Market Overview: Mubarak/Tether (MUBARAKUSDT)

• Price rose from 0.03443 to 0.04067 before consolidating, showing a sharp 18.7% upward move on key volume spikes.
• A bullish breakout formed above prior resistance at 0.0355–0.036, with high-volume confirmation.
• RSI surged into overbought territory (78), suggesting short-term pullback risk despite strong momentum.
• Volatility expanded with Bollinger Bands widening, highlighting increased market participation.
• A large bullish engulfing pattern emerged at the top of a 0.0336–0.0362 range, signaling potential trend continuation.

Mubarak/Tether (MUBARAKUSDT) opened at 0.03443 on 2025-09-17 at 12:00 ET and closed at 0.03882 on 2025-09-18 at 12:00 ET, reaching a high of 0.04117 and a low of 0.0336. Total traded volume was 214,253,470.5, with a notional turnover of $7,269,408.80 (USD equivalent using average price). The pair exhibited strong bullish momentum and a sharp break above key levels.

Structure & Formations

The price action revealed a multi-wave bullish trend, with the most significant move occurring between 03:15 and 09:45 ET, where MUBARAKUSDT surged from 0.03616 to 0.04067. A large bullish engulfing pattern formed at the top of the 0.0336–0.0362 range, suggesting that the upward trend may continue. The 0.0362–0.0365 zone has emerged as a key support-turned-resistance, and the 0.0395–0.0402 zone appears as the next critical price barrier.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward, with price consistently above both. This confirms the ongoing bullish bias. On the daily chart, the 50-period MA is catching up to the 200-period MA, suggesting a potential golden cross is forming, which could reinforce the upward trajectory if confirmed over the next 24–48 hours.

MACD & RSI

The MACD showed a strong bullish crossover and remains in positive territory, with a growing histogram, indicating expanding momentum. The RSI, however, has surged into overbought territory (78), suggesting that a short-term pullback is probable. While the RSI remains above 60, this overbought condition warns of potential profit-taking or consolidation.

Bollinger Bands

Bollinger Bands have widened significantly during the upward move, reflecting increased volatility. The price is currently trading near the upper band at 0.0396–0.0402, indicating a potential overextension in the near term. A retest of the middle band or the lower band would be critical for assessing the strength of the bullish move.

Volume & Turnover

Volume surged during the key upward breakout between 03:15 and 09:45 ET, with a total volume of 28.6 million coins traded during the peak. This volume confirms the strength of the upward move. Notional turnover also spiked during the same period, reaching over $3 million, reinforcing the validity of the price action. A divergence between price and volume could indicate weakening conviction, but for now, both metrics align with the bullish narrative.

Fibonacci Retracements

Applying Fibonacci to the 0.0336–0.04117 move, the 38.2% retracement level is at 0.03788, and the 61.8% retracement level is at 0.0353. The price is currently above the 50% retracement level, suggesting that the move is still in its early consolidation phase. A breakdown below 0.03788 could trigger a pullback toward the 61.8% level.

Backtest Hypothesis

The described backtesting strategy involves entering a long position when price breaks above the 61.8% Fibonacci retracement level with confirmation from a bullish candlestick pattern (such as a piercing line or bullish engulfing) and a positive MACD crossover. Stops are placed below the 38.2% retracement level, and targets are set at the next Fibonacci level or the upper Bollinger Band. Given today’s action, this strategy would have entered a long position between 03:15 and 04:15 ET, capturing a significant portion of the upward move. The risk-reward setup appears favorable, though the overbought RSI and high volatility suggest tighter stop-loss management may be warranted in the near term.