion and deeper bearish sentiment.

Volume & Turnover

Volume peaked early in the session, coinciding with the sharp sell-off from $0.434 to $0.368. Since then, volume has gradually declined, with the final hours showing minimal activity and no confirmation of a reversal. Notional turnover mirrored volume trends, with the majority of trading occurring during the initial sell-off.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $0.434 to $0.315, key retracement levels include 61.8% at $0.373 and 38.2% at $0.367. Price appears to have found temporary support at the 61.8% level in the early morning session before continuing its decline. A test of the 38.2% level may offer further insight into near-term sentiment.

Backtest Hypothesis

A recent backtest of a simple bearish strategy based on a daily Bearish Engulfing pattern showed limited profitability, with an overall return of -8.37% and a maximum drawdown of 36.46% over the 2022–2025 period. While the pattern did appear in the recent 15-minute and daily data, the strategy’s lack of filters and risk controls led to frequent small losses and rare large gains. This underscores the need for additional context—such as volume filters, trend alignment, or stop-loss mechanisms—to improve edge and mitigate risk.