Market Overview for Spark/Tether (SPKUSDT) as of 2025-11-11

Summary
• Price opened at $0.043248 and closed at $0.041151 after a 24-hour swing from $0.0435 high to $0.040817 low.
• Total volume stood at 58.7 million units, with turnover of $2.48 million, showing moderate but uneven buying interest.
• A bearish divergence in price and volume during late hours suggests weakening bullish momentum and potential bearish continuation.

Spark/Tether (SPKUSDT) opened at $0.043248 on 2025-11-10 at 12:00 ET and closed at $0.041151 on 2025-11-11 at 12:00 ET. The pair reached a high of $0.0435 and a low of $0.040817 during the 24-hour period. Total traded volume amounted to 58.7 million units, with a notional turnover of $2.48 million.

Structure & Formations

The daily candlestick chart indicates a strong bearish bias, as the closing price resides near the lower end of the range. A Bearish Engulfing pattern formed early in the session, which may signal a shift in sentiment. The price has tested and failed to break through the 0.0423–0.0426 support zone multiple times, reinforcing it as a key area to watch. Resistance remains in the 0.0432–0.0435 range, where the price stalled and reversed in the early hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both dipped below the price, reinforcing the bearish momentum. The 50-period MA at $0.0427 and the 20-period MA at $0.0425 appear to be acting as dynamic resistance. On a daily timeframe, the 50-period and 200-period MAs are also below the current price, indicating a medium-term downtrend.

MACD & RSI

The MACD has been in negative territory for most of the session, with a bearish crossover occurring during the early hours. RSI currently sits at 34, indicating oversold conditions, but the failure to rebound above 50 suggests that bearish momentum may persist. A break below 30 could trigger further short-term declines, but such a move would likely need to be confirmed by increased volume.

Bollinger Bands

Price action has spent most of the session in the lower third of the Bollinger Band, suggesting a contraction in volatility. The bands have been tightening slightly, which could precede a breakout or breakdown. If SPKUSDT breaks below the lower band, it may indicate a continuation of the bearish trend.

Volume & Turnover

Volume was highest during the midday and early evening hours, with a significant spike at 20:30 ET when the price dropped from $0.0426 to $0.0422. Despite the increased volume, the price failed to close near the lows, hinting at potential buying support. However, the lack of follow-through buying in subsequent periods suggests that sellers remain in control.

Fibonacci Retracements

Fibonacci levels drawn from the recent 0.0435 high to the 0.040817 low show that the current price of $0.041151 aligns closely with the 23.6% retracement level. The 38.2% and 61.8% levels are at $0.0420 and $0.0414, respectively. A retest of the 61.8% level could provide a near-term support test and a potential pivot point.

Backtest Hypothesis

Given the presence of a Bearish Engulfing pattern observed during the session and the confirmed bearish divergence in volume and price, a short-term trading strategy could be constructed. The idea is to go short on SPKUSDT at the close of each day where a Bearish Engulfing pattern is identified and exit the position after exactly one trading day. This avoids the failing pricing node in the event back-test and allows for a clean performance evaluation of the pattern’s predictive power. The next bearish signal would need to be confirmed with a clear rejection at key support levels, such as the 0.0414–0.0420 range.