Market Overview for Optimism/Tether (OPUSDT) – 24-Hour Summary

• OPUSDT opened at $0.7636 and traded between $0.7566 and $0.8272, closing at $0.8149.
• Momentum shows a bullish divergence with RSI and volume surging on higher highs.
• Volatility expanded sharply after 18:00 ET, pushing price above key Bollinger Band resistance.
• A potential bullish engulfing pattern formed near $0.7636 to $0.7683 during the overnight session.
• High turnover of $6.3M at $0.8151 suggests strong institutional or large-cap participation.

Optimism/Tether (OPUSDT) opened at $0.7636 on 2025-09-17 at 12:00 ET and closed at $0.8149 by 12:00 ET on 2025-09-18. The pair reached a high of $0.8272 and a low of $0.7566 during the 24-hour period. Total volume amounted to 22,425,247.34, while total notional turnover was $17,881,533.65, reflecting strong price action and increased market activity.

Structure & Formations

The 15-minute chart displayed a clear bullish trend over the 24-hour period, with a strong breakout above prior resistance at $0.81. A significant bullish engulfing pattern was observed between $0.7636 and $0.7683, which marked the start of a sustained rally. Key support levels were identified at $0.762 and $0.7592, both of which held firm during the initial pullbacks. A notable doji candle formed at $0.7727, signaling potential indecision before a sharp recovery. A critical resistance level appears to have been established at $0.815–$0.825, where volume surged and price consolidated multiple times.

Moving Averages

Short-term moving averages such as the 20-period and 50-period SMAs on the 15-minute chart showed a clear upward bias, reinforcing the bullish trend. The 20-period line was above the 50-period line, indicating positive momentum. On a longer time frame, the 50-period and 200-period SMAs on the daily chart crossed above the 100-period line, suggesting a strengthening bullish bias for the broader trend.

MACD & RSI

The MACD showed a strong positive divergence from 18:00 ET onward, aligning with the price rally. RSI climbed to overbought territory above 70, indicating potential for a pullback, though the bullish divergence in both MACD and RSI suggests further upside may be ahead. RSI also displayed a bullish crossover, reinforcing the likelihood of continued upward momentum in the near term.

Bollinger Bands

Volatility expanded significantly after 18:00 ET, with price breaking above the upper Bollinger Band at $0.815. The upper band acted as a dynamic resistance before price consolidated within the band again. The width of the bands suggests a phase of increased volatility, which is often associated with continuation patterns in trending markets. Price remained above the 20-period SMA within the bands for most of the session, indicating strong directional bias.

Volume & Turnover

Volume spiked dramatically during the breakout above $0.815, with a notable 15-minute candle at 18:45 ET registering over 1.7 million volume and $1.3 million in turnover. Notional turnover confirmed the strength of the rally, with no significant divergence between price and volume. The most liquid candle recorded a turnover of $6.3 million at $0.8151, suggesting heavy participation from institutional or high-net-worth traders.

Fibonacci Retracements

Fibonacci retracement levels drawn from the key swing high at $0.8272 and low at $0.7566 show that price is currently consolidating near the 61.8% level at $0.8055, suggesting potential for a further test of the 78.6% retracement at $0.8185. On a shorter time frame, the 38.2% and 50% levels at $0.771 and $0.768 were key support areas during the initial rally, with price rebounding cleanly from these levels.

Backtest Hypothesis

Given the recent bullish pattern and strong volume confirmation on the 15-minute chart, a potential backtest strategy could involve entering long at the close of a bullish engulfing pattern, confirmed by a 1.5% volume surge and a MACD crossover. A stop-loss could be placed just below the nearest support level, while a profit target might be set at the 61.8% Fibonacci level. This strategy would aim to capture a continuation of the bullish trend while managing risk through disciplined stop-loss placement.