Market Overview for SafePal/Tether (SFPUSDT)

Summary
• SFPUSDT forms bullish engulfing patterns after breaking 0.3600, suggesting potential for further upside.
• Volume surges during the late morning ET, supporting price strength and confirming directional momentum.
• RSI moves into overbought territory, indicating caution ahead, while Bollinger Bands widen, showing increased volatility.
• 20-period MA crosses above price mid-session, hinting at short-term bearish divergence and a possible retracement.
• Price consolidates near 0.3575 on Fibonacci 61.8% level, suggesting key support to watch for reversal potential.

At 12:00 ET on 2026-01-06, SafePal/Tether (SFPUSDT) opened at 0.3544, reached a high of 0.3680, a low of 0.3551, and closed at 0.3579. Total 24-hour volume was 452,870.0, with a turnover of 164,352.68 USDT.

Structure & Formations

The 5-minute chart showed a bullish engulfing pattern around 0.3600 in early morning ET, followed by a bearish divergence near 0.3680 during the afternoon. Key support levels were identified around 0.3575–0.3580, aligning with the 61.8% Fibonacci retracement of the prior upward swing.

Moving Averages and Momentum

The 20-period MA crossed above the price mid-session, signaling short-term bearish pressure. The 50-period MA remains below price, showing a mixed signal. RSI hit overbought levels above 70 in the morning, suggesting a possible pullback.

Volatility and Volume

Bollinger Bands widened in the morning and narrowed in the afternoon, reflecting fluctuating volatility. Volume spiked during the 07:00–09:00 ET period, confirming the price move above 0.3600. A divergence between volume and price was observed in the late afternoon, suggesting caution ahead.

Implications and Outlook

With support at 0.3575 appearing solid and resistance forming around 0.3615–0.3620, traders may look for a test of these levels. Price could consolidate or test the upper band if buyers remain aggressive. Investors should monitor the RSI and MACD for signs of weakening momentum.

In the next 24 hours, a move below 0.3565 could challenge near-term bullish assumptions, while a close above 0.3620 may signal a continuation of the upward trend.