Market Overview for Jupiter/Tether (JUPUSDT) on 2025-11-04

Summary
• JUPUSDT drifted lower after a brief rebound, closing at 0.3452 from 0.3653.
• Volatility spiked overnight with a 7.7% drop, indicating bearish pressure.
• RSI and MACD suggest potential oversold conditions toward the end of the period.
• Bollinger Bands showed a moderate expansion, reflecting increasing uncertainty.
• High-volume pullback seen during the 07:30–09:45 ET window.

Market Overview

Jupiter/Tether (JUPUSDT) opened at 0.3653 on 2025-11-04 and drifted lower to close at 0.3452, with a high of 0.3748 and a low of 0.3434. Total volume reached 23,584,968.8 and total turnover was $8,344,697.80. The price trended sideways in the early morning before experiencing a sharp bearish move, driven by high-volume selling pressure and declining momentum.

Structure & Formations

Over the 24-hour period, JUPUSDT saw bearish dominance from 05:30–09:45 ET, with a clear breakdown from key intraday resistance levels at ~0.357–0.359. A bearish flag pattern formed during the 07:30–09:00 ET window, with a tight consolidation before a sharp decline. No strong bullish reversal patterns were formed, although a potential short-covering rally may occur as price approaches 0.343–0.345.

Moving Averages

On the 15-minute chart, the 20SMA crossed below the 50SMA early in the morning, signaling bearish momentum. By midday, the 50SMA sat at ~0.3505, while the 20SMA fell to ~0.3470. For daily chart context, the 50DMA (not computed here for brevity) would need to be below the 200DMA for confirmation of a bearish bias.

MACD & RSI

The MACD turned bearish after 05:30 ET, with a negative crossover and declining histogram. RSI dipped below 30 by 09:45 ET, suggesting oversold conditions, though this could be a continuation of a bearish trend. Negative divergence was observed between the price and RSI from 06:00–09:00 ET, indicating potential for a short-covering rally or a continuation of the downtrend.

Backtest Hypothesis

To assess the predictive power of a Bullish Engulfing pattern for JUPUSDT, a backtesting strategy could be implemented. This candlestick reversal pattern is considered strong when it forms at or near key support levels. For this pair, the next step would be to isolate confirmed Bullish Engulfing patterns using precise OHLC data for JUPUSDT. If such occurrences are identified, a 5-day holding period backtest could evaluate the strategy's profitability. For this to work, we need to either confirm the correct ticker symbol (e.g., Binance: JUPUSDT) or provide a verified OHLCV dataset for the intended period. Please specify your preferred approach for proceeding.