Market Overview for Highstreet/Tether USDt (HIGHUSDT)

• Highstreet/Tether USDt (HIGHUSDT) edged higher over 24 hours, closing near the daily high amid rising volume.
• Strong bullish momentum emerged mid-day, with a 1.3% rally from 0.528 to 0.558, supported by surging turnover.
• Key resistance appears at 0.558 and 0.560, with support likely near 0.534 and 0.528.
• Volume spiked over 12:45 ET, confirming a breakout, though divergence in price and volume after 14:30 ET raises caution.
• RSI and MACD showed overbought conditions during the rally, suggesting potential pullback risk.

At 12:00 ET-1, Highstreet/Tether USDt (HIGHUSDT) opened at 0.520 and closed at 0.551 by 12:00 ET, reaching a high of 0.560 and a low of 0.517 over 24 hours. Total volume was 1,406,649.996, with a notional turnover of $731,078.69. The price action reflected a clear bullish bias, with a sharp 15-minute rally following a breakout from a consolidation phase between 0.528 and 0.534.

Structure & Formations

Key resistance levels formed at 0.558 and 0.560, where the price tested and briefly held before retreating. Strong support emerged at 0.534 and 0.528, with bullish engulfing patterns observed during the early morning consolidation. A notable bearish divergence occurred at 14:30 ET, with volume declining despite a continued price rally, suggesting potential exhaustion. A doji formed at 14:45 ET, indicating indecision near 0.550.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart converged around 0.531–0.532, aligning with the mid-day support. Price closed above both indicators, confirming a short-term bullish bias. On the daily chart, the 50-period and 200-period MA crossed near 0.527, suggesting a potential continuation of the upward trend.

MACD & RSI

The MACD line crossed above the signal line near 0.528, signaling a bullish crossover. Positive momentum continued through the early afternoon, with the histogram peaking at 0.560 before rolling over. RSI reached overbought territory at 0.560, hitting 68–70, suggesting potential for a retracement. A bearish divergence appeared around 14:30 ET as RSI failed to make a new high despite rising prices.

Backtest Hypothesis

The backtest strategy involves entering long positions on a bullish crossover of the 20-period and 50-period MA on the 15-minute chart, confirmed by an RSI above 50 and a bullish engulfing pattern. A stop-loss is placed below the previous swing low, and a target is set at the nearest resistance level or 1.5x the initial candle range. Historical data from the last 72 hours suggests this strategy would have captured the 0.534–0.560 move with a 1.5:1 risk-to-reward ratio. The divergence at 14:30 ET offers an opportunity to re-enter on a pullback.

Looking ahead, HIGHUSDT appears poised to test key resistance at 0.560 and potentially extend gains toward 0.570 if buying momentum holds. However, the bearish divergence and overbought RSI suggest caution, with a possible pullback to 0.540–0.534 likely if short-term selling pressure emerges. Investors should monitor volume patterns and avoid overleveraging long positions ahead of uncertain macroeconomic sentiment.