Market Overview: Spark/Tether (SPKUSDT) – November 12, 2025

• Price declined from $0.0399 to $0.0374 over 24 hours with bearish momentum.
• Volatility expanded after 18:00 ET as price broke below key support.
• Volume increased sharply during the downtrend, confirming bearish bias.
• RSI hit oversold levels, hinting potential near-term bounce.

24-Hour Summary

Spark/Tether (SPKUSDT) opened at $0.0398 on November 11 at 12:00 ET and closed at $0.0374 on November 12 at 12:00 ET, with a 24-hour high of $0.039963 and a low of $0.03723. The pair saw total volume of ~15.3 million tokens and turnover of ~$608.1k, indicating heightened bearish engagement during the decline.

Structure & Formations

Price action showed a strong bearish trend, with a clear breakdown from a key support zone between $0.0385 and $0.0390, followed by a test of $0.0375–$0.0377 as new support. Notable bearish candlestick patterns include a strong bearish engulfing pattern at $0.0395–$0.0393 and a hanging man near $0.0380. A potential consolidation base may form in the $0.0374–$0.0378 range if bullish traders step in.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages are both in steep downward trajectories, confirming the bearish momentum. Daily moving averages (50/100/200) remain above the current price, suggesting a possible retracement to these levels could attract renewed selling pressure or short-term buying interest.

MACD & RSI

The MACD line has turned negative, with the histogram showing a growing bearish divergence. RSI has fallen to 26, signaling an oversold condition and a potential short-term bounce. However, the slow stochastic RSI suggests caution—while a rebound may be imminent, a close above 30 is needed to confirm a reversal.

Bollinger Bands

Volatility expanded dramatically as the pair broke below the lower Bollinger Band during the evening hours, confirming a breakout from a consolidation pattern. Price is now trading at the bottom of the new band, indicating a high-risk environment for further downside with potential for a mean reversion pullback.

Volume & Turnover

Volume spiked during the critical breakdown at $0.0385–$0.0390 and again during the test of the $0.0375 support, confirming key levels. Turnover increased in tandem with price drops, showing strong conviction in the bearish move. However, the lack of buying interest during recent bounces (e.g., $0.0380–$0.0383) suggests a weak bull case unless a large-volume reversal candle appears.

Fibonacci Retracements

Key Fibonacci levels from the recent swing high at $0.0399 to the swing low at $0.0372 are now relevant. The 61.8% retracement level sits at $0.03847, where bulls could face selling pressure. A retest of the 38.2% level at $0.03866 may occur if the market rebounds, but failure to hold above $0.0384 could lead to a test of the $0.03675 61.8% daily retracement level.

Backtest Hypothesis

A backtest strategy based on bearish signals—specifically a bearish-engulfing candle coinciding with a pivot-high resistance—was tested from 2022 to 2025. With an 8% stop-loss and 12% take-profit, this swing-trading approach aligns with recent SPKUSDT price behavior, particularly at the $0.0395 and $0.0382 levels. The strategy’s performance could be enhanced by incorporating volume confirmation and RSI divergence, both of which were evident in this 24-hour period.

Looking ahead, SPKUSDT could see short-term volatility as it tests $0.0375 support and potentially rebounds toward $0.0380–$0.0385. However, a decisive break below $0.0372 would increase the risk of a deeper correction toward $0.0365. Investors should closely monitor volume and RSI divergence for signs of reversal or continuation.