Market Overview for Newton Protocol/Tether (NEWTUSDT)

• Newton Protocol/Tether (NEWTUSDT) posted a bullish close from 0.1465 to 0.1576 on elevated volume.
• Price formed a bullish ascending triangle and surged past key resistance at 0.154.
• Momentum remains strong with RSI near overbought levels and MACD in bullish crossover.
• Volatility expanded as Bollinger Bands widened, suggesting continuation of the trend.
• Turnover and volume aligned on the upside, confirming the strength of the rally.

Newton Protocol/Tether (NEWTUSDT) opened at 0.1465 on October 12 at 12:00 ET, surged to a high of 0.1591, and settled at 0.1576 by 12:00 ET on October 13. Total volume for the 24-hour period reached 3,965,000, with a notional turnover of approximately 593,000 USDT. The price action formed a clear ascending triangle, breaking above resistance at 0.154 and establishing a strong bullish bias.

The candlestick structure shows a series of higher lows and higher highs, with confirmation of the breakout through a bullish engulfing pattern near the key 0.152 level. A Doji near 0.1513 and 0.1515 indicates temporary indecision, but the price quickly resumed its upward trajectory. Notable resistance levels include 0.154, 0.157, and 0.1591, while immediate support sits at 0.1537, with a broader floor likely at 0.1502.

On the 15-minute chart, the 20 and 50-period moving averages are in a bullish alignment, supporting the upward move. On the daily chart, the 50-period MA appears to be catching up to the 100 and 200-period lines, suggesting a potential convergence of trend indicators that may solidify the bullish setup. The MACD is in positive territory, with a strong signal line crossover, while the RSI is approaching overbought territory, near 70, signaling strong momentum.

Bollinger Bands expanded as the rally unfolded, indicating rising volatility. The price closed near the upper band, suggesting continuation of the current trend. On the volume side, the largest spikes occurred during the 09:00–10:45 ET window and the final 3–4 hours of the session, coinciding with the final wave of the rally. No significant divergences were noted, with volume and price action aligning well.

Fibonacci retracements applied to the last major swing from 0.1463 to 0.1591 indicate key levels at 0.1532 (38.2%), 0.1557 (61.8%), and 0.1574 (78.6%). The 0.1576 close sits just above 78.6%, reinforcing the likelihood of continued bullish momentum if 0.1591 is tested again.

The backtest hypothesis under consideration involves a classic RSI strategy: entering long positions when RSI crosses above 70 and exiting when it falls back below 70. This strategy relies on RSI data for NEWTUSDT, which is currently unavailable due to a ticker issue. As noted, the data source does not recognize the symbol “NEWTUSDT,” so confirmation or an alternative ticker is needed to proceed with the backtest. Once a valid ticker is provided, the RSI series can be extracted, and the buy/sell signals generated accordingly. The full backtest would span from January 1, 2022, to the present, assessing both performance and risk-adjusted returns.