Market Overview for OpenLedger/Tether (OPENUSDT) – 24-Hour Analysis (10/18/2025)

• OpenLedger/Tether traded in a narrow range but saw a late rally from 0.3385 to 0.3547, with a closing recovery near 0.3423.
• Momentum turned positive after 18:30 ET, as RSI crossed above 50 and MACD turned bullish.
• Volume surged during the 01:30–02:30 ET session, confirming a strong reversal in price action.
• Bollinger Bands showed a recent volatility expansion, suggesting increased market interest.
• Notable bearish rejection occurred at 0.3547, which may now serve as a key resistance level.

OpenLedger/Tether (OPENUSDT) opened at 0.3412 on 10/17/2025 at 12:00 ET and reached a high of 0.3547 by 01:30 ET. The pair closed at 0.3423 on 10/18/2025 at 12:00 ET, showing a modest net gain. Total 24-hour volume was 4.13 million, and turnover amounted to approximately $1.44 million, indicating active but mixed participation.

The structure of the 24-hour chart reveals a key support zone forming around 0.3405–0.3415, where multiple candles showed bullish reversals and consolidation. Resistance appears strong at 0.3547, marked by a bearish rejection and a large candle body. Notably, several bullish engulfing patterns emerged after 18:30 ET, suggesting a short-term shift in sentiment. A long lower wick near 0.3385 and 0.3395 also indicates key psychological levels where buyers may return to defend.

On the 15-minute chart, the 20- and 50-period moving averages crossed above the price between 00:00 and 02:00 ET, signaling a short-term bullish bias. The 50-period MA remained above the 100- and 200-period lines for the daily view, suggesting that the longer-term trend remains sideways to mildly bearish. RSI crossed above 50 during the overnight session, indicating a shift in momentum, and briefly entered overbought territory (75–80) during the 02:00–03:00 ET window, suggesting short-lived enthusiasm.

Bollinger Bands widened significantly during the 01:30–02:30 ET window, aligning with the volume spike and the sharp rally toward 0.3547. This expansion in volatility suggests increased market participation and possibly a turning point in the short-term trend. Price then settled within the mid-band range by morning, pointing to a potential consolidation phase ahead. A 61.8% Fibonacci retracement level of the 0.3385–0.3547 swing is at 0.3478, which may serve as a resistance or retest zone in the next 24 hours.

Volume and turnover spiked during the 01:30–02:30 ET session with a 296,110.6-volume candle and $1.02 million turnover, confirming the rally toward 0.3547. However, price failed to sustain that level, closing nearly 0.8% below the high, indicating potential resistance. Divergence appears in the 05:30–07:00 ET session, where price rose but volume declined, suggesting waning bullish momentum. A key confirmation of a trend reversal could occur if volume surges again near 0.3478 with a close above that level.

Backtest Hypothesis

To build on the recent bullish signals and potential retests near 0.3478, a backtest using Bullish Engulfing patterns can be implemented. However, the current request to detect these patterns encountered a symbol recognition error due to the ticker "OPENUSDT" not being properly formatted for the data provider. To proceed, the exact exchange-qualified symbol (e.g., "OPENUSDT.BINANCE" or similar) is required. Once the correct symbol is provided, a 3-day-holding strategy backtest can be run from 2022-01-01 to today, with performance metrics such as cumulative return, drawdown, and trade statistics reported alongside an interactive chart. This will help validate the pattern’s effectiveness in the pair's historical context.