Market Overview for Movement/Tether (MOVEUSDT) – 2025-10-09

• Movement/Tether (MOVEUSDT) broke below a key 15-minute support at 0.1100, with a closing low of 0.1073.
• Momentum weakened as RSI fell below 30, signaling oversold territory after a sharp 5-hour decline.
• Volatility spiked during the 02:00–03:30 ET selloff, with volume surging above 169k.
• Price found temporary support at the 0.1080 level, forming a bullish reversal pattern at 04:30 ET.
• Turnover diverged with price during the 08:30–10:00 ET rally, hinting at weak conviction.

MOVEUSDT opened at 0.1101 on 2025-10-08 12:00 ET and closed at 0.1084 on 2025-10-09 12:00 ET, with a high of 0.1131 and low of 0.1064. Total volume for the 24-hour period was 16,435,229.3, and notional turnover (value) was approximately $1,798,796.60. The price action reflected a sharp intraday bearish reversal, a key support breach, and an initial bullish bounce.

Structure & Formations

The price moved into a bearish phase following the breakdown of the 0.1100 psychological support level during the 02:00–04:00 ET period, with a bearish engulfing pattern forming at 02:45 ET. A 61.8% Fibonacci retracement level from the 0.1064 to 0.1100 swing came into play at 0.1082, coinciding with a bullish candlestick reversal and a volume spike at 04:30 ET. A potential double bottom is forming near 0.1073–0.1076, suggesting a possible near-term rebound.

Moving Averages

On the 15-minute chart, the price closed below the 50-period moving average, indicating bearish momentum. The 20-period MA provided limited resistance before the 0.1080 level was retested. On the daily chart, the 200-period MA remains below the current price, suggesting a short-term rebound is possible but not indicative of a broader trend reversal.

MACD & RSI

The RSI dropped below 30 during the 03:30–05:00 ET period, signaling oversold conditions, though divergence between price and RSI was evident during the 04:30–06:00 ET consolidation. The MACD turned negative with a bearish crossover, remaining in negative territory for most of the 24-hour period. A potential bullish divergence in the RSI could emerge if the 0.1073 level holds.

Bollinger Bands

Volatility expanded sharply during the 02:45–04:15 ET period, with the price swinging from within the lower band to near the upper band of the Bollinger Band structure. Price later retracted into the lower half of the bands, with the 0.1073 low representing a potential contraction point. The 0.1084–0.1089 range appears to be a key volatility pivot.

Volume & Turnover

Volume surged above 700k during the 09:45–11:45 ET bounce and again at 04:30 ET, confirming bullish pressure on these moves. However, turnover failed to confirm the strength of the 09:45 ET rally, indicating weak conviction. A volume divergence at the 0.1080–0.1085 level suggests a potential short-term reversal or consolidation.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at 0.1082 was tested and held, forming a potential pivot point. A retest of the 38.2% retracement level at 0.1094 could confirm a bearish continuation if it fails. On the daily chart, the 61.8% retracement from the 0.1064 to 0.1100 swing sits at 0.1073 and could act as a key support.

Backtest Hypothesis

A backtest strategy involving a long entry on a bullish reversal pattern at the 0.1080 level, confirmed by a close above the 20-period moving average and an RSI above 35, would have yielded a potential short-term rebound trade. A stop loss could be placed below the 0.1073 support level, with a target at the 0.1094–0.1096 resistance zone. This setup could be used to capitalize on potential short-term bounces in a broader bearish context, with a focus on volatility and volume confirmation.