Market Overview for Hyperlane/Tether (HYPERUSDT) – 2025-10-23

• Price action showed a sharp decline from 0.1919 to 0.1832 before consolidating near 0.1850.
• Momentum indicators suggest bearish bias, with RSI and MACD reflecting fading upward pressure.
• A key support level emerged at 0.18, with volume increasing significantly on test attempts.
• Volatility expanded early in the session but has since stabilized, with price hovering within Bollinger Bands.
• Turnover and volume remained elevated during bearish moves, signaling strong conviction in downside pressure.

Hyperlane/Tether (HYPERUSDT) opened at 0.1909 on 2025-10-22 at 12:00 ET, reached a high of 0.1925, a low of 0.1785, and closed at 0.1919 on 2025-10-23 at 12:00 ET. The 24-hour volume totaled 29.86 million, with a notional turnover of $5.74 million.

The price action for HYPERUSDT was marked by a strong bearish breakdown during the early hours of the session, with price dropping below 0.1900 and testing key support at 0.18. A strong bounce off 0.18, especially in the overnight hours, indicates short-term buyers stepping in to defend this level. Notable candlestick patterns include a bullish engulfing formation at 0.1828 and a bearish harami at 0.1856, suggesting indecision between bulls and bears.

The 20-period and 50-period moving averages on the 15-minute chart crossed below the price line early in the session, signaling bearish momentum. On the daily chart, the 50-period MA has crossed below the 100-period MA, reinforcing the downward trend. However, the recent upward pull from 0.18 to 0.1919 has brought the price closer to the 20-period MA, indicating potential for a retracement or consolidation.

MACD turned negative during the bearish phase, with the histogram reflecting fading momentum. The RSI crossed below 30 during the low at 0.1785, indicating oversold conditions, but failed to generate a strong reversal signal. Bollinger Bands expanded during the bearish leg, with price hitting the lower band at 0.18, suggesting heightened volatility and potential for a bounce.

Volume and turnover spiked during the bearish breakdown below 0.1850, confirming the move. However, the upward bounce lacked a proportional surge in volume, indicating mixed conviction. Price and volume appear to be diverging slightly during the recovery phase, which may suggest a potential false recovery or a test of bearish control.

Fibonacci retracements from the recent bearish swing (0.1925 to 0.1785) show 0.1845 at the 38.2% level and 0.1881 at the 61.8% level. Price tested both levels during the recovery phase, with 0.1881 acting as a temporary resistance. The consolidation near 0.19 suggests that 0.1925 could serve as the next key resistance.

The backtest hypothesis involves identifying key support and resistance levels and using price patterns such as engulfing and harami to generate trade signals. Given the backtest engine's limitation to stop-losses as a percentage of the entry price, a fixed percentage approach (e.g., -10%) relative to each entry would better align with the engine’s capabilities and adapt to varying price levels. This method would allow for consistent risk management across multiple trade setups without distorting the intended risk-reward profile.