Market Overview: Measurable Data Token/Tether (MDTUSDT) – 24-Hour Analysis

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• Price dropped sharply from $0.02504 to $0.02253 over 24 hours, with a bearish continuation bias evident in late-night consolidation.
• Volume surged during the 6:15–7:30 AM ET window, coinciding with a sharp selloff and confirming bearish momentum.
• RSI remains in oversold territory, suggesting potential for a short-term bounce but limited upside in the near term.
• Key support at $0.02250–$0.02260 is being tested, with a breach likely to trigger further downside toward $0.02220.
• Candlestick formations, including long lower shadows and bearish engulfing patterns, reinforce downward pressure.

Opening and 24-Hour Summary

Measurable Data Token/Tether (MDTUSDT) opened at $0.02498 on 2025-09-21 12:00 ET and traded as high as $0.02504 before closing at $0.02275 on 2025-09-22 12:00 ET. The pair reached a 24-hour low of $0.02197, indicating strong bearish sentiment. The total volume over the period was 11,722,707.2, with a notional turnover of $264,496.29.

Structure & Formations

The chart exhibits a prolonged bearish trend, with price forming a series of bearish engulfing patterns and long lower shadows in the early hours of September 22. A key support level at $0.02250–$0.02260 has shown resilience, but a breakdown could expose further support at $0.02220. A doji formed around $0.02270 at 10:30 AM ET, suggesting a temporary equilibrium before the price resumed its downward bias.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remain above the current price, confirming bearish momentum. The 200-period MA on the daily chart also lies above the price, reinforcing the long-term bearish bias. The 50-period MA is approaching key support at $0.02250, which may act as a potential pivot zone.

MACD & RSI

The MACD line crossed below the signal line with negative divergence, confirming the bearish move. The RSI has remained in oversold territory (~20–25), suggesting short-term exhaustion but not necessarily a reversal. A rebound above $0.02280 would need a corresponding RSI bounce to $40 for bullish confirmation, which has yet to materialize.

Bollinger Bands

Volatility expanded significantly during the overnight selloff, with price breaking below the lower band on multiple occasions. This expansion suggests heightened fear or profit-taking in the short term. Price is currently hovering just above the lower band at $0.02250, indicating that further consolidation may be required before a directional move.

Volume & Turnover

Volume spiked sharply during the 6:15–7:30 AM ET window, coinciding with a $0.00029 drop from $0.02261 to $0.02232. Notional turnover mirrored the volume surge, confirming the strength of the move. However, volume has declined after 10:00 AM ET, suggesting that momentum is waning and traders may be awaiting new catalysts or clearer price direction.

Fibonacci Retracements

A key 50% retracement level is located at $0.02390, which remains well above current levels. The 61.8% retracement at $0.02295 has been tested and failed as resistance, now acting as a potential support. A breakdown below the 38.2% level at $0.02259 would increase bearish conviction toward $0.02220.

Backtest Hypothesis

The backtest strategy involves entering a short position when the price closes below the 50-period moving average on the 15-minute chart and the RSI drops below 30, with a stop-loss placed just above the most recent swing high. The target is a 3.5% move in the direction of the trend, as defined by the 61.8% Fibonacci level. This strategy aligns with recent price behavior, as the RSI has repeatedly confirmed bearish momentum while the MA system has remained bearish. However, the current low volume suggests caution in aggressive shorting without further confirmation.