Market Overview for TerraClassicUSD/Tether (USTCUSDT)

• Price action showed a bearish drift followed by a modest rebound over 24 hours.
• Key support levels at 0.00776–0.00778 held multiple times, with minor resistance at 0.00785–0.00787.
• Volume surged during the morning rebound, but turnover showed signs of waning momentum.
• A bullish divergence formed at the end of the 24-hour period, hinting at potential short-term reversal.
• Volatility expanded during early morning hours, followed by a contraction as the price stabilized near 0.00784.

TerraClassicUSD/Tether (USTCUSDT) opened at 0.00783 on 2025-10-31 at 12:00 ET, reached a high of 0.00809 and a low of 0.00765 over the next 24 hours, and closed at 0.00784 on 2025-11-01 at 12:00 ET. The 24-hour volume totaled approximately 62,528,944.0 units, with a notional turnover of ~$493,643. The price displayed a volatile bearish trend early on, followed by a consolidation and a late-day attempt at a bullish reversal.

Structure & Formations

The price action on USTCUSDT over the past 24 hours displayed multiple key support and resistance zones. The area between 0.00776 and 0.00778 acted as a strong support, being tested and held on multiple occasions. Resistance was observed at 0.00785 and 0.00787, especially during the morning rebound phase. A notable bullish engulfing pattern formed around the 24-hour mark, indicating a potential shift in sentiment. A few doji and indecision candles also appeared during the consolidation phase, signaling a tug-of-war between buyers and sellers.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned, reflecting a sideways bias for most of the period. By the late morning and afternoon hours, the price briefly crossed above the 50-period SMA, suggesting a potential short-term bullish bias. On the daily chart, the 50-period moving average sits slightly above the 100 and 200-period lines, but the price remains below all three, indicating a bearish bias in the longer term.

MACD & RSI

The MACD histogram showed a bullish divergence in the final hours, with a narrowing of bearish momentum and a tentative crossover to the positive side. The RSI, while not overly overbought or oversold, hovered between 40 and 50 for most of the session, signaling a sideways and neutral market. Late in the 24-hour period, RSI crossed above 50, suggesting a potential reversal to the upside.

Bollinger Bands

Bollinger Bands showed a significant expansion early in the 24-hour period, as the price dropped sharply and then rebounded. The width of the bands narrowed toward the end of the period as the price stabilized, indicating a potential end to the volatile phase. The closing price of 0.00784 lies near the middle band, suggesting the price is returning to a more neutral zone after a period of heightened volatility.

Volume & Turnover

Volume was particularly high during the early morning rebound, with two 15-minute candles showing above 5 million traded units. This suggested strong buying interest during the consolidation phase. However, turnover failed to confirm the bullish momentum, with notional turnover declining as the price moved higher. A divergence between price and turnover may indicate weakening conviction in the bullish move.

Fibonacci Retracements

On the 15-minute chart, the price retraced to the 50% Fibonacci level at 0.00780 before rebounding, confirming it as a key area of interest. On the daily chart, the 61.8% retracement level at 0.00792 has acted as a resistance, with the price failing to hold above it. The 38.2% level at 0.00777 has served as a support, and the price appears to be consolidating near this area.

Backtest Hypothesis

The backtesting strategy outlined hinges on the availability of MACD data for USTCUSDT, which is currently unavailable. A viable alternative would be to use a symbol variation—such as “USTC-USDT” or “USTC/USDT”—to locate the pair in the data provider’s universe. Alternatively, with access to daily price data, the MACD values and their crossover signals can be calculated manually for a 24-hour backtest. If neither option is feasible, shifting the backtest to a more readily accessible pair like BTCUSDT or ETHUSDT could serve as a workaround. A successful backtest would confirm the validity of the bullish divergence and potential reversal signal observed near the 24-hour close.