Market Overview for Terra/Tether (LUNAUSDT)

• Price action shows a morning sell-off with a late-day recovery, closing near the 14.02–14.23 range.
• RSI remains neutral, suggesting no immediate overbought or oversold conditions.
• Volume spiked during the 00:00–02:00 ET rebound, confirming renewed bullish momentum.
• Bollinger Bands expanded during the recovery, indicating heightened volatility and potential continuation.
• 20-period MA is ascending, aligning with the recent bullish push in late hours.

Terra/Tether (LUNAUSDT) opened at 0.1402 on 2025-09-23 at 12:00 ET and closed at 0.1421 on 2025-09-24 at 12:00 ET. The pair reached a high of 0.1453 and a low of 0.1379 over the 24-hour window. Total volume was 50.1 million units, with a notional turnover of approximately $7,140,000. The market displayed a clear morning bearish phase followed by a late-night bullish rebound.

Structure and formations show a key support level at 0.1391–0.1396, tested and bounced off during the early hours of 09-24. A notable bullish engulfing pattern formed between 00:15–00:30 ET, marking a reversal from the morning low. A doji appeared around 01:45 ET, signaling indecision during consolidation. Resistance levels at 0.1420–0.1425 have been tested multiple times, with price finding support at 0.1414–0.1416 during the final hours. The 20-period MA on the 15-minute chart is trending upward, now near 0.1415, indicating a short-term bullish tilt.

The 50-period MA is also rising, aligning with the 20-period line. MACD remains in positive territory, with a bullish crossover on the 15-minute chart during the 01:45–02:00 ET window. RSI oscillates between 50–60, suggesting balanced momentum but no overbought conditions. Bollinger Bands expanded during the recovery phase, with price trading near the upper band at the 00:00–01:45 ET window, indicating strong volatility. Currently, the price sits just below the upper band, signaling potential for a continuation if bullish bias holds.

Volume spiked during the 00:00–02:00 ET rebound, reaching over 1.8 million units and confirming the strength of the bullish move. Turnover surged alongside volume, with no signs of divergence between price and volume. A Fibonacci retracement from the 0.1379 low to the 0.1453 high shows 0.1420 as a key 61.8% level, which has been successfully held. On the daily chart, the 50-period MA is ascending, and the 200-period MA remains as a key long-term support at 0.1405.

Backtest Hypothesis
A potential strategy could involve entering long positions when the 20-period MA crosses above the 50-period MA on the 15-minute chart and price breaks above the 0.1420 Fibonacci level. Stops could be placed below the 0.1405 support, with a target at 0.1435–0.1440. This approach would have captured the 01:45–02:00 ET rebound and held through the consolidation phase. The MACD crossover and RSI neutrality suggest the strategy is well-aligned with the current market structure. However, the doji at 01:45 ET and the late-day volume spike should be monitored to assess strength of the move.