Market Overview: Highstreet/Tether (HIGHUSDT) Daily Price Action & Volatility Surge

• HIGHUSDT opened at $0.444 and closed at $0.322, registering a 27.4% decline over 24 hours.
• A sharp sell-off began around 19:30 ET, pushing the price to a 24-hour low of $0.155, marking a significant bearish reversal.
• Volatility spiked as the pair dropped below $0.200 with heavy volume, suggesting strong bearish sentiment.
• Bollinger Bands expanded dramatically during the selloff, reflecting a high-risk environment.
• RSI hit oversold territory below 30 in the last 4–6 hours, potentially signaling short-term buying interest.

The Highstreet/Tether (HIGHUSDT) pair opened at $0.444 on October 10, 2025, at 12:00 ET and closed at $0.322 the following day at the same time, marking a 27.4% drop. The 24-hour high was $0.447, and the low touched $0.155, indicating a wide trading range and heightened volatility. Total volume for the period was approximately 10.5 million HIGH, while notional turnover amounted to around $2.7 million, with most of the selling pressure concentrated in the late evening and early morning hours.

The structure of the price action reveals a clear bearish breakdown from key resistance levels. A large bearish engulfing pattern formed around 19:30 ET as price fell sharply below $0.300, signaling a possible continuation of the downward trend. A doji appeared in the early morning hours at $0.302, hinting at potential short-term indecision. The 15-minute 20-period and 50-period moving averages both turned downward as the price plunged below them, confirming the bearish momentum.

The MACD line crossed below the signal line late in the day, forming a bearish crossover, while the histogram showed a significant expansion of negative momentum. RSI, which remained above 30 for most of the session, finally dropped below that level in the last 4–6 hours and currently sits in oversold territory, potentially indicating a short-term bounce could be on the cards. Bollinger Bands, however, are significantly expanded, reflecting the increased volatility and uncertainty in the market.

Volume spiked during the selloff, particularly between 19:30 ET and 21:45 ET, where price dropped from $0.436 to $0.213. This heavy volume suggests a liquidation event rather than a gradual distribution. However, notional turnover did not follow the same trajectory, showing a divergence that could signal the selloff might be overextended. Fibonacci retracement levels from the prior swing high ($0.447) to the swing low ($0.155) suggest 61.8% and 78.6% levels as potential near-term support, currently around $0.290 and $0.243 respectively.

Looking ahead, the pair may remain under pressure unless a strong reversal emerges from $0.300–$0.310. A break below $0.243 could extend the move lower, but an RSI rebound suggests traders may look for short-term buying opportunities. Investors should remain cautious as volatility remains high, and divergence between volume and price action could indicate a continuation of the downtrend or a sharp reversal.

Backtest Hypothesis

A potential backtest strategy involves entering a short position at the open of a 15-minute candle when both the 20 and 50-period moving averages cross below a critical resistance level, confirmed by a bearish engulfing candlestick pattern and a MACD bearish crossover. A stop-loss is placed above the recent swing high, with a target at the nearest Fibonacci 61.8% retracement level. This approach would have captured the early part of the selloff on October 10, with the MACD confirmation and volume surge reinforcing the trade signal. A trailing stop could be added as price moves in the expected direction, aiming to maximize returns while mitigating risk.