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

Summary
• Price opened at $0.4289, peaked at $0.4539, and closed at $0.4254 after a volatile 24-hour session.
• Strong volume of 19,905,293.38 USDT, with notable surges post 23:00 ET and early morning reversal.
• RSI and MACD signaled overbought conditions during the rally but later showed bearish divergence.

Market Overview

Optimism/Tether (OPUSDT) opened at $0.4289 on 2025-11-10 at 12:00 ET and closed at $0.4254 on 2025-11-11 at 12:00 ET, hitting a high of $0.4539 and a low of $0.4229. The 24-hour total volume was 19,905,293.38 USDT, with a notional turnover of $8,921,195.33.

Structure & Formations

Price formed a bullish impulse wave from $0.4300 to $0.4539, followed by a bearish exhaustion pattern as it fell back toward $0.4254. Key support levels are identified at $0.4250 and $0.4220, with a potential resistance zone forming between $0.4330 and $0.4350. A long lower shadow at $0.4268–$0.4310 on the 15-minute chart suggests buyers re-entered after early losses.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into bearish alignment during the late-night decline. On the daily chart, the 50-period MA appears to be crossing below the 200-period MA, hinting at a broader bearish bias in the medium-term structure.

MACD & RSI

The MACD moved into positive territory during the late-night rally but failed to sustain above the signal line, forming a potential bearish divergence. RSI peaked above 70 before the price reversal, indicating overbought conditions. Currently, RSI stands at ~50–55, signaling neutral to slightly bearish momentum.

Bollinger Bands

Volatility expanded during the afternoon and evening hours, with prices breaching the upper band on the way up and the lower band on the way down. The latest 15-minute candles show price consolidating near the mid-band, suggesting a potential resumption of directional movement.

Volume & Turnover

Volume surged above 1.9 million USDT during the 23:00–01:00 ET window, confirming the price rally. Turnover spiked to over $1.3 million during the peak. However, volume has since contracted, and there is a growing divergence between volume and price action, suggesting a potential exhaustion in the current bearish move.

Fibonacci Retracements

The $0.4390 level corresponds to the 38.2% Fibonacci retracement of the late-night rally, acting as initial support. A break below $0.4254 would align with the 61.8% retracement level, potentially setting up a test of the $0.4220 psychological level.

Backtest Hypothesis

To run the event-driven backtest effectively, it is critical to ensure the correct ticker symbol is used. The system currently cannot locate a valid price series for "OPUSDT." Could you confirm the exact ticker symbol or exchange format (e.g., "OP-USDT" on Binance, "OPUSDT.BINANCE") that maps to a recognized price feed? This will allow the backtest to proceed with accurate historical pricing data for Optimism/Tether.