Market Overview for MovieBloc/Tether (MBLUSDT) on 2025-10-08

• MBLUSDT opened at $0.001915 and closed at $0.001914, with a high of $0.001929 and a low of $0.001878.
• Price retreated from a 24-hour peak due to bearish pressure in the late New York and early London sessions.
• RSI near 50 suggests neutral momentum, with no clear overbought or oversold signals.
• Volume spiked during the sharp correction, but turnover failed to confirm a strong reversal.
• Bollinger Bands showed a period of volatility expansion, followed by consolidation near the lower band.

MovieBloc/Tether (MBLUSDT) opened at $0.001915 at 12:00 ET − 1 and closed at $0.001914 by 12:00 ET on 2025-10-08. The price hit a high of $0.001929 and fell to a 24-hour low of $0.001878. Total volume was 594,927,050, with a notional turnover of approximately $1,135,500. The session featured multiple bearish reversals, especially in the late New York and early London sessions, indicating mixed sentiment.

Structurally, the pair encountered key support at $0.001902–0.001905 and resistance at $0.001915–0.001920. A bearish engulfing pattern emerged during the 3:45–4:00 AM ET window, signaling a potential short-term top. A hanging man pattern followed at 11:45–12:00 AM ET, further confirming a potential pullback. These patterns, while not conclusive, reinforce the idea of a consolidating range.

Moving averages on the 15-minute chart saw price dipping below the 20-period SMA after the bearish breakout. The 50-period line held slightly above at $0.001916, suggesting short-term bearish bias. On the daily chart, the 50-period MA crossed above the 200-period line, hinting at a possible longer-term bullish trend, though this remains unconfirmed for the next 24 hours.

The MACD histogram showed a shift to negative territory after 2:00 AM ET, with bearish divergence. RSI remained in the neutral zone around 50, with no definitive overbought or oversold signals. Bollinger Bands displayed a period of volatility expansion during the sharp drop to $0.001878, followed by a contraction as price consolidated near the lower band. This suggests a potential setup for a rebound or continuation depending on volume behavior.

Volume and turnover showed notable divergence during the late-night and early-morning sessions. While volume surged during the sharp correction, turnover did not confirm a strong bearish conviction, suggesting some traders may have been hedging or unwinding short-term positions. A bearish divergence in the 4:00–5:00 AM ET window is worth monitoring for further confirmation of a potential trend shift.

Fibonacci retracement levels applied to the key 15-minute swing from $0.001929 to $0.001878 showed price finding a temporary floor near the 61.8% level ($0.001902). The 38.2% level at $0.001916 acted as a minor resistance in the early afternoon, indicating short-term pressure. On the daily chart, the 50% retracement level around $0.001910 may be a key area to watch for support/resistance confluence.

Backtest Hypothesis
The backtesting strategy described focuses on using a combination of bearish candlestick patterns (engulfing, hanging man) and divergences in MACD and RSI to trigger short positions. A long entry is suggested when price consolidates near key Fibonacci levels and shows bullish engulfing or hammer patterns. The strategy would aim to capture momentum shifts on the 15-minute time frame while using daily moving averages to filter out false signals. Given the recent divergence and bearish candlestick formations observed, this strategy may perform well in a volatile, ranging market with clear trend-line breaks. The next 24 hours could offer a test as price approaches key support at $0.001902 and resistance at $0.001915–0.001920.