Market Overview for Newton Protocol/Tether (NEWTUSDT): 24-Hour Technical Review

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• Newton Protocol/Tether (NEWTUSDT) drifted lower amid subdued momentum, closing near 0.2049 after hitting 0.2112 earlier.
• RSI and MACD signaled bearish pressure, with RSI dipping into oversold territory and MACD confirming a bearish crossover.
• Volatility expanded during the session, with price oscillations between 0.2036 and 0.2113 over the 24-hour period.
• A notable volume spike occurred around the 0.21 level, hinting at a potential resistance area.
• Downtrend continuation appears probable, with 0.2035–0.2045 forming a likely support cluster.

Newton Protocol/Tether (NEWTUSDT) opened at 0.2046 on 2025-10-02 12:00 ET and closed at 0.2049 as of 2025-10-03 12:00 ET. The pair reached a high of 0.2113 and a low of 0.2036 over the 24-hour period. Total volume was 2.16 million contracts, with a notional turnover of $444,936.

Price action reflected a bearish bias, with the 0.2112 high failing to hold and a subsequent pullback confirming the breakdown. Key candlestick formations, including a hanging man near 0.21 and a bearish engulfing pattern near 0.2086, reinforced the weakening momentum. The price appears to be testing a multi-level support zone between 0.2035 and 0.2045.

MACD confirmed bearish momentum with a negative crossover, while RSI dipped below 30, suggesting oversold conditions. However, the slow divergence in RSI suggests a potential pause or consolidation before a further decline. Bollinger Bands displayed an expanding volatility pattern, with price hovering near the lower band for much of the session, indicating bearish exhaustion or consolidation.

Fibonacci retracement levels highlighted key levels of interest from the recent 0.2036 to 0.2113 swing. The 0.2055 (38.2%) and 0.2041 (61.8%) levels appear to have acted as temporary resistance and support, respectively. Looking ahead, a break below 0.2035 could open the door for a test of 0.2025, while a rejection above 0.2049 may offer a short-term bounce opportunity. Investors should remain cautious as the market may continue to test lower bounds.

The 20-period and 50-period moving averages on the 15-minute chart both pointed downward, reinforcing the bearish trend. The 50-period MA crossed below the 100-period and 200-period daily MA, confirming a bearish crossover in the broader timeframe. Price is currently below both the 20-period and 50-period moving averages, indicating a strong downward bias.

Backtest Hypothesis
The backtesting strategy involves entering short positions when the 50-period moving average crosses below the 100-period moving average (death cross) on the daily chart, with a stop-loss placed above the recent swing high and a target set at the next Fibonacci support level. Exit long positions if the RSI crosses above 50 or the MACD returns to positive territory. Given today’s price action and technical indicators, the strategy appears valid, as the death cross and bearish divergence in MACD and RSI all align with the downtrend. A potential entry point could be triggered if the price breaks below 0.2035, offering a high-probability short setup.