Market Overview for OpenLedger/Tether (OPENUSDT) as of 2025-11-01

OPENUSDT traded between 0.3344 and 0.3663 over the 24-hour window, closing at 0.3552 from an open of 0.3442 at 12:00 ET − 1. Total trading volume was approximately 8,777,579.2, while notional turnover (volume × price) reached ~$3,035,000. The pair exhibited a volatile 15-minute profile with multiple intraday turning points and a late morning breakout above a key resistance level.

1. Structure & Formations

The 24-hour candlestick pattern for OPENUSDT showed a sharp reversal in the morning session, with a bearish candle at 0.3460–0.3430 followed by a strong bullish reversal in the evening session, forming a bullish “rejection” or “engulfing” pattern. Key support levels formed around 0.3344 and 0.3415, while resistance was tested at 0.3470 and 0.3493. A doji formed at 0.3444 during the early morning, signaling indecision before a sharp upward move.

2. Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in close proximity, suggesting a sideways to slightly bullish bias. The 50-period line crossed slightly above the 20-period line in the late morning, indicating a short-term bullish crossover. On the daily chart, the 50-period moving average appears to be catching up with the 100-period line, suggesting the pair may be entering a consolidation phase after a prior downtrend.

3. MACD & RSI

The MACD histogram showed divergence during the early morning session, with bearish momentum followed by a sharp bullish crossover at around 16:00 ET. RSI was in overbought territory for a short period after 22:00 ET, peaking at 61.8 before retreating to neutral levels. While not in a classical overbought/oversold zone, the RSI’s behavior suggested increasing bullish momentum in the latter half of the day.

4. Bollinger Bands

Volatility was notably high during the morning and early afternoon, with price frequently touching and retesting the upper band. A period of contraction was observed between 18:00 and 20:00 ET, followed by a sharp expansion. Price closed near the upper band, indicating strength, but this could signal a potential near-term correction if the upper band is tested again.

5. Volume & Turnover

Volume spiked in the late morning (after 11:00 ET) and again in the early evening (after 17:00 ET), coinciding with key price movements. Turnover aligned with volume spikes, showing strong conviction behind price changes. Divergence between volume and price was not observed, suggesting the move higher was well-supported by market participants.

6. Fibonacci Retracements

Fibonacci levels were relevant in two key areas. The 0.3344–0.3493 swing showed a retest of the 0.3430–0.3450 (38.2–50%) retracement level before the price broke out. The larger 0.3344–0.3663 range saw a retest of the 0.3520 (61.8%) level, which was successfully defended, suggesting a strong near-term bullish bias.

7. Backtest Hypothesis

Given the observed RSI behavior and the strength of bullish candlestick formations, an RSI-14 based backtesting strategy could provide valuable insights into the behavior of OPENUSDT over the past three years. Specifically, a strategy that triggers a buy signal on an RSI-14 reading below 30 and exits at the next day’s open might reveal the viability of this approach in capturing rebounds in a low-liquidity environment. However, due to the symbol-specific data issue, confirmation on a recognized exchange ticker is needed to proceed. For example, using a known liquid pair like BTCUSDT or ETHUSDT could serve as a proxy for validating such a strategy before applying it to less-traded tokens like OPENUSDT.