Market Overview for OFFICIAL TRUMP/Tether (TRUMPUSDT): Volatile 24-Hour Rebound

• Price opened at $7.484 and fell to $7.01 before rebounding to $7.534.
• 24-hour RSI hit oversold before recovering, indicating volatile reversal potential.
• Volume surged to $1.47M during the sharp dip and again with the rebound.

The OFFICIAL TRUMP/Tether (TRUMPUSDT) pair opened at $7.484 on 2025-11-03 12:00 ET and closed at $7.28 at 12:00 ET on 2025-11-04, having traded as low as $7.01 and as high as $7.534. Total 24-hour volume amounted to 17,493,730.54, with a notional turnover of $124,202,343.77, reflecting heightened activity during sharp price swings.

Over the last 24 hours, the price displayed a pronounced bearish breakdown early in the session, with a 9.3% drop from $7.484 to $7.01 between 17:00 ET and 05:45 ET. This was followed by a strong rebound from the low, forming a double bottom and a bullish reversal pattern near the $7.10–$7.15 level. Key support levels appear to include $7.10, $7.16, and $7.21, while resistance emerged at $7.35 and $7.40. A doji formed at the $7.35 level, hinting at indecision and potential reversal.

The 15-minute RSI (14) dipped into oversold territory below 30 during the early decline, then surged back toward the 50–60 range during the rebound, indicating momentum is building in the bullish direction. The MACD crossed into positive territory after 06:00 ET, reinforcing the uptrend signal. Meanwhile, Bollinger Bands widened significantly during the sharp move down and showed contraction as the price stabilized, pointing to increased volatility followed by consolidation.

Volume spiked to $1.47M at the 05:45 ET trough and again during the rebound, confirming the move. However, the price remains within the 20-period moving average, suggesting short-term bullishness but no clear breakout. The 50-period MA at $7.31 supports the idea that the price is still testing the mid-range. A further push above $7.35 could test the 61.8% Fibonacci retracement at $7.42, while a breakdown below $7.10 would signal renewed bearish pressure.

The backtesting strategy employed standard technical indicators including RSI, MACD, and moving averages, with a strict 3-day holding rule. The price series used was the 15-minute close, and RSI was set at the standard 30 threshold for oversold conditions. While the strategy shows promise during sharp price corrections, it may struggle in range-bound conditions where the price lacks directional clarity.

Looking ahead, the next 24 hours may see continued consolidation between $7.20 and $7.35 as traders assess the strength of the rebound. A breakout above the 20-period MA would signal higher conviction in the bullish trend, while a retest of the $7.10 level could expose further support. Investors should remain cautious given the recent volatility and monitor volume for confirmation of any directional moves.